CHRS vs QQQ: Correlation
How closely do Coherus Oncology, Inc. (CHRS) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.17, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHRS and QQQ?
Over the past 3 years, CHRS and QQQ moved with a correlation of 0.17, which is weak. The relationship has been stable: the 1-year correlation (0.24) sits close to the 3-year figure. Over 5 years the correlation is 0.21, and the annualized covariance of weekly returns is 339.3 %².
QQQ is close to the least connected end of CHRS's tracked universe, ranking #10 of 13. Their 12-month results are close: +28.1% for CHRS against +26.3% for QQQ. Risk is not evenly split, since CHRS carries 5.2 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.
CHRS vs QQQ: side by side
| CHRS (Coherus Oncology, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +28.1% | +26.3% |
| 5-year return | -90.8% | +95.4% |
| Volatility (ann.) | 102.6% | 19.6% |
| Beta vs S&P 500 | 1.59 | 1.28 |
| Max drawdown (3Y) | -87.7% | -22.8% |
| Market cap | $0.2B | – |
| 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 | CHRS | QQQ |
|---|---|---|
| 2022 | -50.4% | -32.6% |
| 2023 | -58.0% | +54.9% |
| 2024 | -58.6% | +25.6% |
| 2025 | +2.9% | +20.8% |
| 2026 | +2.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHRS and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between CHRS and QQQ?
The CHRS/QQQ correlation stands at 0.17 on a 3-year window (1 year: 0.24, 5 years: 0.21), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for CHRS?
By historical standards, yes. A correlation of 0.17 means the two rarely move for the same reasons.
What does a correlation of 0.17 mean?
On the −1 to +1 scale, 0.17 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.
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Related comparisons
Hubs: CHRS correlations · QQQ correlations
