GLQ vs QQQ: Correlation
How closely do Clough Global Equity Fund (GLQ) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.81, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GLQ and QQQ?
On 3 years of weekly data the GLQ/QQQ correlation comes out at 0.81, very strong, meaning they move nearly in lockstep. Lately the two have drifted apart, with the 1-year correlation at 0.70 versus 0.81 over 3 years. The 5-year figure is 0.70, and annualized covariance runs at 262.8 %².
Within GLQ's tracked universe of 21 assets, QQQ comes in at #10 by 3-year correlation. Their 12-month results are close: +21.6% for GLQ against +26.3% for QQQ.
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.
GLQ vs QQQ: side by side
| GLQ (Clough Global Equity Fund) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +21.6% | +26.3% |
| 5-year return | -3.8% | +95.4% |
| Volatility (ann.) | 16.6% | 19.6% |
| Beta vs S&P 500 | 1.00 | 1.28 |
| Max drawdown (3Y) | -19.2% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 2.7 | – |
| Dividend yield | 9.99% | 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 | GLQ | QQQ |
|---|---|---|
| 2022 | -42.3% | -32.6% |
| 2023 | +2.8% | +54.9% |
| 2024 | +25.2% | +25.6% |
| 2025 | +28.5% | +20.8% |
| 2026 | +13.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GLQ and QQQ good diversifiers for each other?
Not really. At 0.81, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between GLQ and QQQ?
The GLQ/QQQ correlation stands at 0.81 on a 3-year window (1 year: 0.70, 5 years: 0.70), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for GLQ?
Not really. At 0.81, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.81 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
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[](https://www.pairbook.io/pair/glq-vs-qqq/)
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Related comparisons
Hubs: GLQ correlations · QQQ correlations
