GGB vs QQQ: Correlation
Measured on weekly returns over the past three years, Gerdau S.A. (GGB) and Invesco QQQ Trust (QQQ) carry a correlation of 0.35, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GGB and QQQ?
Over the past 3 years, GGB and QQQ moved with a correlation of 0.35, which is moderate. The relationship has been stable: the 1-year correlation (0.28) sits close to the 3-year figure. Over 5 years the correlation is 0.32, and the annualized covariance of weekly returns is 236.3 %².
Out of 13 assets tracked against GGB, QQQ lands near the bottom at #9. Correlation aside, the last 12 months split them widely, with GGB ahead by 30.9 points (+57.2% versus +26.3%). Note the risk asymmetry: GGB runs 1.8 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.
GGB vs QQQ: side by side
| GGB (Gerdau S.A.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +57.2% | +26.3% |
| 5-year return | +55.7% | +95.4% |
| Volatility (ann.) | 34.9% | 19.6% |
| Beta vs S&P 500 | 1.02 | 1.28 |
| Max drawdown (3Y) | -44.2% | -22.8% |
| Market cap | $9.2B | – |
| P/E (trailing) | 21.4 | – |
| Dividend yield | 17.71% | 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 | GGB | QQQ |
|---|---|---|
| 2022 | +28.4% | -32.6% |
| 2023 | -1.9% | +54.9% |
| 2024 | -25.9% | +25.6% |
| 2025 | +30.9% | +20.8% |
| 2026 | +30.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GGB and QQQ good diversifiers for each other?
Reasonably. At 0.35, GGB and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GGB and QQQ?
As of 2026-08-27, the correlation of weekly returns between GGB and QQQ is 0.35 over 3 years, 0.28 over 1 year and 0.32 over 5 years.
Is QQQ a good diversifier for GGB?
Reasonably. At 0.35, GGB and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.35 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ggb-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ggb-vs-qqq/)
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Related comparisons
Hubs: GGB correlations · QQQ correlations
