GSHD vs QQQ: Correlation
Goosehead Insurance, Inc. (GSHD) and Invesco QQQ Trust (QQQ) show a near-zero relationship: their 3-year correlation of weekly returns is 0.00.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GSHD and QQQ?
Over the past 3 years, GSHD and QQQ moved with a correlation of 0.00, which is near zero, meaning they move largely independently. Lately the two have drifted apart, with the 1-year correlation at -0.12 versus 0.00 over 3 years. Over 5 years the correlation is 0.32, and the annualized covariance of weekly returns is 5.1 %².
Among the 15 assets we track against GSHD, QQQ sits near the bottom by co-movement, at rank #12. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 44.8 percentage points (-18.5% for GSHD against +26.3% for QQQ). One caveat on sizing: GSHD is 2.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
GSHD vs QQQ: side by side
| GSHD (Goosehead Insurance, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -18.5% | +26.3% |
| 5-year return | -47.2% | +95.4% |
| Volatility (ann.) | 55.1% | 19.6% |
| Beta vs S&P 500 | 0.42 | 1.28 |
| Max drawdown (3Y) | -72.2% | -22.8% |
| Market cap | $2.5B | – |
| P/E (trailing) | 51.4 | – |
| 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 | GSHD | QQQ |
|---|---|---|
| 2022 | -73.6% | -32.6% |
| 2023 | +120.7% | +54.9% |
| 2024 | +41.5% | +25.6% |
| 2025 | -27.4% | +20.8% |
| 2026 | -4.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GSHD and QQQ good diversifiers for each other?
Yes. With a correlation of 0.00, GSHD and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GSHD and QQQ?
Using weekly returns as of 2026-08-27: 0.00 over 3 years, with -0.12 over the last year and 0.32 over 5 years.
Is QQQ a good diversifier for GSHD?
Yes. With a correlation of 0.00, GSHD and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.00 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.
Use this data
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[](https://www.pairbook.io/pair/gshd-vs-qqq/)
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Related comparisons
Hubs: GSHD correlations · QQQ correlations
