MPV vs QQQ: Correlation
Barings Participation Investors (MPV) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MPV and QQQ?
On 3 years of weekly data the MPV/QQQ correlation comes out at 0.19, weak. The link has tightened recently: the 1-year correlation (0.34) runs above the 3-year figure (0.19). The 5-year figure is 0.19, and annualized covariance runs at 76.1 %².
Among the 11 assets we track against MPV, QQQ sits near the bottom by co-movement, at rank #7. Correlation aside, the last 12 months split them widely, with QQQ ahead by 40.2 points (-13.9% versus +26.3%).
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.
MPV vs QQQ: side by side
| MPV (Barings Participation Investors) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -13.9% | +26.3% |
| 5-year return | +72.3% | +95.4% |
| Volatility (ann.) | 21.0% | 19.6% |
| Beta vs S&P 500 | 0.27 | 1.28 |
| Max drawdown (3Y) | -20.8% | -22.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | 13.1 | – |
| Dividend yield | 9.41% | 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 | MPV | QQQ |
|---|---|---|
| 2022 | -10.7% | -32.6% |
| 2023 | +39.1% | +54.9% |
| 2024 | +20.5% | +25.6% |
| 2025 | +0.7% | +20.8% |
| 2026 | +4.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MPV and QQQ good diversifiers for each other?
Yes. With a correlation of 0.19, MPV and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MPV and QQQ?
The MPV/QQQ correlation stands at 0.19 on a 3-year window (1 year: 0.34, 5 years: 0.19), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for MPV?
Yes. With a correlation of 0.19, MPV and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.19 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/mpv-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mpv-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MPV correlations · QQQ correlations
