GRX vs QQQ: Correlation
Measured on weekly returns over the past three years, The Gabelli Healthcare & Wellness Trust (GRX) and Invesco QQQ Trust (QQQ) carry a correlation of 0.28, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRX and QQQ?
Across a 3-year window, the weekly returns of GRX and QQQ correlate at 0.28, weak. Lately the two have drifted apart, with the 1-year correlation at 0.06 versus 0.28 over 3 years. Stretching to 5 years gives 0.48, with an annualized covariance of 83.2 %².
Among the 26 assets we track against GRX, QQQ sits near the bottom by co-movement, at rank #23. On 12-month performance QQQ holds a 12.0-point edge, +14.3% against +26.3%.
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.
GRX vs QQQ: side by side
| GRX (The Gabelli Healthcare & Wellness Trust) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +14.3% | +26.3% |
| 5-year return | +1.5% | +95.4% |
| Volatility (ann.) | 15.1% | 19.6% |
| Beta vs S&P 500 | 0.46 | 1.28 |
| Max drawdown (3Y) | -17.9% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 67.0 | – |
| 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 | GRX | QQQ |
|---|---|---|
| 2022 | -20.0% | -32.6% |
| 2023 | -3.3% | +54.9% |
| 2024 | +9.6% | +25.6% |
| 2025 | +7.0% | +20.8% |
| 2026 | +8.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRX and QQQ good diversifiers for each other?
Reasonably. At 0.28, GRX and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GRX and QQQ?
The GRX/QQQ correlation stands at 0.28 on a 3-year window (1 year: 0.06, 5 years: 0.48), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for GRX?
Reasonably. At 0.28, GRX and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.28 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: GRX correlations · QQQ correlations
