MGNI vs QQQ: Correlation
How closely do Magnite, Inc. (MGNI) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MGNI and QQQ?
Over the past 3 years, MGNI and QQQ moved with a correlation of 0.44, which is moderate. Little has changed lately, as the 1-year reading of 0.46 lands near the 3-year figure. Over 5 years the correlation is 0.51, and the annualized covariance of weekly returns is 546.3 %².
Within MGNI's tracked universe of 19 assets, QQQ comes in at #11 by 3-year correlation. The last year tells two different stories: QQQ led by 34.9 percentage points, -8.6% for MGNI against +26.3% for QQQ. Risk is not evenly split, since MGNI carries 3.2 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.
MGNI vs QQQ: side by side
| MGNI (Magnite, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -8.6% | +26.3% |
| 5-year return | -17.8% | +95.4% |
| Volatility (ann.) | 63.6% | 19.6% |
| Beta vs S&P 500 | 1.94 | 1.28 |
| Max drawdown (3Y) | -57.8% | -22.8% |
| Market cap | $3.4B | – |
| P/E (trailing) | 21.2 | – |
| 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 | MGNI | QQQ |
|---|---|---|
| 2022 | -39.5% | -32.6% |
| 2023 | -11.8% | +54.9% |
| 2024 | +70.4% | +25.6% |
| 2025 | +1.9% | +20.8% |
| 2026 | +43.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MGNI and QQQ good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MGNI and QQQ?
As of 2026-08-27, the correlation of weekly returns between MGNI and QQQ is 0.44 over 3 years, 0.46 over 1 year and 0.51 over 5 years.
Is QQQ a good diversifier for MGNI?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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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Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: MGNI correlations · QQQ correlations
