MWA vs QQQ: Correlation
Measured on weekly returns over the past three years, MUELLER WATER PRODUCTS (MWA) and Invesco QQQ Trust (QQQ) carry a correlation of 0.35, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MWA and QQQ?
Over the past 3 years, MWA and QQQ moved with a correlation of 0.35, which is moderate. The link has loosened recently: the 1-year correlation (0.12) runs below the 3-year figure (0.35). Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 216.1 %².
Among the 11 assets we track against MWA, QQQ sits near the bottom by co-movement, at rank #8. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 34.7 percentage points (-8.4% for MWA against +26.3% for QQQ). Risk is not evenly split, since MWA carries 1.6 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.
MWA vs QQQ: side by side
| MWA (MUELLER WATER PRODUCTS) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -8.4% | +26.3% |
| 5-year return | +59.7% | +95.4% |
| Volatility (ann.) | 31.5% | 19.6% |
| Beta vs S&P 500 | 0.96 | 1.28 |
| Max drawdown (3Y) | -19.2% | -22.8% |
| Market cap | $3.9B | – |
| P/E (trailing) | 17.4 | – |
| Dividend yield | 1.10% | 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 | MWA | QQQ |
|---|---|---|
| 2022 | -23.8% | -32.6% |
| 2023 | +36.3% | +54.9% |
| 2024 | +58.4% | +25.6% |
| 2025 | +7.0% | +20.8% |
| 2026 | +4.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MWA and QQQ good diversifiers for each other?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MWA and QQQ?
Using weekly returns as of 2026-08-27: 0.35 over 3 years, with 0.12 over the last year and 0.44 over 5 years.
Is QQQ a good diversifier for MWA?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.35 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
$ curl https://www.pairbook.io/api/v1/pairs/mwa-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mwa-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MWA correlations · QQQ correlations
