GSBD vs QQQ: Correlation
Goldman Sachs BDC, Inc. (GSBD) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GSBD and QQQ?
Across a 3-year window, the weekly returns of GSBD and QQQ correlate at 0.36, moderate. Little has changed lately, as the 1-year reading of 0.31 lands near the 3-year figure. Stretching to 5 years gives 0.42, with an annualized covariance of 145.2 %².
Out of 17 assets tracked against GSBD, QQQ lands near the bottom at #14. The last year tells two different stories: QQQ led by 22.0 percentage points, +4.3% for GSBD against +26.3% for QQQ.
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.
GSBD vs QQQ: side by side
| GSBD (Goldman Sachs BDC, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +4.3% | +26.3% |
| 5-year return | +1.8% | +95.4% |
| Volatility (ann.) | 20.9% | 19.6% |
| Beta vs S&P 500 | 0.62 | 1.28 |
| Max drawdown (3Y) | -29.6% | -22.8% |
| Market cap | $1.1B | – |
| P/E (trailing) | 19.1 | – |
| Dividend yield | 12.77% | 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 | GSBD | QQQ |
|---|---|---|
| 2022 | -20.1% | -32.6% |
| 2023 | +21.0% | +54.9% |
| 2024 | -6.2% | +25.6% |
| 2025 | -8.8% | +20.8% |
| 2026 | +17.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GSBD and QQQ good diversifiers for each other?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GSBD and QQQ?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.31 over the last year and 0.42 over 5 years.
Is QQQ a good diversifier for GSBD?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.36 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: GSBD correlations · QQQ correlations
