We show that a variety of nonequilibrium dynamics of interacting many-body systems are universally characterized by an elegant relation, which we call the dynamic virial theorem. The out-of-equilibrium dynamics of quantum correlations is entirely governed by Tan' s contact. It gives rise to a series of observable consequences and is closely related to experiments with ultracold atoms. In particular, we show that the dynamic virial theorem provides an experimentally accessible verification of the maximum energy growth theorem [R. Qi et al., Phys. Rev. Lett. 126, 240401 (2021)], which is encoded in the evolution of the atomic cloud size during expansion. In addition, the dynamic virial theorem leads to a simple thermodynamic relation of strongly interacting quantum gases in the framework of two-fluid hydrodynamic theory, which holds in a wide range of temperature. This thermodynamic relation is a type of out-of-equilibrium analog of Tan's pressure relation at equilibrium. Our results provide a fundamental understanding of the generic behaviors of interacting many-body systems at nonequilibrium and are readily examined in experiments with ultracold atoms.