MGRC vs QQQ: Correlation
How closely do McGrath RentCorp (MGRC) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.31, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MGRC and QQQ?
Across a 3-year window, the weekly returns of MGRC and QQQ correlate at 0.31, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.14 versus 0.31 over 3 years. Stretching to 5 years gives 0.31, with an annualized covariance of 156.9 %².
Out of 10 assets tracked against MGRC, QQQ lands near the bottom at #7. Correlation aside, the last 12 months split them widely, with QQQ ahead by 33.8 points (-7.5% versus +26.3%).
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.
MGRC vs QQQ: side by side
| MGRC (McGrath RentCorp) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -7.5% | +26.3% |
| 5-year return | +79.8% | +95.4% |
| Volatility (ann.) | 26.1% | 19.6% |
| Beta vs S&P 500 | 0.65 | 1.28 |
| Max drawdown (3Y) | -24.9% | -22.8% |
| Market cap | $2.8B | – |
| P/E (trailing) | 18.4 | – |
| Dividend yield | 1.72% | 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 | MGRC | QQQ |
|---|---|---|
| 2022 | +25.8% | -32.6% |
| 2023 | +23.5% | +54.9% |
| 2024 | -4.9% | +25.6% |
| 2025 | -4.6% | +20.8% |
| 2026 | +9.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MGRC and QQQ good diversifiers for each other?
Reasonably. At 0.31, MGRC and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MGRC and QQQ?
As of 2026-08-27, the correlation of weekly returns between MGRC and QQQ is 0.31 over 3 years, 0.14 over 1 year and 0.31 over 5 years.
Is QQQ a good diversifier for MGRC?
Reasonably. At 0.31, MGRC and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.31 mean?
On the −1 to +1 scale, 0.31 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: MGRC correlations · QQQ correlations
