MCK vs QQQ: Correlation
McKesson Corporation (MCK) and Invesco QQQ Trust (QQQ) show a near-zero relationship: their 3-year correlation of weekly returns is -0.03.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MCK and QQQ?
Across a 3-year window, the weekly returns of MCK and QQQ correlate at -0.03, near zero, meaning they move largely independently. The past 12 months show a weaker link (-0.28) than the 3-year average (-0.03). Stretching to 5 years gives 0.09, with an annualized covariance of -14.8 %².
By 3-year correlation, QQQ places #21 of the 35 assets tracked against MCK. Their 12-month results are close: +30.8% for MCK against +26.3% for QQQ. The relationship is regime-dependent: the rolling one-year correlation swung between -0.31 and 0.29 over the past three years, so this pair behaves very differently depending on the market environment.
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.
MCK vs QQQ: side by side
| MCK (McKesson Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +30.8% | +26.3% |
| 5-year return | +354.8% | +95.4% |
| Volatility (ann.) | 25.1% | 19.6% |
| Beta vs S&P 500 | 0.16 | 1.28 |
| Max drawdown (3Y) | -27.2% | -22.8% |
| Market cap | $103.8B | – |
| P/E (trailing) | 24.0 | – |
| Dividend yield | 0.37% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Health Care | 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 | MCK | QQQ |
|---|---|---|
| 2022 | +51.8% | -32.6% |
| 2023 | +24.1% | +54.9% |
| 2024 | +23.7% | +25.6% |
| 2025 | +44.5% | +20.8% |
| 2026 | +8.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MCK and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of -0.03 means the two rarely move for the same reasons.
FAQ
What is the correlation between MCK and QQQ?
The MCK/QQQ correlation stands at -0.03 on a 3-year window (1 year: -0.28, 5 years: 0.09), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for MCK?
By historical standards, yes. A correlation of -0.03 means the two rarely move for the same reasons.
What does a correlation of -0.03 mean?
A reading of -0.03 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
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Related comparisons
Hubs: MCK correlations · QQQ correlations
