MWG vs QQQ: Correlation
How closely do Multi Ways Holdings Limited Class A (MWG) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.05, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MWG and QQQ?
Across a 3-year window, the weekly returns of MWG and QQQ correlate at 0.05, near zero, meaning they move largely independently. The past 12 months show a tighter link (0.18) than the 3-year average (0.05). Stretching to 5 years gives n/a, with an annualized covariance of 77.8 %².
QQQ is close to the least connected end of MWG's tracked universe, ranking #7 of 10. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 72.9 percentage points (-46.6% for MWG against +26.3% for QQQ). Note the risk asymmetry: MWG runs 4.4 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
MWG vs QQQ: side by side
| MWG (Multi Ways Holdings Limited Class A) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -46.6% | +26.3% |
| 5-year return | n/a | +95.4% |
| Volatility (ann.) | 87.1% | 19.6% |
| Beta vs S&P 500 | 0.47 | 1.28 |
| Max drawdown (3Y) | -81.5% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| 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 | MWG | QQQ |
|---|---|---|
| 2022 | – | -32.6% |
| 2023 | – | +54.9% |
| 2024 | +26.2% | +25.6% |
| 2025 | -6.3% | +20.8% |
| 2026 | -52.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MWG and QQQ good diversifiers for each other?
Yes: at 0.05, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MWG and QQQ?
The MWG/QQQ correlation stands at 0.05 on a 3-year window (1 year: 0.18, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for MWG?
Yes: at 0.05, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.05 mean?
On the −1 to +1 scale, 0.05 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
$ curl https://www.pairbook.io/api/v1/pairs/mwg-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mwg-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MWG correlations · QQQ correlations
