GPI vs QQQ: Correlation
Measured on weekly returns over the past three years, Group 1 Automotive, Inc. (GPI) and Invesco QQQ Trust (QQQ) carry a correlation of 0.24, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GPI and QQQ?
Across a 3-year window, the weekly returns of GPI and QQQ correlate at 0.24, weak. The past 12 months show a weaker link (0.06) than the 3-year average (0.24). Stretching to 5 years gives 0.28, with an annualized covariance of 150.0 %².
Among the 10 assets we track against GPI, QQQ sits near the bottom by co-movement, at rank #7. The last year tells two different stories: QQQ led by 71.1 percentage points, -44.8% for GPI against +26.3% for QQQ. One caveat on sizing: GPI is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
GPI vs QQQ: side by side
| GPI (Group 1 Automotive, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -44.8% | +26.3% |
| 5-year return | +64.3% | +95.4% |
| Volatility (ann.) | 31.9% | 19.6% |
| Beta vs S&P 500 | 0.68 | 1.28 |
| Max drawdown (3Y) | -48.6% | -22.8% |
| Market cap | $3.1B | – |
| P/E (trailing) | 10.8 | – |
| Dividend yield | 0.04% | 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 | GPI | QQQ |
|---|---|---|
| 2022 | -6.9% | -32.6% |
| 2023 | +70.2% | +54.9% |
| 2024 | +39.1% | +25.6% |
| 2025 | -6.3% | +20.8% |
| 2026 | -33.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GPI and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.24 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GPI and QQQ?
As of 2026-08-27, the correlation of weekly returns between GPI and QQQ is 0.24 over 3 years, 0.06 over 1 year and 0.28 over 5 years.
Is QQQ a good diversifier for GPI?
Yes, to a useful degree: a correlation of 0.24 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.24 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.
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Related comparisons
Hubs: GPI correlations · QQQ correlations
