QQQ vs TUSK: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Mammoth Energy Services, Inc. (TUSK) carry a correlation of 0.03, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and TUSK?
On 3 years of weekly data the QQQ/TUSK correlation comes out at 0.03, near zero, meaning they move largely independently. Little has changed lately, as the 1-year reading of 0.03 lands near the 3-year figure. The 5-year figure is 0.11, and annualized covariance runs at 38.8 %².
By 3-year correlation, TUSK places #4344 of the 4755 assets tracked against QQQ. The trailing year gives TUSK the advantage: +26.3% versus +35.2%, a 8.9-point spread. One caveat on sizing: TUSK is 3.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
QQQ vs TUSK: side by side
| QQQ (Invesco QQQ Trust) | TUSK (Mammoth Energy Services, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +35.2% |
| 5-year return | +95.4% | -7.4% |
| Volatility (ann.) | 19.6% | 61.8% |
| Beta vs S&P 500 | 1.28 | 0.49 |
| Max drawdown (3Y) | -22.8% | -66.3% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.44% | 0.00% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | US Listed |
QQQ, Invesco's Large Growth fund, carries $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | QQQ | TUSK |
|---|---|---|
| 2022 | -32.6% | +375.3% |
| 2023 | +54.9% | -48.4% |
| 2024 | +25.6% | -32.7% |
| 2025 | +20.8% | -38.3% |
| 2026 | +17.7% | +70.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and TUSK good diversifiers for each other?
By historical standards, yes. A correlation of 0.03 means the two rarely move for the same reasons.
FAQ
What is the correlation between QQQ and TUSK?
Using weekly returns as of 2026-08-27: 0.03 over 3 years, with 0.03 over the last year and 0.11 over 5 years.
Is TUSK a good diversifier for QQQ?
By historical standards, yes. A correlation of 0.03 means the two rarely move for the same reasons.
What does a correlation of 0.03 mean?
A reading of 0.03 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: QQQ correlations · TUSK correlations
