MANH vs QQQ: Correlation
Measured on weekly returns over the past three years, Manhattan Associates, Inc. (MANH) and Invesco QQQ Trust (QQQ) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MANH and QQQ?
Over the past 3 years, MANH and QQQ moved with a correlation of 0.39, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.18 versus 0.39 over 3 years. Over 5 years the correlation is 0.52, and the annualized covariance of weekly returns is 319.7 %².
QQQ is close to the least connected end of MANH's tracked universe, ranking #9 of 13. The last year tells two different stories: QQQ led by 24.1 percentage points, +2.2% for MANH against +26.3% for QQQ. One caveat on sizing: MANH is 2.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
MANH vs QQQ: side by side
| MANH (Manhattan Associates, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +2.2% | +26.3% |
| 5-year return | +35.7% | +95.4% |
| Volatility (ann.) | 41.7% | 19.6% |
| Beta vs S&P 500 | 1.25 | 1.28 |
| Max drawdown (3Y) | -61.0% | -22.8% |
| Market cap | $13.0B | – |
| P/E (trailing) | 63.9 | – |
| 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 | MANH | QQQ |
|---|---|---|
| 2022 | -21.9% | -32.6% |
| 2023 | +77.4% | +54.9% |
| 2024 | +25.5% | +25.6% |
| 2025 | -35.9% | +20.8% |
| 2026 | +29.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MANH and QQQ good diversifiers for each other?
Reasonably. At 0.39, MANH and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MANH and QQQ?
As of 2026-08-27, the correlation of weekly returns between MANH and QQQ is 0.39 over 3 years, 0.18 over 1 year and 0.52 over 5 years.
Is QQQ a good diversifier for MANH?
Reasonably. At 0.39, MANH and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.39 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/manh-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/manh-vs-qqq/)
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Related comparisons
Hubs: MANH correlations · QQQ correlations
