MCHP vs QQQ: Correlation
How closely do Microchip Technology (MCHP) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MCHP and QQQ?
Over the past 3 years, MCHP and QQQ moved with a correlation of 0.62, which is strong. Recent behaviour matches the longer record: 0.65 over 1 year against 0.62 over 3. Over 5 years the correlation is 0.65, and the annualized covariance of weekly returns is 566.3 %².
By 3-year correlation, QQQ places #19 of the 44 assets tracked against MCHP. The trailing year gives QQQ the advantage: +16.2% versus +26.3%, a 10.1-point spread. On a rolling one-year basis the correlation drifted between 0.48 and 0.75, a moderate band. Risk is not evenly split, since MCHP carries 2.4 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.
MCHP vs QQQ: side by side
| MCHP (Microchip Technology) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +16.2% | +26.3% |
| 5-year return | +5.9% | +95.4% |
| Volatility (ann.) | 46.7% | 19.6% |
| Beta vs S&P 500 | 1.97 | 1.28 |
| Max drawdown (3Y) | -63.8% | -22.8% |
| Market cap | $41.0B | – |
| P/E (trailing) | 109.4 | – |
| Dividend yield | 2.46% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Information Technology | 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 | MCHP | QQQ |
|---|---|---|
| 2022 | -18.0% | -32.6% |
| 2023 | +30.9% | +54.9% |
| 2024 | -35.0% | +25.6% |
| 2025 | +14.6% | +20.8% |
| 2026 | +20.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that QQQ holds MCHP at a 0.18% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are MCHP and QQQ good diversifiers for each other?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MCHP and QQQ?
The MCHP/QQQ correlation stands at 0.62 on a 3-year window (1 year: 0.65, 5 years: 0.65), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for MCHP?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.62 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/mchp-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mchp-vs-qqq/)
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Related comparisons
Hubs: MCHP correlations · QQQ correlations
