MMSI vs QQQ: Correlation
How closely do Merit Medical Systems, Inc. (MMSI) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.20, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MMSI and QQQ?
Over the past 3 years, MMSI and QQQ moved with a correlation of 0.20, which is weak. The past 12 months show a weaker link (0.03) than the 3-year average (0.20). Over 5 years the correlation is 0.32, and the annualized covariance of weekly returns is 98.0 %².
By 3-year correlation, QQQ places #9 of the 14 assets tracked against MMSI. The last year tells two different stories: QQQ led by 27.7 percentage points, -1.4% for MMSI 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.
MMSI vs QQQ: side by side
| MMSI (Merit Medical Systems, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -1.4% | +26.3% |
| 5-year return | +25.2% | +95.4% |
| Volatility (ann.) | 24.7% | 19.6% |
| Beta vs S&P 500 | 0.50 | 1.28 |
| Max drawdown (3Y) | -45.3% | -22.8% |
| Market cap | $5.3B | – |
| P/E (trailing) | 37.3 | – |
| 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 | MMSI | QQQ |
|---|---|---|
| 2022 | +13.4% | -32.6% |
| 2023 | +7.6% | +54.9% |
| 2024 | +27.3% | +25.6% |
| 2025 | -8.9% | +20.8% |
| 2026 | +1.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MMSI and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.20 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MMSI and QQQ?
The MMSI/QQQ correlation stands at 0.20 on a 3-year window (1 year: 0.03, 5 years: 0.32), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for MMSI?
Yes, to a useful degree: a correlation of 0.20 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.20 mean?
On the −1 to +1 scale, 0.20 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.
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Related comparisons
Hubs: MMSI correlations · QQQ correlations
