GLQ vs VOO: Correlation
Measured on weekly returns over the past three years, Clough Global Equity Fund (GLQ) and Vanguard S&P 500 ETF (VOO) carry a correlation of 0.87, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GLQ and VOO?
Over the past 3 years, GLQ and VOO moved with a correlation of 0.87, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.79 lands near the 3-year figure. Over 5 years the correlation is 0.77, and the annualized covariance of weekly returns is 208.0 %².
Among the 21 assets we track against GLQ, VOO ranks #5 by 3-year correlation. Their 12-month results are close: +21.6% for GLQ against +20.6% for VOO.
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 VOO: side by side
| GLQ (Clough Global Equity Fund) | VOO (Vanguard S&P 500 ETF) | |
|---|---|---|
| 1-year return | +21.6% | +20.6% |
| 5-year return | -3.8% | +83.0% |
| Volatility (ann.) | 16.6% | 14.4% |
| Beta vs S&P 500 | 1.00 | 0.99 |
| Max drawdown (3Y) | -19.2% | -18.7% |
| Market cap | – | – |
| P/E (trailing) | 2.7 | – |
| Dividend yield | 9.99% | 1.07% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $1,686.9B |
| Sector / category | US Listed | ETF · US Large Cap |
VOO, Vanguard's Large Blend fund, carries $1,686.9B under management, 503 holdings, a 0.03% expense ratio, a 1.07% trailing dividend yield.
Year-by-year returns
| Year | GLQ | VOO |
|---|---|---|
| 2022 | -42.3% | -18.2% |
| 2023 | +2.8% | +26.3% |
| 2024 | +25.2% | +25.0% |
| 2025 | +28.5% | +17.8% |
| 2026 | +13.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GLQ and VOO good diversifiers for each other?
No: a correlation of 0.87 means GLQ and VOO tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between GLQ and VOO?
The GLQ/VOO correlation stands at 0.87 on a 3-year window (1 year: 0.79, 5 years: 0.77), computed from weekly returns as of 2026-08-27.
Is VOO a good diversifier for GLQ?
No: a correlation of 0.87 means GLQ and VOO tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.87 mean?
On the −1 to +1 scale, 0.87 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.
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Related comparisons
Hubs: GLQ correlations · VOO correlations
