MSBI vs QQQ: Correlation
Measured on weekly returns over the past three years, Midland States Bancorp, Inc. (MSBI) and Invesco QQQ Trust (QQQ) carry a correlation of 0.21, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MSBI and QQQ?
On 3 years of weekly data the MSBI/QQQ correlation comes out at 0.21, weak. The link has loosened recently: the 1-year correlation (0.02) runs below the 3-year figure (0.21). The 5-year figure is 0.23, and annualized covariance runs at 143.7 %².
QQQ is close to the least connected end of MSBI's tracked universe, ranking #7 of 11. The last year tells two different stories: MSBI led by 60.8 percentage points, +87.1% for MSBI against +26.3% for QQQ. Note the risk asymmetry: MSBI runs 1.8 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.
MSBI vs QQQ: side by side
| MSBI (Midland States Bancorp, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +87.1% | +26.3% |
| 5-year return | +70.9% | +95.4% |
| Volatility (ann.) | 34.4% | 19.6% |
| Beta vs S&P 500 | 0.70 | 1.28 |
| Max drawdown (3Y) | -44.3% | -22.8% |
| Market cap | $0.7B | – |
| P/E (trailing) | 20.9 | – |
| Dividend yield | 3.90% | 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 | MSBI | QQQ |
|---|---|---|
| 2022 | +12.0% | -32.6% |
| 2023 | +9.1% | +54.9% |
| 2024 | -6.7% | +25.6% |
| 2025 | -6.9% | +20.8% |
| 2026 | +60.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MSBI and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.21 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MSBI and QQQ?
Using weekly returns as of 2026-08-27: 0.21 over 3 years, with 0.02 over the last year and 0.23 over 5 years.
Is QQQ a good diversifier for MSBI?
Yes, to a useful degree: a correlation of 0.21 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.21 mean?
A reading of 0.21 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/msbi-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/msbi-vs-qqq/)
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Related comparisons
Hubs: MSBI correlations · QQQ correlations
