GJP vs QQQ: Correlation
Synthetic Fixed-Income Securities, Inc. on behalf of STRATS (GJP) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GJP and QQQ?
On 3 years of weekly data the GJP/QQQ correlation comes out at 0.19, weak. Recent behaviour matches the longer record: 0.25 over 1 year against 0.19 over 3. The 5-year figure is 0.12, and annualized covariance runs at 37.3 %².
QQQ is close to the least connected end of GJP's tracked universe, ranking #7 of 11. The last year tells two different stories: QQQ led by 20.7 percentage points, +5.6% for GJP against +26.3% for QQQ. One caveat on sizing: QQQ is 1.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
GJP vs QQQ: side by side
| GJP (Synthetic Fixed-Income Securities, Inc. on behalf of STRATS) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +5.6% | +26.3% |
| 5-year return | +30.4% | +95.4% |
| Volatility (ann.) | 10.3% | 19.6% |
| Beta vs S&P 500 | 0.13 | 1.28 |
| Max drawdown (3Y) | -5.8% | -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 | GJP | QQQ |
|---|---|---|
| 2022 | +4.2% | -32.6% |
| 2023 | +7.1% | +54.9% |
| 2024 | +7.2% | +25.6% |
| 2025 | +5.2% | +20.8% |
| 2026 | +2.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GJP and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between GJP and QQQ?
As of 2026-08-27, the correlation of weekly returns between GJP and QQQ is 0.19 over 3 years, 0.25 over 1 year and 0.12 over 5 years.
Is QQQ a good diversifier for GJP?
By historical standards, yes. A correlation of 0.19 means the two rarely move for the same reasons.
What does a correlation of 0.19 mean?
On the −1 to +1 scale, 0.19 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: GJP correlations · QQQ correlations
