MNDY vs QQQ: Correlation
monday.com Ltd. (MNDY) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MNDY and QQQ?
Over the past 3 years, MNDY and QQQ moved with a correlation of 0.49, which is moderate. The past 12 months show a weaker link (0.28) than the 3-year average (0.49). Over 5 years the correlation is 0.56, and the annualized covariance of weekly returns is 561.8 %².
Within MNDY's tracked universe of 13 assets, QQQ comes in at #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 71.6 points (-45.3% versus +26.3%). Note the risk asymmetry: MNDY runs 3.0 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.
MNDY vs QQQ: side by side
| MNDY (monday.com Ltd.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -45.3% | +26.3% |
| 5-year return | -74.0% | +95.4% |
| Volatility (ann.) | 59.2% | 19.6% |
| Beta vs S&P 500 | 1.96 | 1.28 |
| Max drawdown (3Y) | -82.1% | -22.8% |
| Market cap | $4.2B | – |
| P/E (trailing) | 42.2 | – |
| 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 | MNDY | QQQ |
|---|---|---|
| 2022 | -60.5% | -32.6% |
| 2023 | +53.9% | +54.9% |
| 2024 | +25.4% | +25.6% |
| 2025 | -37.3% | +20.8% |
| 2026 | -32.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MNDY and QQQ good diversifiers for each other?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MNDY and QQQ?
The MNDY/QQQ correlation stands at 0.49 on a 3-year window (1 year: 0.28, 5 years: 0.56), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for MNDY?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.49 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/mndy-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mndy-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MNDY correlations · QQQ correlations
