MKTX vs QQQ: Correlation
MarketAxess Holdings, Inc. (MKTX) and Invesco QQQ Trust (QQQ) show a near-zero relationship: their 3-year correlation of weekly returns is 0.04.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MKTX and QQQ?
Across a 3-year window, the weekly returns of MKTX and QQQ correlate at 0.04, near zero, meaning they move largely independently. Recent behaviour matches the longer record: 0.03 over 1 year against 0.04 over 3. Stretching to 5 years gives 0.25, with an annualized covariance of 28.6 %².
Out of 14 assets tracked against MKTX, QQQ lands near the bottom at #10. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 38.0 percentage points (-11.7% for MKTX against +26.3% for QQQ). Risk is not evenly split, since MKTX carries 1.9 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.
MKTX vs QQQ: side by side
| MKTX (MarketAxess Holdings, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -11.7% | +26.3% |
| 5-year return | -63.7% | +95.4% |
| Volatility (ann.) | 37.8% | 19.6% |
| Beta vs S&P 500 | 0.21 | 1.28 |
| Max drawdown (3Y) | -61.8% | -22.8% |
| Market cap | $5.7B | – |
| P/E (trailing) | 19.2 | – |
| Dividend yield | 1.90% | 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 | MKTX | QQQ |
|---|---|---|
| 2022 | -31.5% | -32.6% |
| 2023 | +6.1% | +54.9% |
| 2024 | -21.8% | +25.6% |
| 2025 | -18.5% | +20.8% |
| 2026 | -9.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MKTX and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.04 means the two rarely move for the same reasons.
FAQ
What is the correlation between MKTX and QQQ?
The MKTX/QQQ correlation stands at 0.04 on a 3-year window (1 year: 0.03, 5 years: 0.25), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for MKTX?
By historical standards, yes. A correlation of 0.04 means the two rarely move for the same reasons.
What does a correlation of 0.04 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mktx-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mktx-vs-qqq/)
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Related comparisons
Hubs: MKTX correlations · QQQ correlations
