GMED vs QQQ: Correlation
Globus Medical, Inc. (GMED) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.17.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GMED and QQQ?
Across a 3-year window, the weekly returns of GMED and QQQ correlate at 0.17, weak. The past 12 months show a weaker link (-0.07) than the 3-year average (0.17). Stretching to 5 years gives 0.32, with an annualized covariance of 141.3 %².
Among the 15 assets we track against GMED, QQQ ranks #10 by 3-year correlation. On 12-month performance GMED holds a 7.9-point edge, +34.2% against +26.3%. Risk is not evenly split, since GMED carries 2.1 times the volatility of the other side.
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.
GMED vs QQQ: side by side
| GMED (Globus Medical, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +34.2% | +26.3% |
| 5-year return | +0.4% | +95.4% |
| Volatility (ann.) | 41.6% | 19.6% |
| Beta vs S&P 500 | 0.74 | 1.28 |
| Max drawdown (3Y) | -44.4% | -22.8% |
| Market cap | $11.1B | – |
| P/E (trailing) | 21.1 | – |
| 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 | GMED | QQQ |
|---|---|---|
| 2022 | +2.9% | -32.6% |
| 2023 | -28.2% | +54.9% |
| 2024 | +55.2% | +25.6% |
| 2025 | +5.6% | +20.8% |
| 2026 | -5.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GMED and QQQ good diversifiers for each other?
Yes. With a correlation of 0.17, GMED and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GMED and QQQ?
As of 2026-08-27, the correlation of weekly returns between GMED and QQQ is 0.17 over 3 years, -0.07 over 1 year and 0.32 over 5 years.
Is QQQ a good diversifier for GMED?
Yes. With a correlation of 0.17, GMED and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.17 mean?
A reading of 0.17 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
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Related comparisons
Hubs: GMED correlations · QQQ correlations
