MT vs QQQ: Correlation
How closely do Arcelor Mittal NY Registry Shares NEW (MT) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MT and QQQ?
Over the past 3 years, MT and QQQ moved with a correlation of 0.38, which is moderate. The relationship has been stable: the 1-year correlation (0.31) sits close to the 3-year figure. Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 278.8 %².
QQQ is close to the least connected end of MT's tracked universe, ranking #11 of 15. The last year tells two different stories: MT led by 103.9 percentage points, +130.2% for MT against +26.3% for QQQ. Risk is not evenly split, since MT carries 1.9 times the volatility of the other side.
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.
MT vs QQQ: side by side
| MT (Arcelor Mittal NY Registry Shares NEW) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +130.2% | +26.3% |
| 5-year return | +134.6% | +95.4% |
| Volatility (ann.) | 37.2% | 19.6% |
| Beta vs S&P 500 | 1.19 | 1.28 |
| Max drawdown (3Y) | -30.8% | -22.8% |
| Market cap | $56.3B | – |
| P/E (trailing) | 31.4 | – |
| Dividend yield | 0.81% | 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 | MT | QQQ |
|---|---|---|
| 2022 | -16.4% | -32.6% |
| 2023 | +10.3% | +54.9% |
| 2024 | -16.9% | +25.6% |
| 2025 | +100.1% | +20.8% |
| 2026 | +64.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MT and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MT and QQQ?
The MT/QQQ correlation stands at 0.38 on a 3-year window (1 year: 0.31, 5 years: 0.43), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for MT?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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/mt-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mt-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MT correlations · QQQ correlations
