MAKO vs QQQ: Correlation
How closely do Mako Mining Corp (MAKO) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.34, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MAKO and QQQ?
On 3 years of weekly data the MAKO/QQQ correlation comes out at 0.34, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.56 versus 0.34 over 3 years. The 5-year figure is 0.30, and annualized covariance runs at 378.3 %².
Out of 10 assets tracked against MAKO, QQQ lands near the bottom at #6. The last year tells two different stories: MAKO led by 121.3 percentage points, +147.6% for MAKO against +26.3% for QQQ. Note the risk asymmetry: MAKO runs 2.9 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.
MAKO vs QQQ: side by side
| MAKO (Mako Mining Corp) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +147.6% | +26.3% |
| 5-year return | +320.0% | +95.4% |
| Volatility (ann.) | 57.6% | 19.6% |
| Beta vs S&P 500 | 1.23 | 1.28 |
| Max drawdown (3Y) | -31.9% | -22.8% |
| Market cap | $1.0B | – |
| P/E (trailing) | 18.5 | – |
| 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 | MAKO | QQQ |
|---|---|---|
| 2022 | -67.7% | -32.6% |
| 2023 | +105.0% | +54.9% |
| 2024 | +7.8% | +25.6% |
| 2025 | +162.4% | +20.8% |
| 2026 | +88.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MAKO and QQQ good diversifiers for each other?
Reasonably. At 0.34, MAKO and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MAKO and QQQ?
The MAKO/QQQ correlation stands at 0.34 on a 3-year window (1 year: 0.56, 5 years: 0.30), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for MAKO?
Reasonably. At 0.34, MAKO and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.34 mean?
A reading of 0.34 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/mako-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mako-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MAKO correlations · QQQ correlations
