GJT vs QQQ: Correlation
Measured on weekly returns over the past three years, Synthetic Fixed-Income Securities, Inc. Floating Rate (GJT) and Invesco QQQ Trust (QQQ) carry a correlation of -0.05, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GJT and QQQ?
On 3 years of weekly data the GJT/QQQ correlation comes out at -0.05, near zero, meaning they move largely independently. The past 12 months show a tighter link (0.15) than the 3-year average (-0.05). The 5-year figure is -0.03, and annualized covariance runs at -7.2 %².
Within GJT's tracked universe of 20 assets, QQQ comes in at #7 by 3-year correlation. The last year tells two different stories: QQQ led by 17.7 percentage points, +8.6% for GJT against +26.3% for QQQ. Note the risk asymmetry: QQQ runs 2.7 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.
GJT vs QQQ: side by side
| GJT (Synthetic Fixed-Income Securities, Inc. Floating Rate) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +8.6% | +26.3% |
| 5-year return | +44.3% | +95.4% |
| Volatility (ann.) | 7.3% | 19.6% |
| Beta vs S&P 500 | -0.02 | 1.28 |
| Max drawdown (3Y) | -5.3% | -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 | GJT | QQQ |
|---|---|---|
| 2022 | +4.5% | -32.6% |
| 2023 | +13.6% | +54.9% |
| 2024 | +10.6% | +25.6% |
| 2025 | +6.2% | +20.8% |
| 2026 | +3.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GJT and QQQ good diversifiers for each other?
Yes: at -0.05, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GJT and QQQ?
As of 2026-08-27, the correlation of weekly returns between GJT and QQQ is -0.05 over 3 years, 0.15 over 1 year and -0.03 over 5 years.
Is QQQ a good diversifier for GJT?
Yes: at -0.05, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.05 mean?
On the −1 to +1 scale, -0.05 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/gjt-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gjt-vs-qqq/)
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Related comparisons
Hubs: GJT correlations · QQQ correlations
