GRMN vs QQQ: Correlation
How closely do Garmin (GRMN) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.34, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRMN and QQQ?
Over the past 3 years, GRMN and QQQ moved with a correlation of 0.34, which is moderate. The link has loosened recently: the 1-year correlation (0.19) runs below the 3-year figure (0.34). Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 230.9 %².
Among the 36 assets we track against GRMN, QQQ ranks #26 by 3-year correlation. Their 12-month results are close: +25.1% for GRMN against +26.3% for QQQ. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.03 to 0.66. Risk is not evenly split, since GRMN carries 1.8 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.
GRMN vs QQQ: side by side
| GRMN (Garmin) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +25.1% | +26.3% |
| 5-year return | +80.9% | +95.4% |
| Volatility (ann.) | 34.7% | 19.6% |
| Beta vs S&P 500 | 1.06 | 1.28 |
| Max drawdown (3Y) | -28.0% | -22.8% |
| Market cap | $55.9B | – |
| P/E (trailing) | 29.9 | – |
| Dividend yield | 1.45% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Consumer Discretionary | 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 | GRMN | QQQ |
|---|---|---|
| 2022 | -30.2% | -32.6% |
| 2023 | +43.1% | +54.9% |
| 2024 | +63.3% | +25.6% |
| 2025 | -0.1% | +20.8% |
| 2026 | +44.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRMN and QQQ good diversifiers for each other?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GRMN and QQQ?
As of 2026-08-27, the correlation of weekly returns between GRMN and QQQ is 0.34 over 3 years, 0.19 over 1 year and 0.44 over 5 years.
Is QQQ a good diversifier for GRMN?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/grmn-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/grmn-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GRMN correlations · QQQ correlations
