MYFW vs QQQ: Correlation
How closely do First Western Financial, Inc. (MYFW) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MYFW and QQQ?
On 3 years of weekly data the MYFW/QQQ correlation comes out at 0.37, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.26 versus 0.37 over 3 years. The 5-year figure is 0.30, and annualized covariance runs at 248.8 %².
QQQ is close to the least connected end of MYFW's tracked universe, ranking #9 of 12. On 12-month performance MYFW holds a 6.8-point edge, +33.1% against +26.3%. Note the risk asymmetry: MYFW runs 1.8 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.
MYFW vs QQQ: side by side
| MYFW (First Western Financial, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +33.1% | +26.3% |
| 5-year return | +13.7% | +95.4% |
| Volatility (ann.) | 34.7% | 19.6% |
| Beta vs S&P 500 | 1.08 | 1.28 |
| Max drawdown (3Y) | -37.4% | -22.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | 16.5 | – |
| 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 | MYFW | QQQ |
|---|---|---|
| 2022 | -7.3% | -32.6% |
| 2023 | -29.6% | +54.9% |
| 2024 | -1.4% | +25.6% |
| 2025 | +37.1% | +20.8% |
| 2026 | +15.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MYFW and QQQ good diversifiers for each other?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MYFW and QQQ?
As of 2026-08-27, the correlation of weekly returns between MYFW and QQQ is 0.37 over 3 years, 0.26 over 1 year and 0.30 over 5 years.
Is QQQ a good diversifier for MYFW?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 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/myfw-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/myfw-vs-qqq/)
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Related comparisons
Hubs: MYFW correlations · QQQ correlations
