MRNA vs QQQ: Correlation
Moderna (MRNA) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.14.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MRNA and QQQ?
Over the past 3 years, MRNA and QQQ moved with a correlation of 0.14, which is weak. The past 12 months show a weaker link (0.01) than the 3-year average (0.14). Over 5 years the correlation is 0.20, and the annualized covariance of weekly returns is 275.3 %².
By 3-year correlation, QQQ places #27 of the 38 assets tracked against MRNA. Correlation aside, the last 12 months split them widely, with MRNA ahead by 442.5 points (+468.8% versus +26.3%). On a rolling one-year basis the correlation drifted between 0.15 and 0.53, a moderate band. One caveat on sizing: MRNA is 5.1 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.
MRNA vs QQQ: side by side
| MRNA (Moderna) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +468.8% | +26.3% |
| 5-year return | -61.5% | +95.4% |
| Volatility (ann.) | 100.7% | 19.6% |
| Beta vs S&P 500 | 0.98 | 1.28 |
| Max drawdown (3Y) | -86.6% | -22.8% |
| Market cap | $57.0B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Health Care | 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 | MRNA | QQQ |
|---|---|---|
| 2022 | -29.3% | -32.6% |
| 2023 | -44.6% | +54.9% |
| 2024 | -58.2% | +25.6% |
| 2025 | -29.1% | +20.8% |
| 2026 | +384.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MRNA and QQQ good diversifiers for each other?
Yes: at 0.14, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MRNA and QQQ?
Using weekly returns as of 2026-08-27: 0.14 over 3 years, with 0.01 over the last year and 0.20 over 5 years.
Is QQQ a good diversifier for MRNA?
Yes: at 0.14, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.14 mean?
On the −1 to +1 scale, 0.14 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/mrna-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mrna-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MRNA correlations · QQQ correlations
