MTRN vs QQQ: Correlation
How closely do Materion Corporation (MTRN) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTRN and QQQ?
Across a 3-year window, the weekly returns of MTRN and QQQ correlate at 0.44, moderate. The relationship has been stable: the 1-year correlation (0.41) sits close to the 3-year figure. Stretching to 5 years gives 0.45, with an annualized covariance of 393.4 %².
QQQ is close to the least connected end of MTRN's tracked universe, ranking #12 of 16. Their recent paths diverged sharply: over the last 12 months MTRN outperformed by 97.3 percentage points (+123.6% for MTRN against +26.3% for QQQ). Risk is not evenly split, since MTRN carries 2.3 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.
MTRN vs QQQ: side by side
| MTRN (Materion Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +123.6% | +26.3% |
| 5-year return | +248.3% | +95.4% |
| Volatility (ann.) | 45.7% | 19.6% |
| Beta vs S&P 500 | 1.51 | 1.28 |
| Max drawdown (3Y) | -47.8% | -22.8% |
| Market cap | $5.1B | – |
| P/E (trailing) | 54.9 | – |
| Dividend yield | 0.24% | 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 | MTRN | QQQ |
|---|---|---|
| 2022 | -4.3% | -32.6% |
| 2023 | +49.4% | +54.9% |
| 2024 | -23.7% | +25.6% |
| 2025 | +26.4% | +20.8% |
| 2026 | +98.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTRN and QQQ good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MTRN and QQQ?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.41 over the last year and 0.45 over 5 years.
Is QQQ a good diversifier for MTRN?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.44 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/mtrn-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mtrn-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MTRN correlations · QQQ correlations
