NMG vs QQQ: Correlation
Nouveau Monde Graphite Inc. (NMG) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NMG and QQQ?
Across a 3-year window, the weekly returns of NMG and QQQ correlate at 0.24, weak. The past 12 months show a tighter link (0.38) than the 3-year average (0.24). Stretching to 5 years gives 0.24, with an annualized covariance of 342.6 %².
Out of 11 assets tracked against NMG, QQQ lands near the bottom at #7. Correlation aside, the last 12 months split them widely, with QQQ ahead by 48.1 points (-21.8% versus +26.3%). Risk is not evenly split, since NMG carries 3.7 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.
NMG vs QQQ: side by side
| NMG (Nouveau Monde Graphite Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -21.8% | +26.3% |
| 5-year return | -77.4% | +95.4% |
| Volatility (ann.) | 72.8% | 19.6% |
| Beta vs S&P 500 | 1.20 | 1.28 |
| Max drawdown (3Y) | -75.1% | -22.8% |
| Market cap | $0.5B | – |
| 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 | NMG | QQQ |
|---|---|---|
| 2022 | -45.4% | -32.6% |
| 2023 | -31.7% | +54.9% |
| 2024 | -39.1% | +25.6% |
| 2025 | +56.0% | +20.8% |
| 2026 | -39.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NMG and QQQ good diversifiers for each other?
A fair diversifier. At 0.24, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NMG and QQQ?
As of 2026-08-27, the correlation of weekly returns between NMG and QQQ is 0.24 over 3 years, 0.38 over 1 year and 0.24 over 5 years.
Is QQQ a good diversifier for NMG?
A fair diversifier. At 0.24, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.24 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/nmg-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nmg-vs-qqq/)
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Related comparisons
Hubs: NMG correlations · QQQ correlations
