MATX vs QQQ: Correlation
Measured on weekly returns over the past three years, Matson, Inc. (MATX) and Invesco QQQ Trust (QQQ) carry a correlation of 0.28, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MATX and QQQ?
On 3 years of weekly data the MATX/QQQ correlation comes out at 0.28, weak. Lately the two have drifted apart, with the 1-year correlation at 0.11 versus 0.28 over 3 years. The 5-year figure is 0.34, and annualized covariance runs at 187.0 %².
Among the 13 assets we track against MATX, QQQ sits near the bottom by co-movement, at rank #10. Correlation aside, the last 12 months split them widely, with MATX ahead by 86.5 points (+112.8% versus +26.3%). Note the risk asymmetry: MATX runs 1.8 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.
MATX vs QQQ: side by side
| MATX (Matson, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +112.8% | +26.3% |
| 5-year return | +195.6% | +95.4% |
| Volatility (ann.) | 34.6% | 19.6% |
| Beta vs S&P 500 | 0.80 | 1.28 |
| Max drawdown (3Y) | -46.9% | -22.8% |
| Market cap | $6.6B | – |
| P/E (trailing) | 14.9 | – |
| Dividend yield | 0.65% | 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 | MATX | QQQ |
|---|---|---|
| 2022 | -29.5% | -32.6% |
| 2023 | +78.2% | +54.9% |
| 2024 | +24.3% | +25.6% |
| 2025 | -7.2% | +20.8% |
| 2026 | +80.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MATX and QQQ good diversifiers for each other?
Reasonably. At 0.28, MATX and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MATX and QQQ?
As of 2026-08-27, the correlation of weekly returns between MATX and QQQ is 0.28 over 3 years, 0.11 over 1 year and 0.34 over 5 years.
Is QQQ a good diversifier for MATX?
Reasonably. At 0.28, MATX and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.28 mean?
A reading of 0.28 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: MATX correlations · QQQ correlations
