QQQ vs USGO: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and U.S. GoldMining Inc. (USGO) carry a correlation of 0.19, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and USGO?
On 3 years of weekly data the QQQ/USGO correlation comes out at 0.19, weak. Recent behaviour matches the longer record: 0.18 over 1 year against 0.19 over 3. The 5-year figure is n/a, and annualized covariance runs at 317.1 %².
By 3-year correlation, USGO places #2990 of the 4755 assets tracked against QQQ. Over the last 12 months QQQ came out ahead by 14.3 percentage points (+26.3% against +12.0%). Risk is not evenly split, since USGO carries 4.4 times the volatility of the other side.
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 USGO: side by side
| QQQ (Invesco QQQ Trust) | USGO (U.S. GoldMining Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +12.0% |
| 5-year return | +95.4% | n/a |
| Volatility (ann.) | 19.6% | 85.5% |
| Beta vs S&P 500 | 1.28 | 1.08 |
| Max drawdown (3Y) | -22.8% | -53.7% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.44% | 0.00% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | US Listed |
QQQ, Invesco's Large Growth fund, carries $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | QQQ | USGO |
|---|---|---|
| 2022 | -32.6% | – |
| 2023 | +54.9% | – |
| 2024 | +25.6% | +17.9% |
| 2025 | +20.8% | +2.4% |
| 2026 | +17.7% | +10.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and USGO good diversifiers for each other?
By historical standards, yes. A correlation of 0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between QQQ and USGO?
The QQQ/USGO correlation stands at 0.19 on a 3-year window (1 year: 0.18, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is USGO a good diversifier for QQQ?
By historical standards, yes. A correlation of 0.19 means the two rarely move for the same reasons.
What does a correlation of 0.19 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/qqq-vs-usgo.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-usgo/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: QQQ correlations · USGO correlations
