MATH vs QQQ: Correlation
Metalpha Technology Holding Limited (MATH) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.13.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MATH and QQQ?
On 3 years of weekly data the MATH/QQQ correlation comes out at 0.13, weak. The past 12 months show a tighter link (0.24) than the 3-year average (0.13). The 5-year figure is 0.17, and annualized covariance runs at 222.4 %².
By 3-year correlation, QQQ places #7 of the 14 assets tracked against MATH. Correlation aside, the last 12 months split them widely, with QQQ ahead by 97.0 points (-70.7% versus +26.3%). Risk is not evenly split, since MATH carries 4.6 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.
MATH vs QQQ: side by side
| MATH (Metalpha Technology Holding Limited) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -70.7% | +26.3% |
| 5-year return | -40.4% | +95.4% |
| Volatility (ann.) | 90.1% | 19.6% |
| Beta vs S&P 500 | 0.53 | 1.28 |
| Max drawdown (3Y) | -81.9% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 41.7 | – |
| 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 | MATH | QQQ |
|---|---|---|
| 2022 | -57.4% | -32.6% |
| 2023 | +323.3% | +54.9% |
| 2024 | -47.2% | +25.6% |
| 2025 | +82.6% | +20.8% |
| 2026 | -60.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MATH and QQQ good diversifiers for each other?
Yes. With a correlation of 0.13, MATH and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MATH and QQQ?
Using weekly returns as of 2026-08-27: 0.13 over 3 years, with 0.24 over the last year and 0.17 over 5 years.
Is QQQ a good diversifier for MATH?
Yes. With a correlation of 0.13, MATH and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.13 mean?
A reading of 0.13 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/math-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/math-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MATH correlations · QQQ correlations
