GLBE vs QQQ: Correlation
Measured on weekly returns over the past three years, Global-E Online Ltd. (GLBE) and Invesco QQQ Trust (QQQ) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GLBE and QQQ?
Over the past 3 years, GLBE and QQQ moved with a correlation of 0.44, which is moderate. Recent behaviour matches the longer record: 0.36 over 1 year against 0.44 over 3. Over 5 years the correlation is 0.51, and the annualized covariance of weekly returns is 446.3 %².
Within GLBE's tracked universe of 13 assets, QQQ comes in at #8 by 3-year correlation. On 12-month performance QQQ holds a 6.9-point edge, +19.4% against +26.3%. One caveat on sizing: GLBE is 2.6 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.
GLBE vs QQQ: side by side
| GLBE (Global-E Online Ltd.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +19.4% | +26.3% |
| 5-year return | -51.4% | +95.4% |
| Volatility (ann.) | 51.3% | 19.6% |
| Beta vs S&P 500 | 1.64 | 1.28 |
| Max drawdown (3Y) | -56.2% | -22.8% |
| Market cap | $6.6B | – |
| P/E (trailing) | 44.4 | – |
| Dividend yield | 0.00% | 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 | GLBE | QQQ |
|---|---|---|
| 2022 | -67.4% | -32.6% |
| 2023 | +92.0% | +54.9% |
| 2024 | +37.6% | +25.6% |
| 2025 | -27.9% | +20.8% |
| 2026 | +0.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GLBE and QQQ good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GLBE and QQQ?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.36 over the last year and 0.51 over 5 years.
Is QQQ a good diversifier for GLBE?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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/glbe-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/glbe-vs-qqq/)
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Related comparisons
Hubs: GLBE correlations · QQQ correlations
