MTD vs QQQ: Correlation
Measured on weekly returns over the past three years, Mettler Toledo (MTD) and Invesco QQQ Trust (QQQ) carry a correlation of 0.35, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTD and QQQ?
Across a 3-year window, the weekly returns of MTD and QQQ correlate at 0.35, moderate. The link has loosened recently: the 1-year correlation (0.03) runs below the 3-year figure (0.35). Stretching to 5 years gives 0.52, with an annualized covariance of 216.1 %².
Within MTD's tracked universe of 38 assets, QQQ comes in at #26 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 16.8 points (+9.5% versus +26.3%). The relationship is regime-dependent: the rolling one-year correlation swung between 0.02 and 0.69 over the past three years, so this pair behaves very differently depending on the market environment. Note the risk asymmetry: MTD runs 1.6 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.
MTD vs QQQ: side by side
| MTD (Mettler Toledo) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +9.5% | +26.3% |
| 5-year return | -11.4% | +95.4% |
| Volatility (ann.) | 31.4% | 19.6% |
| Beta vs S&P 500 | 1.00 | 1.28 |
| Max drawdown (3Y) | -36.6% | -22.8% |
| Market cap | $28.2B | – |
| P/E (trailing) | 31.7 | – |
| 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 | MTD | QQQ |
|---|---|---|
| 2022 | -14.8% | -32.6% |
| 2023 | -16.1% | +54.9% |
| 2024 | +0.9% | +25.6% |
| 2025 | +13.9% | +20.8% |
| 2026 | +0.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTD and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MTD and QQQ?
As of 2026-08-27, the correlation of weekly returns between MTD and QQQ is 0.35 over 3 years, 0.03 over 1 year and 0.52 over 5 years.
Is QQQ a good diversifier for MTD?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.35 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
$ curl https://www.pairbook.io/api/v1/pairs/mtd-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mtd-vs-qqq/)
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Related comparisons
Hubs: MTD correlations · QQQ correlations
