MPWR vs QQQM: Correlation
How closely do Monolithic Power Systems (MPWR) and Invesco Nasdaq 100 ETF (QQQM) trade together? Their weekly returns over three years give a correlation of 0.68, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MPWR and QQQM?
Across a 3-year window, the weekly returns of MPWR and QQQM correlate at 0.68, strong. Lately the two have drifted apart, with the 1-year correlation at 0.54 versus 0.68 over 3 years. Stretching to 5 years gives 0.68, with an annualized covariance of 638.2 %².
Within MPWR's tracked universe of 41 assets, QQQM comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MPWR ahead by 26.0 points (+52.4% versus +26.4%). The rolling one-year correlation moved between 0.48 and 0.81 over the past three years, a moderate range. One caveat on sizing: MPWR is 2.5 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.
MPWR vs QQQM: side by side
| MPWR (Monolithic Power Systems) | QQQM (Invesco Nasdaq 100 ETF) | |
|---|---|---|
| 1-year return | +52.4% | +26.4% |
| 5-year return | +170.3% | +96.1% |
| Volatility (ann.) | 48.1% | 19.5% |
| Beta vs S&P 500 | 2.22 | 1.28 |
| Max drawdown (3Y) | -51.6% | -22.7% |
| Market cap | $64.4B | – |
| P/E (trailing) | 79.4 | – |
| Dividend yield | 0.55% | 0.46% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $97.1B |
| Sector / category | Information Technology | ETF · US Growth & Tech |
QQQM is a Large Growth fund from Invesco: $97.1B under management, 105 holdings, a 0.15% expense ratio, a 0.46% trailing dividend yield.
Year-by-year returns
| Year | MPWR | QQQM |
|---|---|---|
| 2022 | -27.8% | -32.5% |
| 2023 | +79.8% | +55.0% |
| 2024 | -5.6% | +25.7% |
| 2025 | +54.5% | +20.9% |
| 2026 | +45.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
MPWR represents 0.28% of QQQM's portfolio, so part of any move in QQQM is MPWR itself, and the correlation between them is partly mechanical.
Are MPWR and QQQM good diversifiers for each other?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MPWR and QQQM?
Using weekly returns as of 2026-08-27: 0.68 over 3 years, with 0.54 over the last year and 0.68 over 5 years.
Is QQQM a good diversifier for MPWR?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.68 mean?
A reading of 0.68 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/mpwr-vs-qqqm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mpwr-vs-qqqm/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MPWR correlations · QQQM correlations
