MSB vs QQQ: Correlation
How closely do Mesabi Trust (MSB) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.27, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MSB and QQQ?
Over the past 3 years, MSB and QQQ moved with a correlation of 0.27, which is weak. Recent behaviour matches the longer record: 0.25 over 1 year against 0.27 over 3. Over 5 years the correlation is 0.16, and the annualized covariance of weekly returns is 212.4 %².
Among the 10 assets we track against MSB, QQQ sits near the bottom by co-movement, at rank #7. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 49.5 percentage points (-23.2% for MSB against +26.3% for QQQ). Note the risk asymmetry: MSB runs 2.0 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.
MSB vs QQQ: side by side
| MSB (Mesabi Trust) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -23.2% | +26.3% |
| 5-year return | +19.2% | +95.4% |
| Volatility (ann.) | 39.9% | 19.6% |
| Beta vs S&P 500 | 0.92 | 1.28 |
| Max drawdown (3Y) | -45.8% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 27.4 | – |
| Dividend yield | 4.16% | 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 | MSB | QQQ |
|---|---|---|
| 2022 | -22.8% | -32.6% |
| 2023 | +15.6% | +54.9% |
| 2024 | +47.0% | +25.6% |
| 2025 | +71.9% | +20.8% |
| 2026 | -37.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MSB and QQQ good diversifiers for each other?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MSB and QQQ?
As of 2026-08-27, the correlation of weekly returns between MSB and QQQ is 0.27 over 3 years, 0.25 over 1 year and 0.16 over 5 years.
Is QQQ a good diversifier for MSB?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.27 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
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Related comparisons
Hubs: MSB correlations · QQQ correlations
