GIL vs QQQ: Correlation
Gildan Activewear, Inc. Class A Sub. Vot. (GIL) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GIL and QQQ?
Across a 3-year window, the weekly returns of GIL and QQQ correlate at 0.37, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.18 versus 0.37 over 3 years. Stretching to 5 years gives 0.44, with an annualized covariance of 231.0 %².
QQQ is close to the least connected end of GIL's tracked universe, ranking #8 of 11. Correlation aside, the last 12 months split them widely, with QQQ ahead by 28.9 points (-2.6% versus +26.3%). Risk is not evenly split, since GIL carries 1.6 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.
GIL vs QQQ: side by side
| GIL (Gildan Activewear, Inc. Class A Sub. Vot.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -2.6% | +26.3% |
| 5-year return | +52.0% | +95.4% |
| Volatility (ann.) | 31.8% | 19.6% |
| Beta vs S&P 500 | 1.02 | 1.28 |
| Max drawdown (3Y) | -31.3% | -22.8% |
| Market cap | $9.9B | – |
| P/E (trailing) | 41.6 | – |
| Dividend yield | 1.77% | 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 | GIL | QQQ |
|---|---|---|
| 2022 | -33.9% | -32.6% |
| 2023 | +23.6% | +54.9% |
| 2024 | +45.3% | +25.6% |
| 2025 | +34.5% | +20.8% |
| 2026 | -13.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GIL and QQQ good diversifiers for each other?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GIL and QQQ?
As of 2026-08-27, the correlation of weekly returns between GIL and QQQ is 0.37 over 3 years, 0.18 over 1 year and 0.44 over 5 years.
Is QQQ a good diversifier for GIL?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gil-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gil-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GIL correlations · QQQ correlations
