GIC vs QQQ: Correlation
Measured on weekly returns over the past three years, Global Industrial Company (GIC) and Invesco QQQ Trust (QQQ) carry a correlation of 0.25, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GIC and QQQ?
On 3 years of weekly data the GIC/QQQ correlation comes out at 0.25, weak. Lately the two have drifted apart, with the 1-year correlation at -0.06 versus 0.25 over 3 years. The 5-year figure is 0.37, and annualized covariance runs at 173.8 %².
QQQ is close to the least connected end of GIC's tracked universe, ranking #11 of 14. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 17.6 percentage points (+8.7% for GIC against +26.3% for QQQ). Risk is not evenly split, since GIC carries 1.8 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.
GIC vs QQQ: side by side
| GIC (Global Industrial Company) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +8.7% | +26.3% |
| 5-year return | +21.2% | +95.4% |
| Volatility (ann.) | 35.8% | 19.6% |
| Beta vs S&P 500 | 0.84 | 1.28 |
| Max drawdown (3Y) | -53.2% | -22.8% |
| Market cap | $1.5B | – |
| P/E (trailing) | 17.8 | – |
| Dividend yield | 2.74% | 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 | GIC | QQQ |
|---|---|---|
| 2022 | -41.0% | -32.6% |
| 2023 | +69.7% | +54.9% |
| 2024 | -34.3% | +25.6% |
| 2025 | +22.4% | +20.8% |
| 2026 | +39.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GIC and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.25 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GIC and QQQ?
Using weekly returns as of 2026-08-27: 0.25 over 3 years, with -0.06 over the last year and 0.37 over 5 years.
Is QQQ a good diversifier for GIC?
Yes, to a useful degree: a correlation of 0.25 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.25 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.
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Related comparisons
Hubs: GIC correlations · QQQ correlations
