GS vs QQQ: Correlation
Goldman Sachs (GS) and Invesco QQQ Trust (QQQ) show a strong relationship: their 3-year correlation of weekly returns is 0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GS and QQQ?
Across a 3-year window, the weekly returns of GS and QQQ correlate at 0.60, strong. Lately the two have drifted apart, with the 1-year correlation at 0.49 versus 0.60 over 3 years. Stretching to 5 years gives 0.59, with an annualized covariance of 316.1 %².
Within GS's tracked universe of 41 assets, QQQ comes in at #23 by 3-year correlation. Correlation aside, the last 12 months split them widely, with GS ahead by 15.3 points (+41.6% versus +26.3%). On a rolling one-year basis the correlation drifted between 0.32 and 0.77, a moderate band.
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.
GS vs QQQ: side by side
| GS (Goldman Sachs) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +41.6% | +26.3% |
| 5-year return | +184.1% | +95.4% |
| Volatility (ann.) | 27.0% | 19.6% |
| Beta vs S&P 500 | 1.34 | 1.28 |
| Max drawdown (3Y) | -30.9% | -22.8% |
| Market cap | $303.1B | – |
| P/E (trailing) | 16.1 | – |
| Dividend yield | 1.63% | 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 | GS | QQQ |
|---|---|---|
| 2022 | -7.9% | -32.6% |
| 2023 | +15.9% | +54.9% |
| 2024 | +52.0% | +25.6% |
| 2025 | +56.6% | +20.8% |
| 2026 | +19.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GS and QQQ good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GS and QQQ?
Using weekly returns as of 2026-08-27: 0.60 over 3 years, with 0.49 over the last year and 0.59 over 5 years.
Is QQQ a good diversifier for GS?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 mean?
On the −1 to +1 scale, 0.60 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/gs-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gs-vs-qqq/)
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Related comparisons
Hubs: GS correlations · QQQ correlations
