MSGS vs QQQ: Correlation
How closely do Madison Square Garden Sports Corp. (MSGS) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.30, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MSGS and QQQ?
On 3 years of weekly data the MSGS/QQQ correlation comes out at 0.30, moderate. Lately the two have drifted apart, with the 1-year correlation at -0.02 versus 0.30 over 3 years. The 5-year figure is 0.28, and annualized covariance runs at 135.9 %².
Among the 11 assets we track against MSGS, QQQ sits near the bottom by co-movement, at rank #8. Correlation aside, the last 12 months split them widely, with MSGS ahead by 74.3 points (+100.6% 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.
MSGS vs QQQ: side by side
| MSGS (Madison Square Garden Sports Corp.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +100.6% | +26.3% |
| 5-year return | +131.3% | +95.4% |
| Volatility (ann.) | 23.2% | 19.6% |
| Beta vs S&P 500 | 0.62 | 1.28 |
| Max drawdown (3Y) | -25.5% | -22.8% |
| Market cap | $9.5B | – |
| P/E (trailing) | 1230.2 | – |
| Dividend yield | 0.00% | 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 | MSGS | QQQ |
|---|---|---|
| 2022 | +10.5% | -32.6% |
| 2023 | -0.8% | +54.9% |
| 2024 | +24.1% | +25.6% |
| 2025 | +14.6% | +20.8% |
| 2026 | +52.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MSGS and QQQ good diversifiers for each other?
Reasonably. At 0.30, MSGS and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MSGS and QQQ?
As of 2026-08-27, the correlation of weekly returns between MSGS and QQQ is 0.30 over 3 years, -0.02 over 1 year and 0.28 over 5 years.
Is QQQ a good diversifier for MSGS?
Reasonably. At 0.30, MSGS and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.30 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.
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Related comparisons
Hubs: MSGS correlations · QQQ correlations
