MTR vs QQQ: Correlation
How closely do Mesa Royalty Trust (MTR) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of -0.04, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTR and QQQ?
On 3 years of weekly data the MTR/QQQ correlation comes out at -0.04, near zero, meaning they move largely independently. The relationship has been stable: the 1-year correlation (0.01) sits close to the 3-year figure. The 5-year figure is -0.09, and annualized covariance runs at -41.3 %².
Out of 10 assets tracked against MTR, QQQ lands near the bottom at #7. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 83.9 percentage points (-57.6% for MTR against +26.3% for QQQ). Note the risk asymmetry: MTR runs 2.4 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.
MTR vs QQQ: side by side
| MTR (Mesa Royalty Trust) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -57.6% | +26.3% |
| 5-year return | -45.0% | +95.4% |
| Volatility (ann.) | 47.8% | 19.6% |
| Beta vs S&P 500 | 0.01 | 1.28 |
| Max drawdown (3Y) | -87.3% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 11.5 | – |
| Dividend yield | 6.83% | 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 | MTR | QQQ |
|---|---|---|
| 2022 | +310.9% | -32.6% |
| 2023 | -35.4% | +54.9% |
| 2024 | -54.1% | +25.6% |
| 2025 | -23.6% | +20.8% |
| 2026 | -45.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTR and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of -0.04 means the two rarely move for the same reasons.
FAQ
What is the correlation between MTR and QQQ?
The MTR/QQQ correlation stands at -0.04 on a 3-year window (1 year: 0.01, 5 years: -0.09), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for MTR?
By historical standards, yes. A correlation of -0.04 means the two rarely move for the same reasons.
What does a correlation of -0.04 mean?
On the −1 to +1 scale, -0.04 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/mtr-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mtr-vs-qqq/)
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Related comparisons
Hubs: MTR correlations · QQQ correlations
