MTX vs QQQ: Correlation
How closely do Minerals Technologies Inc. (MTX) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.32, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTX and QQQ?
Over the past 3 years, MTX and QQQ moved with a correlation of 0.32, which is moderate. The link has loosened recently: the 1-year correlation (0.02) runs below the 3-year figure (0.32). Over 5 years the correlation is 0.40, and the annualized covariance of weekly returns is 190.3 %².
Among the 17 assets we track against MTX, QQQ sits near the bottom by co-movement, at rank #14. Over the last 12 months QQQ came out ahead by 14.3 percentage points (+12.0% against +26.3%). One caveat on sizing: MTX is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
MTX vs QQQ: side by side
| MTX (Minerals Technologies Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +12.0% | +26.3% |
| 5-year return | -6.2% | +95.4% |
| Volatility (ann.) | 30.4% | 19.6% |
| Beta vs S&P 500 | 0.90 | 1.28 |
| Max drawdown (3Y) | -42.5% | -22.8% |
| Market cap | $2.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.65% | 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 | MTX | QQQ |
|---|---|---|
| 2022 | -16.7% | -32.6% |
| 2023 | +18.0% | +54.9% |
| 2024 | +7.4% | +25.6% |
| 2025 | -19.4% | +20.8% |
| 2026 | +19.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTX and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MTX and QQQ?
The MTX/QQQ correlation stands at 0.32 on a 3-year window (1 year: 0.02, 5 years: 0.40), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for MTX?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.32 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.
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Related comparisons
Hubs: MTX correlations · QQQ correlations
