GNL vs QQQ: Correlation
How closely do Global Net Lease, Inc. (GNL) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.10, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GNL and QQQ?
Across a 3-year window, the weekly returns of GNL and QQQ correlate at 0.10, weak. Little has changed lately, as the 1-year reading of 0.03 lands near the 3-year figure. Stretching to 5 years gives 0.25, with an annualized covariance of 57.9 %².
Out of 11 assets tracked against GNL, QQQ lands near the bottom at #8. Neither side won the trailing year by much: +28.2% against +26.3%.
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.
GNL vs QQQ: side by side
| GNL (Global Net Lease, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +28.2% | +26.3% |
| 5-year return | -2.7% | +95.4% |
| Volatility (ann.) | 29.0% | 19.6% |
| Beta vs S&P 500 | 0.50 | 1.28 |
| Max drawdown (3Y) | -35.6% | -22.8% |
| Market cap | $2.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 8.32% | 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 | GNL | QQQ |
|---|---|---|
| 2022 | -7.5% | -32.6% |
| 2023 | -9.0% | +54.9% |
| 2024 | -15.3% | +25.6% |
| 2025 | +32.4% | +20.8% |
| 2026 | +13.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GNL and QQQ good diversifiers for each other?
Yes. With a correlation of 0.10, GNL and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GNL and QQQ?
As of 2026-08-27, the correlation of weekly returns between GNL and QQQ is 0.10 over 3 years, 0.03 over 1 year and 0.25 over 5 years.
Is QQQ a good diversifier for GNL?
Yes. With a correlation of 0.10, GNL and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.10 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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Related comparisons
Hubs: GNL correlations · QQQ correlations
