GC=F vs. QQQ

Last updated Jun 10, 2026

GC=F (Gold Futures) is an asset, while QQQ (Invesco QQQ ETF) is Nasdaq-100 fund tracking the NASDAQ-100 Index. At a correlation of -0.04, they often move in opposite directions.

Performance

GC=F vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gold Futures (GC=F) and Invesco QQQ ETF (QQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

GC=F

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QQQ

• 1D: -1.15%
• 1M: -0.48%
• YTD: 15.37%
• 6M: 13.53%
• 1Y: 34.02%
• 3Y*: 26.66%
• 5Y*: 16.47%
• 10Y*: 21.45%

*Multi-year figures are annualized to reflect compound growth (CAGR)

GC=F vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GC=F Gold Futures	0.00%	0.00%	0.00%	0.00%	5.84%
QQQ Invesco QQQ ETF	15.37%	20.77%	25.58%	54.86%	-23.75%

Correlation

The correlation between GC=F and QQQ is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 31, 2022	-0.04

Return for Risk

GC=F vs. QQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

QQQ

QQQ Risk / Return Rank: 67
QQQ Sharpe Ratio Rank: 70
QQQ Sortino Ratio Rank: 65
QQQ Omega Ratio Rank: 68
QQQ Calmar Ratio Rank: 64
QQQ Martin Ratio Rank: 66

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GC=F vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gold Futures (GC=F) and Invesco QQQ ETF (QQQ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	GC=F	QQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.04	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.74	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.96	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.40	—

Drawdowns

Drawdown Indicators

	GC=F	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	—	-82.97%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-11.96%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-22.77%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-35.12%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.12%	—
Current Drawdown Current decline from peak	—	-5.14%	—
Average Drawdown Average peak-to-trough decline	—	-32.76%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.15%	—

Volatility

Volatility by Period

	GC=F	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.56%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.25%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	16.76%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	22.49%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	22.36%	—

Frequently Asked Questions

Can I hold both GC=F and QQQ in my portfolio?

GC=F and QQQ have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.