MUA vs QQQ: Correlation
Measured on weekly returns over the past three years, Blackrock MuniAssets Fund, Inc (MUA) and Invesco QQQ Trust (QQQ) carry a correlation of 0.26, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MUA and QQQ?
Over the past 3 years, MUA and QQQ moved with a correlation of 0.26, which is weak. The past 12 months show a tighter link (0.41) than the 3-year average (0.26). Over 5 years the correlation is 0.34, and the annualized covariance of weekly returns is 74.5 %².
Among the 12 assets we track against MUA, QQQ sits near the bottom by co-movement, at rank #9. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 26.0 percentage points (+0.3% for MUA against +26.3% for QQQ).
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.
MUA vs QQQ: side by side
| MUA (Blackrock MuniAssets Fund, Inc) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +0.3% | +26.3% |
| 5-year return | -17.1% | +95.4% |
| Volatility (ann.) | 14.9% | 19.6% |
| Beta vs S&P 500 | 0.36 | 1.28 |
| Max drawdown (3Y) | -20.0% | -22.8% |
| Market cap | $0.7B | – |
| P/E (trailing) | 32.2 | – |
| Dividend yield | 6.67% | 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 | MUA | QQQ |
|---|---|---|
| 2022 | -22.4% | -32.6% |
| 2023 | +3.0% | +54.9% |
| 2024 | +10.5% | +25.6% |
| 2025 | +3.3% | +20.8% |
| 2026 | -3.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MUA and QQQ good diversifiers for each other?
Reasonably. At 0.26, MUA and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MUA and QQQ?
As of 2026-08-27, the correlation of weekly returns between MUA and QQQ is 0.26 over 3 years, 0.41 over 1 year and 0.34 over 5 years.
Is QQQ a good diversifier for MUA?
Reasonably. At 0.26, MUA and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.26 mean?
On the −1 to +1 scale, 0.26 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
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Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mua-vs-qqq/)
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Related comparisons
Hubs: MUA correlations · QQQ correlations
