MFC vs QQQ: Correlation
Manulife Financial Corporation (MFC) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MFC and QQQ?
On 3 years of weekly data the MFC/QQQ correlation comes out at 0.47, moderate. The link has loosened recently: the 1-year correlation (0.34) runs below the 3-year figure (0.47). The 5-year figure is 0.49, and annualized covariance runs at 193.3 %².
QQQ is close to the least connected end of MFC's tracked universe, ranking #9 of 12. Correlation aside, the last 12 months split them widely, with MFC ahead by 20.0 points (+46.3% versus +26.3%).
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.
MFC vs QQQ: side by side
| MFC (Manulife Financial Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +46.3% | +26.3% |
| 5-year return | +174.6% | +95.4% |
| Volatility (ann.) | 21.2% | 19.6% |
| Beta vs S&P 500 | 0.87 | 1.28 |
| Max drawdown (3Y) | -16.8% | -22.8% |
| Market cap | $71.7B | – |
| P/E (trailing) | 16.2 | – |
| Dividend yield | 4.28% | 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 | MFC | QQQ |
|---|---|---|
| 2022 | -1.2% | -32.6% |
| 2023 | +31.1% | +54.9% |
| 2024 | +45.2% | +25.6% |
| 2025 | +20.6% | +20.8% |
| 2026 | +22.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MFC and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MFC and QQQ?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.34 over the last year and 0.49 over 5 years.
Is QQQ a good diversifier for MFC?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 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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Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mfc-vs-qqq/)
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Related comparisons
Hubs: MFC correlations · QQQ correlations
