GFR vs QQQ: Correlation
How closely do Greenfire Resources Ltd. (GFR) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.10, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GFR and QQQ?
On 3 years of weekly data the GFR/QQQ correlation comes out at 0.10, weak. The past 12 months show a weaker link (-0.24) than the 3-year average (0.10). The 5-year figure is 0.08, and annualized covariance runs at 109.8 %².
QQQ is close to the least connected end of GFR's tracked universe, ranking #7 of 11. Neither side won the trailing year by much: +23.0% against +26.3%. Note the risk asymmetry: GFR runs 2.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
GFR vs QQQ: side by side
| GFR (Greenfire Resources Ltd.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +23.0% | +26.3% |
| 5-year return | -37.0% | +95.4% |
| Volatility (ann.) | 53.7% | 19.6% |
| Beta vs S&P 500 | 0.55 | 1.28 |
| Max drawdown (3Y) | -63.5% | -22.8% |
| Market cap | $0.9B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | US Listed | ETF · US Growth & Tech |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | GFR | QQQ |
|---|---|---|
| 2022 | +2.7% | -32.6% |
| 2023 | -52.1% | +54.9% |
| 2024 | +45.3% | +25.6% |
| 2025 | -32.6% | +20.8% |
| 2026 | +29.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GFR and QQQ good diversifiers for each other?
Yes. With a correlation of 0.10, GFR and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GFR and QQQ?
As of 2026-08-27, the correlation of weekly returns between GFR and QQQ is 0.10 over 3 years, -0.24 over 1 year and 0.08 over 5 years.
Is QQQ a good diversifier for GFR?
Yes. With a correlation of 0.10, GFR and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.10 mean?
A reading of 0.10 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gfr-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gfr-vs-qqq/)
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Related comparisons
Hubs: GFR correlations · QQQ correlations
