MDXH vs QQQ: Correlation
How closely do MDxHealth SA (MDXH) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.33, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDXH and QQQ?
Over the past 3 years, MDXH and QQQ moved with a correlation of 0.33, which is moderate. Little has changed lately, as the 1-year reading of 0.35 lands near the 3-year figure. Over 5 years the correlation is 0.16, and the annualized covariance of weekly returns is 550.7 %².
Out of 14 assets tracked against MDXH, QQQ lands near the bottom at #10. The last year tells two different stories: QQQ led by 106.2 percentage points, -79.9% for MDXH against +26.3% for QQQ. Note the risk asymmetry: MDXH runs 4.4 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
MDXH vs QQQ: side by side
| MDXH (MDxHealth SA) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -79.9% | +26.3% |
| 5-year return | -94.0% | +95.4% |
| Volatility (ann.) | 86.5% | 19.6% |
| Beta vs S&P 500 | 1.97 | 1.28 |
| Max drawdown (3Y) | -92.0% | -22.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| 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 | MDXH | QQQ |
|---|---|---|
| 2022 | -30.6% | -32.6% |
| 2023 | -40.4% | +54.9% |
| 2024 | -39.8% | +25.6% |
| 2025 | +50.6% | +20.8% |
| 2026 | -79.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDXH and QQQ good diversifiers for each other?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MDXH and QQQ?
The MDXH/QQQ correlation stands at 0.33 on a 3-year window (1 year: 0.35, 5 years: 0.16), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for MDXH?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.33 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/mdxh-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mdxh-vs-qqq/)
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Related comparisons
Hubs: MDXH correlations · QQQ correlations
