QQQ vs TGB: Correlation
Invesco QQQ Trust (QQQ) and Trekor Metals Limited (TGB) show a moderate relationship: their 3-year correlation of weekly returns is 0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and TGB?
Over the past 3 years, QQQ and TGB moved with a correlation of 0.41, which is moderate. Recent behaviour matches the longer record: 0.47 over 1 year against 0.41 over 3. Over 5 years the correlation is 0.38, and the annualized covariance of weekly returns is 499.2 %².
By 3-year correlation, TGB places #584 of the 4755 assets tracked against QQQ. Their recent paths diverged sharply: over the last 12 months TGB outperformed by 178.1 percentage points (+26.3% for QQQ against +204.4% for TGB). Note the risk asymmetry: TGB runs 3.2 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.
QQQ vs TGB: side by side
| QQQ (Invesco QQQ Trust) | TGB (Trekor Metals Limited) | |
|---|---|---|
| 1-year return | +26.3% | +204.4% |
| 5-year return | +95.4% | +450.0% |
| Volatility (ann.) | 19.6% | 62.1% |
| Beta vs S&P 500 | 1.28 | 1.89 |
| Max drawdown (3Y) | -22.8% | -44.3% |
| Market cap | – | $3.5B |
| P/E (trailing) | – | 484.0 |
| Dividend yield | 0.44% | 0.00% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | US Listed |
On the fund side, QQQ sits in the Large Growth category at Invesco, with $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | QQQ | TGB |
|---|---|---|
| 2022 | -32.6% | -28.3% |
| 2023 | +54.9% | -4.8% |
| 2024 | +25.6% | +38.6% |
| 2025 | +20.8% | +191.8% |
| 2026 | +17.7% | +71.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and TGB good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between QQQ and TGB?
As of 2026-08-27, the correlation of weekly returns between QQQ and TGB is 0.41 over 3 years, 0.47 over 1 year and 0.38 over 5 years.
Is TGB a good diversifier for QQQ?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.41 mean?
A reading of 0.41 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/qqq-vs-tgb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/qqq-vs-tgb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: QQQ correlations · TGB correlations
