MGTX vs QQQ: Correlation
Measured on weekly returns over the past three years, MeiraGTx Holdings plc (MGTX) 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 MGTX and QQQ?
On 3 years of weekly data the MGTX/QQQ correlation comes out at 0.32, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.49 versus 0.32 over 3 years. The 5-year figure is 0.31, and annualized covariance runs at 487.3 %².
Among the 20 assets we track against MGTX, QQQ sits near the bottom by co-movement, at rank #17. Correlation aside, the last 12 months split them widely, with MGTX ahead by 63.8 points (+90.1% versus +26.3%). Note the risk asymmetry: MGTX runs 3.9 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.
MGTX vs QQQ: side by side
| MGTX (MeiraGTx Holdings plc) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +90.1% | +26.3% |
| 5-year return | +2.2% | +95.4% |
| Volatility (ann.) | 77.0% | 19.6% |
| Beta vs S&P 500 | 2.02 | 1.28 |
| Max drawdown (3Y) | -47.1% | -22.8% |
| Market cap | $1.4B | – |
| P/E (trailing) | 16.8 | – |
| 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 | MGTX | QQQ |
|---|---|---|
| 2022 | -72.5% | -32.6% |
| 2023 | +7.7% | +54.9% |
| 2024 | -13.2% | +25.6% |
| 2025 | +30.5% | +20.8% |
| 2026 | +77.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MGTX and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MGTX and QQQ?
As of 2026-08-27, the correlation of weekly returns between MGTX and QQQ is 0.32 over 3 years, 0.49 over 1 year and 0.31 over 5 years.
Is QQQ a good diversifier for MGTX?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.32 mean?
A reading of 0.32 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: MGTX correlations · QQQ correlations
