MNKD vs QQQ: Correlation
Measured on weekly returns over the past three years, MannKind Corporation (MNKD) and Invesco QQQ Trust (QQQ) carry a correlation of 0.26, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MNKD and QQQ?
Across a 3-year window, the weekly returns of MNKD and QQQ correlate at 0.26, weak. The link has tightened recently: the 1-year correlation (0.41) runs above the 3-year figure (0.26). Stretching to 5 years gives 0.28, with an annualized covariance of 298.7 %².
QQQ is close to the least connected end of MNKD's tracked universe, ranking #8 of 12. The last year tells two different stories: QQQ led by 36.5 percentage points, -10.2% for MNKD against +26.3% for QQQ. Note the risk asymmetry: MNKD runs 2.9 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.
MNKD vs QQQ: side by side
| MNKD (MannKind Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -10.2% | +26.3% |
| 5-year return | -13.8% | +95.4% |
| Volatility (ann.) | 57.7% | 19.6% |
| Beta vs S&P 500 | 1.17 | 1.28 |
| Max drawdown (3Y) | -69.4% | -22.8% |
| Market cap | $1.3B | – |
| P/E (trailing) | – | – |
| 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 | MNKD | QQQ |
|---|---|---|
| 2022 | +20.6% | -32.6% |
| 2023 | -30.9% | +54.9% |
| 2024 | +76.6% | +25.6% |
| 2025 | -11.8% | +20.8% |
| 2026 | -28.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MNKD and QQQ good diversifiers for each other?
Reasonably. At 0.26, MNKD and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MNKD and QQQ?
The MNKD/QQQ correlation stands at 0.26 on a 3-year window (1 year: 0.41, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for MNKD?
Reasonably. At 0.26, MNKD and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.26 mean?
A reading of 0.26 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mnkd-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mnkd-vs-qqq/)
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Related comparisons
Hubs: MNKD correlations · QQQ correlations
