GJO vs QQQ: Correlation
Measured on weekly returns over the past three years, Synthetic Fixed-Income Securities, Inc. on behalf of (GJO) and Invesco QQQ Trust (QQQ) carry a correlation of 0.07, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GJO and QQQ?
On 3 years of weekly data the GJO/QQQ correlation comes out at 0.07, near zero, meaning they move largely independently. The relationship has been stable: the 1-year correlation (0.09) sits close to the 3-year figure. The 5-year figure is 0.08, and annualized covariance runs at 9.1 %².
Within GJO's tracked universe of 16 assets, QQQ comes in at #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 23.7 percentage points (+2.6% for GJO against +26.3% for QQQ). Note the risk asymmetry: QQQ runs 2.8 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.
GJO vs QQQ: side by side
| GJO (Synthetic Fixed-Income Securities, Inc. on behalf of) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +2.6% | +26.3% |
| 5-year return | +27.3% | +95.4% |
| Volatility (ann.) | 6.9% | 19.6% |
| Beta vs S&P 500 | 0.02 | 1.28 |
| Max drawdown (3Y) | -3.2% | -22.8% |
| Dividend yield | – | 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 | GJO | QQQ |
|---|---|---|
| 2022 | +1.6% | -32.6% |
| 2023 | +10.3% | +54.9% |
| 2024 | +5.2% | +25.6% |
| 2025 | +5.6% | +20.8% |
| 2026 | +1.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GJO and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.07 means the two rarely move for the same reasons.
FAQ
What is the correlation between GJO and QQQ?
The GJO/QQQ correlation stands at 0.07 on a 3-year window (1 year: 0.09, 5 years: 0.08), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for GJO?
By historical standards, yes. A correlation of 0.07 means the two rarely move for the same reasons.
What does a correlation of 0.07 mean?
On the −1 to +1 scale, 0.07 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
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Related comparisons
Hubs: GJO correlations · QQQ correlations
