MOD vs QQQ: Correlation
How closely do Modine Manufacturing Company (MOD) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.45, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MOD and QQQ?
Over the past 3 years, MOD and QQQ moved with a correlation of 0.45, which is moderate. The link has loosened recently: the 1-year correlation (0.20) runs below the 3-year figure (0.45). Over 5 years the correlation is 0.42, and the annualized covariance of weekly returns is 518.1 %².
By 3-year correlation, QQQ places #9 of the 15 assets tracked against MOD. Over the last 12 months MOD came out ahead by 6.4 percentage points (+32.7% against +26.3%). Note the risk asymmetry: MOD 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.
MOD vs QQQ: side by side
| MOD (Modine Manufacturing Company) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +32.7% | +26.3% |
| 5-year return | +1391.7% | +95.4% |
| Volatility (ann.) | 59.1% | 19.6% |
| Beta vs S&P 500 | 1.87 | 1.28 |
| Max drawdown (3Y) | -51.6% | -22.8% |
| Market cap | $9.9B | – |
| P/E (trailing) | 70.0 | – |
| 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 | MOD | QQQ |
|---|---|---|
| 2022 | +96.8% | -32.6% |
| 2023 | +200.6% | +54.9% |
| 2024 | +94.2% | +25.6% |
| 2025 | +15.2% | +20.8% |
| 2026 | +39.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MOD and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MOD and QQQ?
The MOD/QQQ correlation stands at 0.45 on a 3-year window (1 year: 0.20, 5 years: 0.42), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for MOD?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mod-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mod-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MOD correlations · QQQ correlations
