MGM vs QQQ: Correlation
How closely do MGM Resorts (MGM) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MGM and QQQ?
Across a 3-year window, the weekly returns of MGM and QQQ correlate at 0.41, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.07 versus 0.41 over 3 years. Stretching to 5 years gives 0.51, with an annualized covariance of 280.5 %².
Among the 41 assets we track against MGM, QQQ ranks #27 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 18.3 percentage points (+8.0% for MGM against +26.3% for QQQ). This link changes with the market regime, having swung between 0.03 and 0.68 on a rolling one-year basis. One caveat on sizing: MGM 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.
MGM vs QQQ: side by side
| MGM (MGM Resorts) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +8.0% | +26.3% |
| 5-year return | +0.8% | +95.4% |
| Volatility (ann.) | 35.2% | 19.6% |
| Beta vs S&P 500 | 1.18 | 1.28 |
| Max drawdown (3Y) | -46.0% | -22.8% |
| Market cap | $11.0B | – |
| P/E (trailing) | 26.4 | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Consumer Discretionary | 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 | MGM | QQQ |
|---|---|---|
| 2022 | -25.3% | -32.6% |
| 2023 | +33.3% | +54.9% |
| 2024 | -22.4% | +25.6% |
| 2025 | +5.3% | +20.8% |
| 2026 | +17.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MGM and QQQ good diversifiers for each other?
Reasonably. At 0.41, MGM and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MGM and QQQ?
As of 2026-08-27, the correlation of weekly returns between MGM and QQQ is 0.41 over 3 years, 0.07 over 1 year and 0.51 over 5 years.
Is QQQ a good diversifier for MGM?
Reasonably. At 0.41, MGM and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 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
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Related comparisons
Hubs: MGM correlations · QQQ correlations
