GFS vs QQQ: Correlation
How closely do GlobalFoundries Inc. (GFS) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.60, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GFS and QQQ?
Across a 3-year window, the weekly returns of GFS and QQQ correlate at 0.60, strong. Little has changed lately, as the 1-year reading of 0.52 lands near the 3-year figure. Stretching to 5 years gives 0.61, with an annualized covariance of 522.6 %².
By 3-year correlation, QQQ places #7 of the 17 assets tracked against GFS. On 12-month performance GFS holds a 10.3-point edge, +36.6% against +26.3%. One caveat on sizing: GFS is 2.3 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
GFS vs QQQ: side by side
| GFS (GlobalFoundries Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +36.6% | +26.3% |
| 5-year return | +0.0% | +95.4% |
| Volatility (ann.) | 44.9% | 19.6% |
| Beta vs S&P 500 | 1.69 | 1.28 |
| Max drawdown (3Y) | -51.2% | -22.8% |
| Market cap | $25.4B | – |
| P/E (trailing) | 35.6 | – |
| Dividend yield | 0.26% | 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 | GFS | QQQ |
|---|---|---|
| 2022 | -17.1% | -32.6% |
| 2023 | +12.5% | +54.9% |
| 2024 | -29.2% | +25.6% |
| 2025 | -18.6% | +20.8% |
| 2026 | +32.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GFS and QQQ good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GFS and QQQ?
The GFS/QQQ correlation stands at 0.60 on a 3-year window (1 year: 0.52, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for GFS?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 mean?
A reading of 0.60 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/gfs-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gfs-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GFS correlations · QQQ correlations
