MTG vs QQQ: Correlation
Measured on weekly returns over the past three years, MGIC Investment Corporation (MTG) and Invesco QQQ Trust (QQQ) carry a correlation of 0.24, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTG and QQQ?
On 3 years of weekly data the MTG/QQQ correlation comes out at 0.24, weak. The past 12 months show a weaker link (0.01) than the 3-year average (0.24). The 5-year figure is 0.36, and annualized covariance runs at 102.2 %².
By 3-year correlation, QQQ places #10 of the 16 assets tracked against MTG. The trailing year gives QQQ the advantage: +13.5% versus +26.3%, a 12.8-point spread.
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.
MTG vs QQQ: side by side
| MTG (MGIC Investment Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +13.5% | +26.3% |
| 5-year return | +129.5% | +95.4% |
| Volatility (ann.) | 21.6% | 19.6% |
| Beta vs S&P 500 | 0.57 | 1.28 |
| Max drawdown (3Y) | -15.8% | -22.8% |
| Market cap | $6.4B | – |
| P/E (trailing) | 9.8 | – |
| Dividend yield | 1.92% | 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 | MTG | QQQ |
|---|---|---|
| 2022 | -7.5% | -32.6% |
| 2023 | +52.4% | +54.9% |
| 2024 | +25.7% | +25.6% |
| 2025 | +25.9% | +20.8% |
| 2026 | +8.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTG and QQQ good diversifiers for each other?
A fair diversifier. At 0.24, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MTG and QQQ?
The MTG/QQQ correlation stands at 0.24 on a 3-year window (1 year: 0.01, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for MTG?
A fair diversifier. At 0.24, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.24 mean?
A reading of 0.24 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/mtg-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mtg-vs-qqq/)
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Related comparisons
Hubs: MTG correlations · QQQ correlations
