MFG vs QQQ: Correlation
Measured on weekly returns over the past three years, Mizuho Financial Group, Inc. Sponosred ADR (Japan) (MFG) and Invesco QQQ Trust (QQQ) carry a correlation of 0.34, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MFG and QQQ?
On 3 years of weekly data the MFG/QQQ correlation comes out at 0.34, moderate. The relationship has been stable: the 1-year correlation (0.32) sits close to the 3-year figure. The 5-year figure is 0.30, and annualized covariance runs at 228.6 %².
Among the 10 assets we track against MFG, QQQ sits near the bottom by co-movement, at rank #7. Correlation aside, the last 12 months split them widely, with MFG ahead by 32.8 points (+59.1% versus +26.3%). One caveat on sizing: MFG is 1.7 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.
MFG vs QQQ: side by side
| MFG (Mizuho Financial Group, Inc. Sponosred ADR (Japan)) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +59.1% | +26.3% |
| 5-year return | +297.9% | +95.4% |
| Volatility (ann.) | 33.9% | 19.6% |
| Beta vs S&P 500 | 1.03 | 1.28 |
| Max drawdown (3Y) | -28.3% | -22.8% |
| Market cap | $126.8B | – |
| P/E (trailing) | 14.9 | – |
| Dividend yield | 1387.56% | 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 | MFG | QQQ |
|---|---|---|
| 2022 | +11.4% | -32.6% |
| 2023 | +21.1% | +54.9% |
| 2024 | +47.9% | +25.6% |
| 2025 | +52.5% | +20.8% |
| 2026 | +42.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MFG and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MFG and QQQ?
The MFG/QQQ correlation stands at 0.34 on a 3-year window (1 year: 0.32, 5 years: 0.30), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for MFG?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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.
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Related comparisons
Hubs: MFG correlations · QQQ correlations
