MUSA vs QQQ: Correlation
Murphy USA Inc. (MUSA) and Invesco QQQ Trust (QQQ) show a near-zero relationship: their 3-year correlation of weekly returns is -0.01.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MUSA and QQQ?
Over the past 3 years, MUSA and QQQ moved with a correlation of -0.01, which is near zero, meaning they move largely independently. The past 12 months show a weaker link (-0.24) than the 3-year average (-0.01). Over 5 years the correlation is 0.09, and the annualized covariance of weekly returns is -6.5 %².
Within MUSA's tracked universe of 15 assets, QQQ comes in at #8 by 3-year correlation. On 12-month performance MUSA holds a 9.0-point edge, +35.3% against +26.3%. Risk is not evenly split, since MUSA carries 1.7 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.
MUSA vs QQQ: side by side
| MUSA (Murphy USA Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +35.3% | +26.3% |
| 5-year return | +234.8% | +95.4% |
| Volatility (ann.) | 33.7% | 19.6% |
| Beta vs S&P 500 | 0.06 | 1.28 |
| Max drawdown (3Y) | -35.5% | -22.8% |
| Market cap | $9.4B | – |
| P/E (trailing) | 16.3 | – |
| Dividend yield | 0.46% | 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 | MUSA | QQQ |
|---|---|---|
| 2022 | +41.0% | -32.6% |
| 2023 | +28.2% | +54.9% |
| 2024 | +41.3% | +25.6% |
| 2025 | -19.1% | +20.8% |
| 2026 | +26.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MUSA and QQQ good diversifiers for each other?
Yes. With a correlation of -0.01, MUSA and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MUSA and QQQ?
As of 2026-08-27, the correlation of weekly returns between MUSA and QQQ is -0.01 over 3 years, -0.24 over 1 year and 0.09 over 5 years.
Is QQQ a good diversifier for MUSA?
Yes. With a correlation of -0.01, MUSA and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.01 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: MUSA correlations · QQQ correlations
