GLQ vs TKO: Correlation
How closely do Clough Global Equity Fund (GLQ) and TKO Group Holdings (TKO) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GLQ and TKO?
Over the past 3 years, GLQ and TKO moved with a correlation of 0.39, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.28 versus 0.39 over 3 years. Over 5 years the correlation is 0.34, and the annualized covariance of weekly returns is 208.2 %².
Among the 21 assets we track against GLQ, TKO sits near the bottom by co-movement, at rank #18. Correlation aside, the last 12 months split them widely, with GLQ ahead by 20.8 points (+21.6% versus +0.8%). One caveat on sizing: TKO 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.
GLQ vs TKO: side by side
| GLQ (Clough Global Equity Fund) | TKO (TKO Group Holdings) | |
|---|---|---|
| 1-year return | +21.6% | +0.8% |
| 5-year return | -3.8% | +281.8% |
| Volatility (ann.) | 16.6% | 32.1% |
| Beta vs S&P 500 | 1.00 | 0.70 |
| Max drawdown (3Y) | -19.2% | -34.8% |
| Market cap | – | $34.9B |
| P/E (trailing) | 2.7 | 65.8 |
| Dividend yield | 9.99% | 1.66% |
| Sector / category | US Listed | Communication Services |
Year-by-year returns
| Year | GLQ | TKO |
|---|---|---|
| 2022 | -42.3% | +39.9% |
| 2023 | +2.8% | +23.9% |
| 2024 | +25.2% | +74.2% |
| 2025 | +28.5% | +48.9% |
| 2026 | +13.2% | -11.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GLQ and TKO good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GLQ and TKO?
Using weekly returns as of 2026-08-27: 0.39 over 3 years, with 0.28 over the last year and 0.34 over 5 years.
Is TKO a good diversifier for GLQ?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.39 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
$ curl https://www.pairbook.io/api/v1/pairs/glq-vs-tko.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/glq-vs-tko/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GLQ correlations · TKO correlations
