MGIH vs QQQ: Correlation
Measured on weekly returns over the past three years, Millennium Group International Holdings Limited (MGIH) and Invesco QQQ Trust (QQQ) carry a correlation of 0.03, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MGIH and QQQ?
Over the past 3 years, MGIH and QQQ moved with a correlation of 0.03, which is near zero, meaning they move largely independently. Lately the two have moved closer together, with the 1-year correlation at 0.14 versus 0.03 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 54.8 %².
QQQ is close to the least connected end of MGIH's tracked universe, ranking #9 of 12. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 40.1 percentage points (-13.8% for MGIH against +26.3% for QQQ). Risk is not evenly split, since MGIH carries 5.1 times the volatility of the other side.
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.
MGIH vs QQQ: side by side
| MGIH (Millennium Group International Holdings Limited) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -13.8% | +26.3% |
| 5-year return | n/a | +95.4% |
| Volatility (ann.) | 100.5% | 19.6% |
| Beta vs S&P 500 | 0.32 | 1.28 |
| Max drawdown (3Y) | -60.1% | -22.8% |
| Market cap | – | – |
| 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 | MGIH | QQQ |
|---|---|---|
| 2022 | – | -32.6% |
| 2023 | – | +54.9% |
| 2024 | +21.8% | +25.6% |
| 2025 | -17.9% | +20.8% |
| 2026 | +26.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MGIH and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.03 means the two rarely move for the same reasons.
FAQ
What is the correlation between MGIH and QQQ?
As of 2026-08-27, the correlation of weekly returns between MGIH and QQQ is 0.03 over 3 years, 0.14 over 1 year and n/a over 5 years.
Is QQQ a good diversifier for MGIH?
By historical standards, yes. A correlation of 0.03 means the two rarely move for the same reasons.
What does a correlation of 0.03 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.
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Related comparisons
Hubs: MGIH correlations · QQQ correlations
