MX vs QQQ: Correlation
Magnachip Semiconductor Corporation (MX) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MX and QQQ?
Across a 3-year window, the weekly returns of MX and QQQ correlate at 0.38, moderate. Little has changed lately, as the 1-year reading of 0.46 lands near the 3-year figure. Stretching to 5 years gives 0.32, with an annualized covariance of 595.5 %².
By 3-year correlation, QQQ places #7 of the 16 assets tracked against MX. Correlation aside, the last 12 months split them widely, with QQQ ahead by 24.1 points (+2.2% versus +26.3%). Note the risk asymmetry: MX runs 4.1 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.
MX vs QQQ: side by side
| MX (Magnachip Semiconductor Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +2.2% | +26.3% |
| 5-year return | -81.9% | +95.4% |
| Volatility (ann.) | 79.4% | 19.6% |
| Beta vs S&P 500 | 1.88 | 1.28 |
| Max drawdown (3Y) | -73.5% | -22.8% |
| Market cap | $0.1B | – |
| 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 | MX | QQQ |
|---|---|---|
| 2022 | -55.2% | -32.6% |
| 2023 | -20.1% | +54.9% |
| 2024 | -46.4% | +25.6% |
| 2025 | -36.6% | +20.8% |
| 2026 | +27.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MX and QQQ good diversifiers for each other?
Reasonably. At 0.38, MX and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MX and QQQ?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.46 over the last year and 0.32 over 5 years.
Is QQQ a good diversifier for MX?
Reasonably. At 0.38, MX and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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/mx-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mx-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MX correlations · QQQ correlations
