MXF vs QQQ: Correlation
Mexico Fund, Inc. (The) (MXF) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MXF and QQQ?
Across a 3-year window, the weekly returns of MXF and QQQ correlate at 0.40, moderate. Recent behaviour matches the longer record: 0.40 over 1 year against 0.40 over 3. Stretching to 5 years gives 0.41, with an annualized covariance of 165.4 %².
Among the 18 assets we track against MXF, QQQ ranks #13 by 3-year correlation. Their 12-month results are close: +29.5% for MXF against +26.3% for QQQ.
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.
MXF vs QQQ: side by side
| MXF (Mexico Fund, Inc. (The)) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +29.5% | +26.3% |
| 5-year return | +82.1% | +95.4% |
| Volatility (ann.) | 21.3% | 19.6% |
| Beta vs S&P 500 | 0.67 | 1.28 |
| Max drawdown (3Y) | -30.7% | -22.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | 3.4 | – |
| Dividend yield | 5.43% | 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 | MXF | QQQ |
|---|---|---|
| 2022 | -1.7% | -32.6% |
| 2023 | +35.8% | +54.9% |
| 2024 | -27.1% | +25.6% |
| 2025 | +61.9% | +20.8% |
| 2026 | +14.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MXF and QQQ good diversifiers for each other?
Reasonably. At 0.40, MXF and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MXF and QQQ?
As of 2026-08-27, the correlation of weekly returns between MXF and QQQ is 0.40 over 3 years, 0.40 over 1 year and 0.41 over 5 years.
Is QQQ a good diversifier for MXF?
Reasonably. At 0.40, MXF and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 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: MXF correlations · QQQ correlations
