MGA vs QQQ: Correlation
Measured on weekly returns over the past three years, Magna International, Inc. (MGA) and Invesco QQQ Trust (QQQ) carry a correlation of 0.32, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MGA and QQQ?
Across a 3-year window, the weekly returns of MGA and QQQ correlate at 0.32, moderate. The past 12 months show a weaker link (0.07) than the 3-year average (0.32). Stretching to 5 years gives 0.46, with an annualized covariance of 199.3 %².
Among the 18 assets we track against MGA, QQQ sits near the bottom by co-movement, at rank #15. Correlation aside, the last 12 months split them widely, with MGA ahead by 18.9 points (+45.2% versus +26.3%). Note the risk asymmetry: MGA runs 1.6 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.
MGA vs QQQ: side by side
| MGA (Magna International, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +45.2% | +26.3% |
| 5-year return | -1.8% | +95.4% |
| Volatility (ann.) | 31.5% | 19.6% |
| Beta vs S&P 500 | 0.87 | 1.28 |
| Max drawdown (3Y) | -45.6% | -22.8% |
| Market cap | $17.6B | – |
| P/E (trailing) | 24.2 | – |
| Dividend yield | 2.98% | 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 | MGA | QQQ |
|---|---|---|
| 2022 | -28.6% | -32.6% |
| 2023 | +8.8% | +54.9% |
| 2024 | -26.3% | +25.6% |
| 2025 | +32.4% | +20.8% |
| 2026 | +26.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MGA and QQQ good diversifiers for each other?
A fair diversifier. At 0.32, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MGA and QQQ?
The MGA/QQQ correlation stands at 0.32 on a 3-year window (1 year: 0.07, 5 years: 0.46), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for MGA?
A fair diversifier. At 0.32, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.32 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/mga-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mga-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MGA correlations · QQQ correlations
