GTN vs QQQ: Correlation
Gray Media, Inc. (GTN) and Invesco QQQ Trust (QQQ) show a near-zero relationship: their 3-year correlation of weekly returns is 0.04.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GTN and QQQ?
On 3 years of weekly data the GTN/QQQ correlation comes out at 0.04, near zero, meaning they move largely independently. Little has changed lately, as the 1-year reading of 0.11 lands near the 3-year figure. The 5-year figure is 0.15, and annualized covariance runs at 59.4 %².
QQQ is close to the least connected end of GTN's tracked universe, ranking #11 of 14. Correlation aside, the last 12 months split them widely, with QQQ ahead by 44.3 points (-18.0% versus +26.3%). One caveat on sizing: GTN is 3.5 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.
GTN vs QQQ: side by side
| GTN (Gray Media, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -18.0% | +26.3% |
| 5-year return | -73.2% | +95.4% |
| Volatility (ann.) | 68.6% | 19.6% |
| Beta vs S&P 500 | 0.76 | 1.28 |
| Max drawdown (3Y) | -68.1% | -22.8% |
| Market cap | $0.5B | – |
| P/E (trailing) | – | – |
| Dividend yield | 6.50% | 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 | GTN | QQQ |
|---|---|---|
| 2022 | -43.4% | -32.6% |
| 2023 | -16.7% | +54.9% |
| 2024 | -62.4% | +25.6% |
| 2025 | +64.6% | +20.8% |
| 2026 | +2.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GTN and QQQ good diversifiers for each other?
Yes: at 0.04, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GTN and QQQ?
Using weekly returns as of 2026-08-27: 0.04 over 3 years, with 0.11 over the last year and 0.15 over 5 years.
Is QQQ a good diversifier for GTN?
Yes: at 0.04, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.04 mean?
A reading of 0.04 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gtn-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gtn-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GTN correlations · QQQ correlations
