GOOGL vs QQQX: Correlation
How closely do Alphabet Inc. (Class A) (GOOGL) and Nuveen NASDAQ 100 Dynamic Overwrite Fund - Closed End Fund (QQQX) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GOOGL and QQQX?
On 3 years of weekly data the GOOGL/QQQX correlation comes out at 0.54, moderate. Recent behaviour matches the longer record: 0.51 over 1 year against 0.54 over 3. The 5-year figure is 0.57, and annualized covariance runs at 307.0 %².
Within GOOGL's tracked universe of 37 assets, QQQX comes in at #14 by 3-year correlation. Correlation aside, the last 12 months split them widely, with GOOGL ahead by 40.3 points (+64.7% versus +24.4%). Note the risk asymmetry: GOOGL runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
GOOGL vs QQQX: side by side
| GOOGL (Alphabet Inc. (Class A)) | QQQX (Nuveen NASDAQ 100 Dynamic Overwrite Fund - Closed End Fund) | |
|---|---|---|
| 1-year return | +64.7% | +24.4% |
| 5-year return | +137.7% | +51.0% |
| Volatility (ann.) | 31.4% | 18.1% |
| Beta vs S&P 500 | 1.22 | 1.09 |
| Max drawdown (3Y) | -29.8% | -22.8% |
| Market cap | $4,166.1B | $1.5B |
| P/E (trailing) | 17.2 | 8.1 |
| Dividend yield | 0.25% | 0.00% |
| Sector / category | Communication Services | US Listed |
Year-by-year returns
| Year | GOOGL | QQQX |
|---|---|---|
| 2022 | -39.1% | -27.4% |
| 2023 | +58.3% | +21.7% |
| 2024 | +36.0% | +25.6% |
| 2025 | +66.0% | +14.9% |
| 2026 | +9.0% | +13.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GOOGL 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 GOOGL and QQQX?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.51 over the last year and 0.57 over 5 years.
Is QQQX a good diversifier for GOOGL?
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?
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: GOOGL correlations · QQQX correlations
