MI vs QQQ: Correlation
NFT Limited Class A (MI) and Invesco QQQ Trust (QQQ) show a near-zero relationship: their 3-year correlation of weekly returns is 0.03.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MI and QQQ?
On 3 years of weekly data the MI/QQQ correlation comes out at 0.03, near zero, meaning they move largely independently. Little has changed lately, as the 1-year reading of 0.04 lands near the 3-year figure. The 5-year figure is 0.03, and annualized covariance runs at 2495.8 %².
Within MI's tracked universe of 32 assets, QQQ comes in at #17 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 36.6 points (-10.3% versus +26.3%). One caveat on sizing: MI is 226.7 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.
MI vs QQQ: side by side
| MI (NFT Limited Class A) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -10.3% | +26.3% |
| 5-year return | -99.5% | +95.4% |
| Volatility (ann.) | 4443.9% | 19.6% |
| Beta vs S&P 500 | 8.21 | 1.28 |
| Max drawdown (3Y) | -98.5% | -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 | MI | QQQ |
|---|---|---|
| 2022 | -86.4% | -32.6% |
| 2023 | -66.2% | +54.9% |
| 2024 | -61.9% | +25.6% |
| 2025 | +13.3% | +20.8% |
| 2026 | -28.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MI and QQQ good diversifiers for each other?
Yes: at 0.03, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MI and QQQ?
The MI/QQQ correlation stands at 0.03 on a 3-year window (1 year: 0.04, 5 years: 0.03), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for MI?
Yes: at 0.03, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.03 mean?
On the −1 to +1 scale, 0.03 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
$ curl https://www.pairbook.io/api/v1/pairs/mi-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mi-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MI correlations · QQQ correlations
