GHM vs QQQ: Correlation
Graham Corporation (GHM) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GHM and QQQ?
Across a 3-year window, the weekly returns of GHM and QQQ correlate at 0.39, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.27 versus 0.39 over 3 years. Stretching to 5 years gives 0.30, with an annualized covariance of 379.1 %².
QQQ is close to the least connected end of GHM's tracked universe, ranking #7 of 10. Correlation aside, the last 12 months split them widely, with GHM ahead by 59.9 points (+86.2% versus +26.3%). Risk is not evenly split, since GHM carries 2.5 times the volatility of the other side.
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.
GHM vs QQQ: side by side
| GHM (Graham Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +86.2% | +26.3% |
| 5-year return | +676.7% | +95.4% |
| Volatility (ann.) | 49.3% | 19.6% |
| Beta vs S&P 500 | 1.56 | 1.28 |
| Max drawdown (3Y) | -46.5% | -22.8% |
| Market cap | $1.1B | – |
| P/E (trailing) | 88.9 | – |
| 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 | GHM | QQQ |
|---|---|---|
| 2022 | -22.7% | -32.6% |
| 2023 | +97.2% | +54.9% |
| 2024 | +134.4% | +25.6% |
| 2025 | +44.4% | +20.8% |
| 2026 | +45.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GHM and QQQ good diversifiers for each other?
Reasonably. At 0.39, GHM and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GHM and QQQ?
As of 2026-08-27, the correlation of weekly returns between GHM and QQQ is 0.39 over 3 years, 0.27 over 1 year and 0.30 over 5 years.
Is QQQ a good diversifier for GHM?
Reasonably. At 0.39, GHM and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.39 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
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Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: GHM correlations · QQQ correlations
