GLRE vs QQQ: Correlation
Measured on weekly returns over the past three years, Greenlight Reinsurance, Ltd. - Class A (GLRE) and Invesco QQQ Trust (QQQ) carry a correlation of 0.10, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GLRE and QQQ?
Across a 3-year window, the weekly returns of GLRE and QQQ correlate at 0.10, weak. Lately the two have drifted apart, with the 1-year correlation at -0.19 versus 0.10 over 3 years. Stretching to 5 years gives 0.18, with an annualized covariance of 48.9 %².
Out of 11 assets tracked against GLRE, QQQ lands near the bottom at #8. The trailing year gives QQQ the advantage: +18.6% versus +26.3%, a 7.7-point spread.
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.
GLRE vs QQQ: side by side
| GLRE (Greenlight Reinsurance, Ltd. - Class A) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +18.6% | +26.3% |
| 5-year return | +84.1% | +95.4% |
| Volatility (ann.) | 24.0% | 19.6% |
| Beta vs S&P 500 | 0.33 | 1.28 |
| Max drawdown (3Y) | -22.8% | -22.8% |
| Market cap | $0.5B | – |
| P/E (trailing) | 10.4 | – |
| 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 | GLRE | QQQ |
|---|---|---|
| 2022 | +4.0% | -32.6% |
| 2023 | +40.1% | +54.9% |
| 2024 | +22.6% | +25.6% |
| 2025 | +4.1% | +20.8% |
| 2026 | +5.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GLRE and QQQ good diversifiers for each other?
Yes: at 0.10, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GLRE and QQQ?
Using weekly returns as of 2026-08-27: 0.10 over 3 years, with -0.19 over the last year and 0.18 over 5 years.
Is QQQ a good diversifier for GLRE?
Yes: at 0.10, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.10 mean?
A reading of 0.10 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/glre-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/glre-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GLRE correlations · QQQ correlations
