MBWM vs QQQ: Correlation
Measured on weekly returns over the past three years, Mercantile Bank Corporation (MBWM) and Invesco QQQ Trust (QQQ) carry a correlation of 0.24, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MBWM and QQQ?
On 3 years of weekly data the MBWM/QQQ correlation comes out at 0.24, weak. The past 12 months show a weaker link (-0.03) than the 3-year average (0.24). The 5-year figure is 0.23, and annualized covariance runs at 142.5 %².
QQQ is close to the least connected end of MBWM's tracked universe, ranking #23 of 26. Neither side won the trailing year by much: +23.7% against +26.3%. Risk is not evenly split, since MBWM carries 1.5 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.
MBWM vs QQQ: side by side
| MBWM (Mercantile Bank Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +23.7% | +26.3% |
| 5-year return | +126.2% | +95.4% |
| Volatility (ann.) | 29.8% | 19.6% |
| Beta vs S&P 500 | 0.82 | 1.28 |
| Max drawdown (3Y) | -25.0% | -22.8% |
| Market cap | $1.0B | – |
| P/E (trailing) | 10.5 | – |
| Dividend yield | 2.57% | 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 | MBWM | QQQ |
|---|---|---|
| 2022 | -0.8% | -32.6% |
| 2023 | +25.8% | +54.9% |
| 2024 | +14.0% | +25.6% |
| 2025 | +11.7% | +20.8% |
| 2026 | +26.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MBWM and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.24 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MBWM and QQQ?
As of 2026-08-27, the correlation of weekly returns between MBWM and QQQ is 0.24 over 3 years, -0.03 over 1 year and 0.23 over 5 years.
Is QQQ a good diversifier for MBWM?
Yes, to a useful degree: a correlation of 0.24 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.24 mean?
On the −1 to +1 scale, 0.24 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
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Related comparisons
Hubs: MBWM correlations · QQQ correlations
