GUG vs QQQ: Correlation
How closely do Guggenheim Active Allocation Fund (GUG) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.36, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GUG and QQQ?
Over the past 3 years, GUG and QQQ moved with a correlation of 0.36, which is moderate. Recent behaviour matches the longer record: 0.29 over 1 year against 0.36 over 3. Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 90.6 %².
Among the 12 assets we track against GUG, QQQ sits near the bottom by co-movement, at rank #9. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 20.9 percentage points (+5.4% for GUG against +26.3% for QQQ). One caveat on sizing: QQQ is 1.5 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.
GUG vs QQQ: side by side
| GUG (Guggenheim Active Allocation Fund) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +5.4% | +26.3% |
| 5-year return | +16.3% | +95.4% |
| Volatility (ann.) | 12.9% | 19.6% |
| Beta vs S&P 500 | 0.40 | 1.28 |
| Max drawdown (3Y) | -12.1% | -22.8% |
| Market cap | $0.5B | – |
| P/E (trailing) | 9.1 | – |
| 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 | GUG | QQQ |
|---|---|---|
| 2022 | -26.5% | -32.6% |
| 2023 | +20.7% | +54.9% |
| 2024 | +11.5% | +25.6% |
| 2025 | +13.1% | +20.8% |
| 2026 | +4.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GUG 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 GUG and QQQ?
The GUG/QQQ correlation stands at 0.36 on a 3-year window (1 year: 0.29, 5 years: 0.48), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for GUG?
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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gug-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gug-vs-qqq/)
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Related comparisons
Hubs: GUG correlations · QQQ correlations
