GTLB vs QQQ: Correlation
GitLab Inc. (GTLB) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GTLB and QQQ?
Across a 3-year window, the weekly returns of GTLB and QQQ correlate at 0.40, moderate. Recent behaviour matches the longer record: 0.33 over 1 year against 0.40 over 3. Stretching to 5 years gives 0.46, with an annualized covariance of 410.1 %².
QQQ is close to the least connected end of GTLB's tracked universe, ranking #15 of 19. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 31.5 percentage points (-5.2% for GTLB against +26.3% for QQQ). Note the risk asymmetry: GTLB runs 2.7 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.
GTLB vs QQQ: side by side
| GTLB (GitLab Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -5.2% | +26.3% |
| 5-year return | -56.9% | +95.4% |
| Volatility (ann.) | 52.0% | 19.6% |
| Beta vs S&P 500 | 1.49 | 1.28 |
| Max drawdown (3Y) | -75.0% | -22.8% |
| Market cap | $7.6B | – |
| 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 | GTLB | QQQ |
|---|---|---|
| 2022 | -47.8% | -32.6% |
| 2023 | +38.6% | +54.9% |
| 2024 | -10.5% | +25.6% |
| 2025 | -33.4% | +20.8% |
| 2026 | +19.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GTLB and QQQ good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GTLB and QQQ?
As of 2026-08-27, the correlation of weekly returns between GTLB and QQQ is 0.40 over 3 years, 0.33 over 1 year and 0.46 over 5 years.
Is QQQ a good diversifier for GTLB?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 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
$ curl https://www.pairbook.io/api/v1/pairs/gtlb-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gtlb-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GTLB correlations · QQQ correlations
