MUX vs QQQ: Correlation
McEwen Inc. (MUX) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MUX and QQQ?
Over the past 3 years, MUX and QQQ moved with a correlation of 0.34, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.48 versus 0.34 over 3 years. Over 5 years the correlation is 0.37, and the annualized covariance of weekly returns is 381.8 %².
Among the 15 assets we track against MUX, QQQ sits near the bottom by co-movement, at rank #12. Their recent paths diverged sharply: over the last 12 months MUX outperformed by 71.0 percentage points (+97.3% for MUX against +26.3% for QQQ). Risk is not evenly split, since MUX carries 2.9 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.
MUX vs QQQ: side by side
| MUX (McEwen Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +97.3% | +26.3% |
| 5-year return | +90.0% | +95.4% |
| Volatility (ann.) | 56.7% | 19.6% |
| Beta vs S&P 500 | 1.41 | 1.28 |
| Max drawdown (3Y) | -46.5% | -22.8% |
| Market cap | $1.3B | – |
| P/E (trailing) | 16.7 | – |
| 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 | MUX | QQQ |
|---|---|---|
| 2022 | -33.9% | -32.6% |
| 2023 | +23.0% | +54.9% |
| 2024 | +7.9% | +25.6% |
| 2025 | +137.9% | +20.8% |
| 2026 | +17.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MUX and QQQ good diversifiers for each other?
Reasonably. At 0.34, MUX and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MUX and QQQ?
Using weekly returns as of 2026-08-27: 0.34 over 3 years, with 0.48 over the last year and 0.37 over 5 years.
Is QQQ a good diversifier for MUX?
Reasonably. At 0.34, MUX 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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Related comparisons
Hubs: MUX correlations · QQQ correlations
