MDU vs QQQ: Correlation
How closely do MDU Resources Group, Inc. (MDU) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.21, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDU and QQQ?
Across a 3-year window, the weekly returns of MDU and QQQ correlate at 0.21, weak. Lately the two have drifted apart, with the 1-year correlation at -0.08 versus 0.21 over 3 years. Stretching to 5 years gives 0.29, with an annualized covariance of 101.3 %².
Among the 11 assets we track against MDU, QQQ sits near the bottom by co-movement, at rank #8. Twelve-month performance is nearly a tie, at +26.3% for MDU and +26.3% for QQQ.
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.
MDU vs QQQ: side by side
| MDU (MDU Resources Group, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +26.3% | +26.3% |
| 5-year return | +90.7% | +95.4% |
| Volatility (ann.) | 25.2% | 19.6% |
| Beta vs S&P 500 | 0.55 | 1.28 |
| Max drawdown (3Y) | -21.5% | -22.8% |
| Market cap | $4.2B | – |
| P/E (trailing) | 21.7 | – |
| Dividend yield | 2.76% | 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 | MDU | QQQ |
|---|---|---|
| 2022 | +1.5% | -32.6% |
| 2023 | -1.9% | +54.9% |
| 2024 | +68.0% | +25.6% |
| 2025 | +11.8% | +20.8% |
| 2026 | +4.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDU and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.21 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MDU and QQQ?
Using weekly returns as of 2026-08-27: 0.21 over 3 years, with -0.08 over the last year and 0.29 over 5 years.
Is QQQ a good diversifier for MDU?
Yes, to a useful degree: a correlation of 0.21 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.21 mean?
A reading of 0.21 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: MDU correlations · QQQ correlations
