GP vs QQQ: Correlation
How closely do GreenPower Motor Company Inc. (GP) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.27, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GP and QQQ?
On 3 years of weekly data the GP/QQQ correlation comes out at 0.27, weak. Little has changed lately, as the 1-year reading of 0.21 lands near the 3-year figure. The 5-year figure is 0.34, and annualized covariance runs at 544.3 %².
Out of 12 assets tracked against GP, QQQ lands near the bottom at #8. Correlation aside, the last 12 months split them widely, with QQQ ahead by 87.6 points (-61.3% versus +26.3%). Risk is not evenly split, since GP carries 5.3 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.
GP vs QQQ: side by side
| GP (GreenPower Motor Company Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -61.3% | +26.3% |
| 5-year return | -99.0% | +95.4% |
| Volatility (ann.) | 104.8% | 19.6% |
| Beta vs S&P 500 | 1.76 | 1.28 |
| Max drawdown (3Y) | -98.0% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| 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 | GP | QQQ |
|---|---|---|
| 2022 | -81.8% | -32.6% |
| 2023 | +80.9% | +54.9% |
| 2024 | -75.4% | +25.6% |
| 2025 | -89.9% | +20.8% |
| 2026 | +71.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GP and QQQ good diversifiers for each other?
Reasonably. At 0.27, GP and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GP and QQQ?
The GP/QQQ correlation stands at 0.27 on a 3-year window (1 year: 0.21, 5 years: 0.34), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for GP?
Reasonably. At 0.27, GP and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.27 mean?
On the −1 to +1 scale, 0.27 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: GP correlations · QQQ correlations
