MAGN vs QQQ: Correlation
Measured on weekly returns over the past three years, Magnera Corporation (MAGN) and Invesco QQQ Trust (QQQ) carry a correlation of 0.24, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MAGN and QQQ?
Across a 3-year window, the weekly returns of MAGN and QQQ correlate at 0.24, weak. The relationship has been stable: the 1-year correlation (0.25) sits close to the 3-year figure. Stretching to 5 years gives 0.30, with an annualized covariance of 339.6 %².
Out of 11 assets tracked against MAGN, QQQ lands near the bottom at #8. Correlation aside, the last 12 months split them widely, with QQQ ahead by 27.3 points (-1.0% versus +26.3%). Note the risk asymmetry: MAGN runs 3.6 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.
MAGN vs QQQ: side by side
| MAGN (Magnera Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -1.0% | +26.3% |
| 5-year return | -93.7% | +95.4% |
| Volatility (ann.) | 71.5% | 19.6% |
| Beta vs S&P 500 | 1.31 | 1.28 |
| Max drawdown (3Y) | -76.8% | -22.8% |
| Market cap | $0.4B | – |
| 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 | MAGN | QQQ |
|---|---|---|
| 2022 | -83.3% | -32.6% |
| 2023 | -30.2% | +54.9% |
| 2024 | -28.0% | +25.6% |
| 2025 | -16.7% | +20.8% |
| 2026 | -18.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MAGN and QQQ good diversifiers for each other?
A fair diversifier. At 0.24, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MAGN and QQQ?
As of 2026-08-27, the correlation of weekly returns between MAGN and QQQ is 0.24 over 3 years, 0.25 over 1 year and 0.30 over 5 years.
Is QQQ a good diversifier for MAGN?
A fair diversifier. At 0.24, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.24 mean?
A reading of 0.24 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/magn-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/magn-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MAGN correlations · QQQ correlations
