MD vs QQQ: Correlation
How closely do Pediatrix Medical Group, Inc. (MD) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.04, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MD and QQQ?
Across a 3-year window, the weekly returns of MD and QQQ correlate at 0.04, near zero, meaning they move largely independently. Little has changed lately, as the 1-year reading of -0.02 lands near the 3-year figure. Stretching to 5 years gives 0.21, with an annualized covariance of 40.1 %².
Among the 11 assets we track against MD, QQQ sits near the bottom by co-movement, at rank #7. Correlation aside, the last 12 months split them widely, with MD ahead by 29.7 points (+56.0% versus +26.3%). Risk is not evenly split, since MD 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.
MD vs QQQ: side by side
| MD (Pediatrix Medical Group, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +56.0% | +26.3% |
| 5-year return | -23.8% | +95.4% |
| Volatility (ann.) | 46.2% | 19.6% |
| Beta vs S&P 500 | 0.33 | 1.28 |
| Max drawdown (3Y) | -52.8% | -22.8% |
| Market cap | $2.2B | – |
| P/E (trailing) | 12.9 | – |
| Dividend yield | 0.00% | 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 | MD | QQQ |
|---|---|---|
| 2022 | -45.4% | -32.6% |
| 2023 | -37.4% | +54.9% |
| 2024 | +41.1% | +25.6% |
| 2025 | +63.0% | +20.8% |
| 2026 | +25.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MD and QQQ good diversifiers for each other?
Yes. With a correlation of 0.04, MD and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MD and QQQ?
Using weekly returns as of 2026-08-27: 0.04 over 3 years, with -0.02 over the last year and 0.21 over 5 years.
Is QQQ a good diversifier for MD?
Yes. With a correlation of 0.04, MD and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.04 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
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Related comparisons
Hubs: MD correlations · QQQ correlations
