GPN vs QQQ: Correlation
How closely do Global Payments (GPN) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GPN and QQQ?
Across a 3-year window, the weekly returns of GPN and QQQ correlate at 0.37, moderate. The relationship has been stable: the 1-year correlation (0.27) sits close to the 3-year figure. Stretching to 5 years gives 0.42, with an annualized covariance of 261.3 %².
Among the 39 assets we track against GPN, QQQ ranks #29 by 3-year correlation. The last year tells two different stories: QQQ led by 19.3 percentage points, +7.0% for GPN against +26.3% for QQQ. On a rolling one-year basis the correlation drifted between 0.14 and 0.54, a moderate band. One caveat on sizing: GPN is 1.8 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.
GPN vs QQQ: side by side
| GPN (Global Payments) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +7.0% | +26.3% |
| 5-year return | -39.6% | +95.4% |
| Volatility (ann.) | 35.9% | 19.6% |
| Beta vs S&P 500 | 1.22 | 1.28 |
| Max drawdown (3Y) | -54.0% | -22.8% |
| Market cap | $24.5B | – |
| P/E (trailing) | 44.0 | – |
| Dividend yield | 1.08% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Financials | 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 | GPN | QQQ |
|---|---|---|
| 2022 | -25.9% | -32.6% |
| 2023 | +29.0% | +54.9% |
| 2024 | -11.0% | +25.6% |
| 2025 | -30.1% | +20.8% |
| 2026 | +20.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GPN and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GPN and QQQ?
The GPN/QQQ correlation stands at 0.37 on a 3-year window (1 year: 0.27, 5 years: 0.42), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for GPN?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.37 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: GPN correlations · QQQ correlations
