MDT vs QQQ: Correlation
Medtronic (MDT) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.10.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDT and QQQ?
Over the past 3 years, MDT and QQQ moved with a correlation of 0.10, which is weak. The past 12 months show a weaker link (-0.24) than the 3-year average (0.10). Over 5 years the correlation is 0.28, and the annualized covariance of weekly returns is 41.5 %².
By 3-year correlation, QQQ places #24 of the 34 assets tracked against MDT. Correlation aside, the last 12 months split them widely, with QQQ ahead by 25.4 points (+0.9% versus +26.3%). The relationship is regime-dependent: the rolling one-year correlation swung between -0.24 and 0.44 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.
MDT vs QQQ: side by side
| MDT (Medtronic) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +0.9% | +26.3% |
| 5-year return | -21.4% | +95.4% |
| Volatility (ann.) | 21.0% | 19.6% |
| Beta vs S&P 500 | 0.37 | 1.28 |
| Max drawdown (3Y) | -28.9% | -22.8% |
| Market cap | $115.2B | – |
| P/E (trailing) | 24.1 | – |
| Dividend yield | 3.09% | 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 | MDT | QQQ |
|---|---|---|
| 2022 | -22.6% | -32.6% |
| 2023 | +9.6% | +54.9% |
| 2024 | +0.3% | +25.6% |
| 2025 | +24.0% | +20.8% |
| 2026 | -4.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDT and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.10 means the two rarely move for the same reasons.
FAQ
What is the correlation between MDT and QQQ?
Using weekly returns as of 2026-08-27: 0.10 over 3 years, with -0.24 over the last year and 0.28 over 5 years.
Is QQQ a good diversifier for MDT?
By historical standards, yes. A correlation of 0.10 means the two rarely move for the same reasons.
What does a correlation of 0.10 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/mdt-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mdt-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MDT correlations · QQQ correlations
