MITT vs QQQ: Correlation
How closely do TPG Mortgage Investment Trust, Inc. (MITT) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.30, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MITT and QQQ?
Across a 3-year window, the weekly returns of MITT and QQQ correlate at 0.30, moderate. Recent behaviour matches the longer record: 0.29 over 1 year against 0.30 over 3. Stretching to 5 years gives 0.38, with an annualized covariance of 169.2 %².
QQQ is close to the least connected end of MITT's tracked universe, ranking #10 of 13. The last year tells two different stories: QQQ led by 26.0 percentage points, +0.3% for MITT against +26.3% for QQQ.
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.
MITT vs QQQ: side by side
| MITT (TPG Mortgage Investment Trust, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +0.3% | +26.3% |
| 5-year return | +11.0% | +95.4% |
| Volatility (ann.) | 28.8% | 19.6% |
| Beta vs S&P 500 | 0.75 | 1.28 |
| Max drawdown (3Y) | -26.9% | -22.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | 8.9 | – |
| Dividend yield | 13.86% | 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 | MITT | QQQ |
|---|---|---|
| 2022 | -41.0% | -32.6% |
| 2023 | +35.8% | +54.9% |
| 2024 | +17.1% | +25.6% |
| 2025 | +42.8% | +20.8% |
| 2026 | -16.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MITT and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MITT and QQQ?
As of 2026-08-27, the correlation of weekly returns between MITT and QQQ is 0.30 over 3 years, 0.29 over 1 year and 0.38 over 5 years.
Is QQQ a good diversifier for MITT?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.30 mean?
On the −1 to +1 scale, 0.30 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/mitt-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mitt-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MITT correlations · QQQ correlations
