GWW vs QQQ: Correlation
How closely do W. W. Grainger (GWW) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GWW and QQQ?
Across a 3-year window, the weekly returns of GWW and QQQ correlate at 0.37, moderate. The link has loosened recently: the 1-year correlation (0.03) runs below the 3-year figure (0.37). Stretching to 5 years gives 0.45, with an annualized covariance of 167.0 %².
By 3-year correlation, QQQ places #18 of the 29 assets tracked against GWW. Their 12-month results are close: +31.0% for GWW against +26.3% for QQQ. This link changes with the market regime, having swung between 0.00 and 0.58 on a rolling one-year basis.
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.
GWW vs QQQ: side by side
| GWW (W. W. Grainger) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +31.0% | +26.3% |
| 5-year return | +219.4% | +95.4% |
| Volatility (ann.) | 23.3% | 19.6% |
| Beta vs S&P 500 | 0.74 | 1.28 |
| Max drawdown (3Y) | -24.5% | -22.8% |
| Market cap | $62.2B | – |
| P/E (trailing) | 34.0 | – |
| Dividend yield | 0.69% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Industrials | 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 | GWW | QQQ |
|---|---|---|
| 2022 | +8.7% | -32.6% |
| 2023 | +50.5% | +54.9% |
| 2024 | +28.2% | +25.6% |
| 2025 | -3.4% | +20.8% |
| 2026 | +31.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GWW and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GWW and QQQ?
As of 2026-08-27, the correlation of weekly returns between GWW and QQQ is 0.37 over 3 years, 0.03 over 1 year and 0.45 over 5 years.
Is QQQ a good diversifier for GWW?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.37 mean?
A reading of 0.37 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/gww-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gww-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GWW correlations · QQQ correlations
