MTUS vs QQQ: Correlation
Measured on weekly returns over the past three years, Metallus Inc. (MTUS) and Invesco QQQ Trust (QQQ) carry a correlation of 0.34, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTUS and QQQ?
On 3 years of weekly data the MTUS/QQQ correlation comes out at 0.34, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.16 versus 0.34 over 3 years. The 5-year figure is 0.40, and annualized covariance runs at 270.4 %².
QQQ is close to the least connected end of MTUS's tracked universe, ranking #13 of 16. Over the last 12 months QQQ came out ahead by 6.1 percentage points (+20.2% against +26.3%). Note the risk asymmetry: MTUS runs 2.1 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.
MTUS vs QQQ: side by side
| MTUS (Metallus Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +20.2% | +26.3% |
| 5-year return | +40.6% | +95.4% |
| Volatility (ann.) | 40.3% | 19.6% |
| Beta vs S&P 500 | 1.20 | 1.28 |
| Max drawdown (3Y) | -52.7% | -22.8% |
| Market cap | $0.8B | – |
| P/E (trailing) | 99.5 | – |
| Dividend yield | 0.00% | 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 | MTUS | QQQ |
|---|---|---|
| 2022 | +10.1% | -32.6% |
| 2023 | +29.1% | +54.9% |
| 2024 | -39.7% | +25.6% |
| 2025 | +21.4% | +20.8% |
| 2026 | +16.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTUS and QQQ good diversifiers for each other?
Reasonably. At 0.34, MTUS and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MTUS and QQQ?
The MTUS/QQQ correlation stands at 0.34 on a 3-year window (1 year: 0.16, 5 years: 0.40), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for MTUS?
Reasonably. At 0.34, MTUS and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.34 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
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Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mtus-vs-qqq/)
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Related comparisons
Hubs: MTUS correlations · QQQ correlations
