GPK vs QQQ: Correlation
Measured on weekly returns over the past three years, Graphic Packaging Holding Company (GPK) and Invesco QQQ Trust (QQQ) carry a correlation of 0.26, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GPK and QQQ?
Across a 3-year window, the weekly returns of GPK and QQQ correlate at 0.26, weak. Recent behaviour matches the longer record: 0.36 over 1 year against 0.26 over 3. Stretching to 5 years gives 0.31, with an annualized covariance of 156.6 %².
Among the 13 assets we track against GPK, QQQ sits near the bottom by co-movement, at rank #10. The last year tells two different stories: QQQ led by 74.0 percentage points, -47.7% for GPK against +26.3% for QQQ. One caveat on sizing: GPK 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.
GPK vs QQQ: side by side
| GPK (Graphic Packaging Holding Company) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -47.7% | +26.3% |
| 5-year return | -39.0% | +95.4% |
| Volatility (ann.) | 30.7% | 19.6% |
| Beta vs S&P 500 | 0.71 | 1.28 |
| Max drawdown (3Y) | -69.7% | -22.8% |
| Market cap | $3.4B | – |
| P/E (trailing) | 17.7 | – |
| Dividend yield | 3.84% | 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 | GPK | QQQ |
|---|---|---|
| 2022 | +15.9% | -32.6% |
| 2023 | +12.7% | +54.9% |
| 2024 | +11.7% | +25.6% |
| 2025 | -43.3% | +20.8% |
| 2026 | -23.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GPK and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.26 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GPK and QQQ?
As of 2026-08-27, the correlation of weekly returns between GPK and QQQ is 0.26 over 3 years, 0.36 over 1 year and 0.31 over 5 years.
Is QQQ a good diversifier for GPK?
Yes, to a useful degree: a correlation of 0.26 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.26 mean?
A reading of 0.26 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: GPK correlations · QQQ correlations
