MP vs QQQ: Correlation
How closely do MP Materials Corp. (MP) 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 MP and QQQ?
Across a 3-year window, the weekly returns of MP and QQQ correlate at 0.20, weak. Lately the two have moved closer together, with the 1-year correlation at 0.48 versus 0.20 over 3 years. Stretching to 5 years gives 0.32, with an annualized covariance of 267.6 %².
QQQ is close to the least connected end of MP's tracked universe, ranking #9 of 13. The last year tells two different stories: QQQ led by 43.6 percentage points, -17.3% for MP against +26.3% for QQQ. One caveat on sizing: MP is 3.5 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.
MP vs QQQ: side by side
| MP (MP Materials Corp.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -17.3% | +26.3% |
| 5-year return | +76.6% | +95.4% |
| Volatility (ann.) | 69.3% | 19.6% |
| Beta vs S&P 500 | 0.90 | 1.28 |
| Max drawdown (3Y) | -61.4% | -22.8% |
| Market cap | $10.5B | – |
| 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 | MP | QQQ |
|---|---|---|
| 2022 | -46.5% | -32.6% |
| 2023 | -18.2% | +54.9% |
| 2024 | -21.4% | +25.6% |
| 2025 | +223.8% | +20.8% |
| 2026 | +16.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MP and QQQ good diversifiers for each other?
A fair diversifier. At 0.20, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MP and QQQ?
As of 2026-08-27, the correlation of weekly returns between MP and QQQ is 0.20 over 3 years, 0.48 over 1 year and 0.32 over 5 years.
Is QQQ a good diversifier for MP?
A fair diversifier. At 0.20, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.20 mean?
A reading of 0.20 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/mp-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mp-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MP correlations · QQQ correlations
