GWRE vs QQQ: Correlation
How closely do Guidewire Software, Inc. (GWRE) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.23, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GWRE and QQQ?
Across a 3-year window, the weekly returns of GWRE and QQQ correlate at 0.23, weak. Lately the two have drifted apart, with the 1-year correlation at 0.12 versus 0.23 over 3 years. Stretching to 5 years gives 0.41, with an annualized covariance of 204.4 %².
Among the 18 assets we track against GWRE, QQQ sits near the bottom by co-movement, at rank #14. Correlation aside, the last 12 months split them widely, with QQQ ahead by 33.4 points (-7.1% versus +26.3%). One caveat on sizing: GWRE is 2.3 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.
GWRE vs QQQ: side by side
| GWRE (Guidewire Software, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -7.1% | +26.3% |
| 5-year return | +68.2% | +95.4% |
| Volatility (ann.) | 45.6% | 19.6% |
| Beta vs S&P 500 | 0.83 | 1.28 |
| Max drawdown (3Y) | -60.8% | -22.8% |
| Market cap | $16.7B | – |
| P/E (trailing) | 103.1 | – |
| 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 | GWRE | QQQ |
|---|---|---|
| 2022 | -44.9% | -32.6% |
| 2023 | +74.3% | +54.9% |
| 2024 | +54.6% | +25.6% |
| 2025 | +19.2% | +20.8% |
| 2026 | +0.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GWRE and QQQ good diversifiers for each other?
Reasonably. At 0.23, GWRE and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GWRE and QQQ?
Using weekly returns as of 2026-08-27: 0.23 over 3 years, with 0.12 over the last year and 0.41 over 5 years.
Is QQQ a good diversifier for GWRE?
Reasonably. At 0.23, GWRE and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.23 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/gwre-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gwre-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GWRE correlations · QQQ correlations
