MATW vs QQQ: Correlation
Matthews International Corporation (MATW) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MATW and QQQ?
Over the past 3 years, MATW and QQQ moved with a correlation of 0.27, which is weak. The link has loosened recently: the 1-year correlation (0.09) runs below the 3-year figure (0.27). Over 5 years the correlation is 0.31, and the annualized covariance of weekly returns is 188.7 %².
Out of 12 assets tracked against MATW, QQQ lands near the bottom at #9. The last year tells two different stories: QQQ led by 34.9 percentage points, -8.6% for MATW against +26.3% for QQQ. Note the risk asymmetry: MATW runs 1.9 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.
MATW vs QQQ: side by side
| MATW (Matthews International Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -8.6% | +26.3% |
| 5-year return | -30.2% | +95.4% |
| Volatility (ann.) | 36.3% | 19.6% |
| Beta vs S&P 500 | 0.87 | 1.28 |
| Max drawdown (3Y) | -54.7% | -22.8% |
| Market cap | $0.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 4.73% | 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 | MATW | QQQ |
|---|---|---|
| 2022 | -14.5% | -32.6% |
| 2023 | +23.4% | +54.9% |
| 2024 | -21.9% | +25.6% |
| 2025 | -1.5% | +20.8% |
| 2026 | -17.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MATW and QQQ good diversifiers for each other?
Reasonably. At 0.27, MATW and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MATW and QQQ?
The MATW/QQQ correlation stands at 0.27 on a 3-year window (1 year: 0.09, 5 years: 0.31), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for MATW?
Reasonably. At 0.27, MATW and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.27 mean?
A reading of 0.27 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/matw-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/matw-vs-qqq/)
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Related comparisons
Hubs: MATW correlations · QQQ correlations
