OGG vs QQQ: Correlation
Osisko Gold Group Inc. (OGG) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OGG and QQQ?
On 3 years of weekly data the OGG/QQQ correlation comes out at 0.27, weak. Recent behaviour matches the longer record: 0.37 over 1 year against 0.27 over 3. The 5-year figure is 0.29, and annualized covariance runs at 330.4 %².
QQQ is close to the least connected end of OGG's tracked universe, ranking #7 of 11. Over the last 12 months QQQ came out ahead by 13.1 percentage points (+13.2% against +26.3%). One caveat on sizing: OGG is 3.2 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.
OGG vs QQQ: side by side
| OGG (Osisko Gold Group Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +13.2% | +26.3% |
| 5-year return | -73.6% | +95.4% |
| Volatility (ann.) | 63.4% | 19.6% |
| Beta vs S&P 500 | 1.12 | 1.28 |
| Max drawdown (3Y) | -65.8% | -22.8% |
| Market cap | $1.0B | – |
| 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 | OGG | QQQ |
|---|---|---|
| 2022 | -55.5% | -32.6% |
| 2023 | -32.3% | +54.9% |
| 2024 | -44.0% | +25.6% |
| 2025 | +114.1% | +20.8% |
| 2026 | -9.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OGG and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between OGG and QQQ?
Using weekly returns as of 2026-08-27: 0.27 over 3 years, with 0.37 over the last year and 0.29 over 5 years.
Is QQQ a good diversifier for OGG?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.27 mean?
A reading of 0.27 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: OGG correlations · QQQ correlations
