MLR vs QQQ: Correlation
How closely do Miller Industries, Inc. (MLR) 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 MLR and QQQ?
On 3 years of weekly data the MLR/QQQ correlation comes out at 0.31, moderate. The past 12 months show a weaker link (0.04) than the 3-year average (0.31). The 5-year figure is 0.36, and annualized covariance runs at 193.8 %².
QQQ is close to the least connected end of MLR's tracked universe, ranking #11 of 14. On 12-month performance MLR holds a 7.1-point edge, +33.4% against +26.3%. Note the risk asymmetry: MLR runs 1.6 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.
MLR vs QQQ: side by side
| MLR (Miller Industries, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +33.4% | +26.3% |
| 5-year return | +70.2% | +95.4% |
| Volatility (ann.) | 31.9% | 19.6% |
| Beta vs S&P 500 | 0.88 | 1.28 |
| Max drawdown (3Y) | -52.7% | -22.8% |
| Market cap | $0.7B | – |
| P/E (trailing) | 46.3 | – |
| Dividend yield | 1.43% | 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 | MLR | QQQ |
|---|---|---|
| 2022 | -17.9% | -32.6% |
| 2023 | +61.8% | +54.9% |
| 2024 | +56.6% | +25.6% |
| 2025 | -41.7% | +20.8% |
| 2026 | +56.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MLR and QQQ good diversifiers for each other?
Reasonably. At 0.31, MLR and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MLR and QQQ?
The MLR/QQQ correlation stands at 0.31 on a 3-year window (1 year: 0.04, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for MLR?
Reasonably. At 0.31, MLR and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.31 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/mlr-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mlr-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MLR correlations · QQQ correlations
