GROY vs QQQ: Correlation
Gold Royalty Corp. (GROY) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GROY and QQQ?
On 3 years of weekly data the GROY/QQQ correlation comes out at 0.25, weak. The link has tightened recently: the 1-year correlation (0.45) runs above the 3-year figure (0.25). The 5-year figure is 0.29, and annualized covariance runs at 273.5 %².
Out of 12 assets tracked against GROY, QQQ lands near the bottom at #9. The last year tells two different stories: QQQ led by 22.0 percentage points, +4.3% for GROY against +26.3% for QQQ. Note the risk asymmetry: GROY runs 2.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
GROY vs QQQ: side by side
| GROY (Gold Royalty Corp.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +4.3% | +26.3% |
| 5-year return | -15.6% | +95.4% |
| Volatility (ann.) | 55.2% | 19.6% |
| Beta vs S&P 500 | 1.04 | 1.28 |
| Max drawdown (3Y) | -51.6% | -22.8% |
| Market cap | $0.8B | – |
| 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 | GROY | QQQ |
|---|---|---|
| 2022 | -52.0% | -32.6% |
| 2023 | -36.3% | +54.9% |
| 2024 | -17.7% | +25.6% |
| 2025 | +233.9% | +20.8% |
| 2026 | -15.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GROY and QQQ good diversifiers for each other?
Reasonably. At 0.25, GROY and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GROY and QQQ?
Using weekly returns as of 2026-08-27: 0.25 over 3 years, with 0.45 over the last year and 0.29 over 5 years.
Is QQQ a good diversifier for GROY?
Reasonably. At 0.25, GROY and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.25 mean?
On the −1 to +1 scale, 0.25 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: GROY correlations · QQQ correlations
