MELI vs QQQ: Correlation
Measured on weekly returns over the past three years, MercadoLibre, Inc. (MELI) and Invesco QQQ Trust (QQQ) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MELI and QQQ?
Across a 3-year window, the weekly returns of MELI and QQQ correlate at 0.38, moderate. The relationship has been stable: the 1-year correlation (0.30) sits close to the 3-year figure. Stretching to 5 years gives 0.51, with an annualized covariance of 267.4 %².
Among the 12 assets we track against MELI, QQQ sits near the bottom by co-movement, at rank #8. Correlation aside, the last 12 months split them widely, with QQQ ahead by 46.3 points (-20.0% versus +26.3%). One caveat on sizing: MELI is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
MELI vs QQQ: side by side
| MELI (MercadoLibre, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -20.0% | +26.3% |
| 5-year return | +2.8% | +95.4% |
| Volatility (ann.) | 35.7% | 19.6% |
| Beta vs S&P 500 | 1.04 | 1.28 |
| Max drawdown (3Y) | -40.8% | -22.8% |
| Market cap | $97.9B | – |
| P/E (trailing) | 53.2 | – |
| 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 | MELI | QQQ |
|---|---|---|
| 2022 | -37.2% | -32.6% |
| 2023 | +85.7% | +54.9% |
| 2024 | +8.2% | +25.6% |
| 2025 | +18.5% | +20.8% |
| 2026 | -4.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.44% of QQQ is MELI itself, so the fund partly moves with the stock by construction.
Are MELI and QQQ good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MELI and QQQ?
As of 2026-08-27, the correlation of weekly returns between MELI and QQQ is 0.38 over 3 years, 0.30 over 1 year and 0.51 over 5 years.
Is QQQ a good diversifier for MELI?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/meli-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/meli-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MELI correlations · QQQ correlations
