GLD vs QQQ: Correlation
SPDR Gold Shares (GLD) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.13.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GLD and QQQ?
Across a 3-year window, the weekly returns of GLD and QQQ correlate at 0.13, weak. The link has tightened recently: the 1-year correlation (0.35) runs above the 3-year figure (0.13). Stretching to 5 years gives 0.16, with an annualized covariance of 48.2 %².
By 3-year correlation, QQQ places #18 of the 30 assets tracked against GLD. On 12-month performance GLD holds a 8.8-point edge, +35.1% against +26.3%. This link changes with the market regime, having swung between -0.13 and 0.44 on a rolling one-year basis.
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.
GLD vs QQQ: side by side
| GLD (SPDR Gold Shares) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +35.1% | +26.3% |
| 5-year return | +149.5% | +95.4% |
| Volatility (ann.) | 18.7% | 19.6% |
| Beta vs S&P 500 | 0.18 | 1.28 |
| Max drawdown (3Y) | -26.4% | -22.8% |
| Dividend yield | – | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | ETF · Commodities | 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 | GLD | QQQ |
|---|---|---|
| 2022 | -0.8% | -32.6% |
| 2023 | +12.7% | +54.9% |
| 2024 | +26.7% | +25.6% |
| 2025 | +63.7% | +20.8% |
| 2026 | +6.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GLD and QQQ good diversifiers for each other?
Yes. With a correlation of 0.13, GLD and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GLD and QQQ?
The GLD/QQQ correlation stands at 0.13 on a 3-year window (1 year: 0.35, 5 years: 0.16), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for GLD?
Yes. With a correlation of 0.13, GLD and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.13 mean?
On the −1 to +1 scale, 0.13 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/gld-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gld-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GLD correlations · QQQ correlations
