OGC vs QQQ: Correlation
How closely do OceanaGold Corporation (OGC) 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 OGC and QQQ?
On 3 years of weekly data the OGC/QQQ correlation comes out at 0.23, weak. Lately the two have moved closer together, with the 1-year correlation at 0.36 versus 0.23 over 3 years. The 5-year figure is 0.26, and annualized covariance runs at 223.1 %².
Out of 12 assets tracked against OGC, QQQ lands near the bottom at #9. Their recent paths diverged sharply: over the last 12 months OGC outperformed by 56.3 percentage points (+82.6% for OGC against +26.3% for QQQ). Note the risk asymmetry: OGC runs 2.6 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.
OGC vs QQQ: side by side
| OGC (OceanaGold Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +82.6% | +26.3% |
| 5-year return | +489.5% | +95.4% |
| Volatility (ann.) | 50.1% | 19.6% |
| Beta vs S&P 500 | 0.86 | 1.28 |
| Max drawdown (3Y) | -47.7% | -22.8% |
| Market cap | $7.0B | – |
| P/E (trailing) | 8.1 | – |
| Dividend yield | 0.78% | 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 | OGC | QQQ |
|---|---|---|
| 2022 | +9.8% | -32.6% |
| 2023 | +2.1% | +54.9% |
| 2024 | +45.1% | +25.6% |
| 2025 | +243.9% | +20.8% |
| 2026 | +12.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OGC and QQQ good diversifiers for each other?
A fair diversifier. At 0.23, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between OGC and QQQ?
Using weekly returns as of 2026-08-27: 0.23 over 3 years, with 0.36 over the last year and 0.26 over 5 years.
Is QQQ a good diversifier for OGC?
A fair diversifier. At 0.23, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
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
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[](https://www.pairbook.io/pair/ogc-vs-qqq/)
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Related comparisons
Hubs: OGC correlations · QQQ correlations
