GGN vs QQQ: Correlation
How closely do GAMCO Global Gold, Natural Resources & Income Trust (GGN) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.23, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GGN and QQQ?
Over the past 3 years, GGN and QQQ moved with a correlation of 0.23, which is weak. Recent behaviour matches the longer record: 0.24 over 1 year against 0.23 over 3. Over 5 years the correlation is 0.30, and the annualized covariance of weekly returns is 84.1 %².
Out of 17 assets tracked against GGN, QQQ lands near the bottom at #14. Neither side won the trailing year by much: +28.6% against +26.3%.
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.
GGN vs QQQ: side by side
| GGN (GAMCO Global Gold, Natural Resources & Income Trust) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +28.6% | +26.3% |
| 5-year return | +128.2% | +95.4% |
| Volatility (ann.) | 18.5% | 19.6% |
| Beta vs S&P 500 | 0.36 | 1.28 |
| Max drawdown (3Y) | -16.9% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 2.8 | – |
| Dividend yield | 6.36% | 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 | GGN | QQQ |
|---|---|---|
| 2022 | +6.8% | -32.6% |
| 2023 | +14.1% | +54.9% |
| 2024 | +9.6% | +25.6% |
| 2025 | +48.2% | +20.8% |
| 2026 | +15.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GGN and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.23 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GGN and QQQ?
As of 2026-08-27, the correlation of weekly returns between GGN and QQQ is 0.23 over 3 years, 0.24 over 1 year and 0.30 over 5 years.
Is QQQ a good diversifier for GGN?
Yes, to a useful degree: a correlation of 0.23 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.23 mean?
A reading of 0.23 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: GGN correlations · QQQ correlations
