CGEM vs QQQ: Correlation
Measured on weekly returns over the past three years, Cullinan Therapeutics, Inc. (CGEM) and Invesco QQQ Trust (QQQ) carry a correlation of 0.21, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CGEM and QQQ?
Over the past 3 years, CGEM and QQQ moved with a correlation of 0.21, which is weak. Little has changed lately, as the 1-year reading of 0.16 lands near the 3-year figure. Over 5 years the correlation is 0.20, and the annualized covariance of weekly returns is 300.4 %².
QQQ is close to the least connected end of CGEM's tracked universe, ranking #10 of 13. Their recent paths diverged sharply: over the last 12 months CGEM outperformed by 158.7 percentage points (+185.0% for CGEM against +26.3% for QQQ). One caveat on sizing: CGEM is 3.7 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.
CGEM vs QQQ: side by side
| CGEM (Cullinan Therapeutics, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +185.0% | +26.3% |
| 5-year return | -23.5% | +95.4% |
| Volatility (ann.) | 72.4% | 19.6% |
| Beta vs S&P 500 | 1.20 | 1.28 |
| Max drawdown (3Y) | -80.4% | -22.8% |
| Market cap | $1.4B | – |
| 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 | CGEM | QQQ |
|---|---|---|
| 2022 | -31.6% | -32.6% |
| 2023 | -3.4% | +54.9% |
| 2024 | +19.5% | +25.6% |
| 2025 | -15.0% | +20.8% |
| 2026 | +118.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CGEM and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.21 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CGEM and QQQ?
As of 2026-08-27, the correlation of weekly returns between CGEM and QQQ is 0.21 over 3 years, 0.16 over 1 year and 0.20 over 5 years.
Is QQQ a good diversifier for CGEM?
Yes, to a useful degree: a correlation of 0.21 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.21 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/cgem-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cgem-vs-qqq/)
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Related comparisons
Hubs: CGEM correlations · QQQ correlations
