GOOG vs QQQX: Correlation
Measured on weekly returns over the past three years, Alphabet Inc. (Class C) (GOOG) and Nuveen NASDAQ 100 Dynamic Overwrite Fund - Closed End Fund (QQQX) carry a correlation of 0.54, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GOOG and QQQX?
Over the past 3 years, GOOG and QQQX moved with a correlation of 0.54, which is moderate. Little has changed lately, as the 1-year reading of 0.51 lands near the 3-year figure. Over 5 years the correlation is 0.57, and the annualized covariance of weekly returns is 302.2 %².
By 3-year correlation, QQQX places #14 of the 36 assets tracked against GOOG. The last year tells two different stories: GOOG led by 38.3 percentage points, +62.7% for GOOG against +24.4% for QQQX. Risk is not evenly split, since GOOG carries 1.7 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.
GOOG vs QQQX: side by side
| GOOG (Alphabet Inc. (Class C)) | QQQX (Nuveen NASDAQ 100 Dynamic Overwrite Fund - Closed End Fund) | |
|---|---|---|
| 1-year return | +62.7% | +24.4% |
| 5-year return | +134.2% | +51.0% |
| Volatility (ann.) | 31.1% | 18.1% |
| Beta vs S&P 500 | 1.20 | 1.09 |
| Max drawdown (3Y) | -29.4% | -22.8% |
| Market cap | $4,130.2B | $1.5B |
| P/E (trailing) | 17.0 | 8.1 |
| Dividend yield | 0.25% | 0.00% |
| Sector / category | Communication Services | US Listed |
Year-by-year returns
| Year | GOOG | QQQX |
|---|---|---|
| 2022 | -38.7% | -27.4% |
| 2023 | +58.8% | +21.7% |
| 2024 | +35.6% | +25.6% |
| 2025 | +65.4% | +14.9% |
| 2026 | +7.8% | +13.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GOOG and QQQX good diversifiers for each other?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between GOOG and QQQX?
As of 2026-08-27, the correlation of weekly returns between GOOG and QQQX is 0.54 over 3 years, 0.51 over 1 year and 0.57 over 5 years.
Is QQQX a good diversifier for GOOG?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.54 mean?
A reading of 0.54 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: GOOG correlations · QQQX correlations
