GWAV vs QQQ: Correlation
How closely do Greenwave Technology Solutions, Inc. (GWAV) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.19, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GWAV and QQQ?
On 3 years of weekly data the GWAV/QQQ correlation comes out at 0.19, weak. The link has tightened recently: the 1-year correlation (0.40) runs above the 3-year figure (0.19). The 5-year figure is 0.16, and annualized covariance runs at 794.7 %².
By 3-year correlation, QQQ places #7 of the 12 assets tracked against GWAV. The last year tells two different stories: QQQ led by 70.2 percentage points, -43.9% for GWAV against +26.3% for QQQ. Note the risk asymmetry: GWAV runs 10.7 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.
GWAV vs QQQ: side by side
| GWAV (Greenwave Technology Solutions, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -43.9% | +26.3% |
| 5-year return | -100.0% | +95.4% |
| Volatility (ann.) | 209.4% | 19.6% |
| Beta vs S&P 500 | 2.43 | 1.28 |
| Max drawdown (3Y) | -100.0% | -22.8% |
| Market cap | – | – |
| 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 | GWAV | QQQ |
|---|---|---|
| 2022 | -93.8% | -32.6% |
| 2023 | -35.9% | +54.9% |
| 2024 | -99.2% | +25.6% |
| 2025 | -93.2% | +20.8% |
| 2026 | -17.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GWAV and QQQ good diversifiers for each other?
Yes: at 0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GWAV and QQQ?
As of 2026-08-27, the correlation of weekly returns between GWAV and QQQ is 0.19 over 3 years, 0.40 over 1 year and 0.16 over 5 years.
Is QQQ a good diversifier for GWAV?
Yes: at 0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.19 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/gwav-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gwav-vs-qqq/)
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Related comparisons
Hubs: GWAV correlations · QQQ correlations
