MMM vs QQQ: Correlation
3M (MMM) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MMM and QQQ?
Across a 3-year window, the weekly returns of MMM and QQQ correlate at 0.29, weak. The link has loosened recently: the 1-year correlation (0.15) runs below the 3-year figure (0.29). Stretching to 5 years gives 0.42, with an annualized covariance of 171.0 %².
Within MMM's tracked universe of 34 assets, QQQ comes in at #24 by 3-year correlation. On 12-month performance QQQ holds a 9.9-point edge, +16.4% against +26.3%. This link changes with the market regime, having swung between -0.05 and 0.68 on a rolling one-year basis. One caveat on sizing: MMM is 1.5 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.
MMM vs QQQ: side by side
| MMM (3M) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +16.4% | +26.3% |
| 5-year return | +29.9% | +95.4% |
| Volatility (ann.) | 29.8% | 19.6% |
| Beta vs S&P 500 | 0.89 | 1.28 |
| Max drawdown (3Y) | -20.7% | -22.8% |
| Market cap | $92.2B | – |
| P/E (trailing) | 31.9 | – |
| Dividend yield | 1.68% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Industrials | 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 | MMM | QQQ |
|---|---|---|
| 2022 | -29.6% | -32.6% |
| 2023 | -3.3% | +54.9% |
| 2024 | +46.1% | +25.6% |
| 2025 | +26.4% | +20.8% |
| 2026 | +13.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MMM and QQQ good diversifiers for each other?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MMM and QQQ?
Using weekly returns as of 2026-08-27: 0.29 over 3 years, with 0.15 over the last year and 0.42 over 5 years.
Is QQQ a good diversifier for MMM?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.29 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/mmm-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mmm-vs-qqq/)
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Related comparisons
Hubs: MMM correlations · QQQ correlations
