CNTB vs QQQ: Correlation
Measured on weekly returns over the past three years, Connect Biopharma Holdings Limited (CNTB) and Invesco QQQ Trust (QQQ) 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 CNTB and QQQ?
Over the past 3 years, CNTB and QQQ moved with a correlation of -0.03, which is near zero, meaning they move largely independently. Lately the two have drifted apart, with the 1-year correlation at -0.25 versus -0.03 over 3 years. Over 5 years the correlation is 0.07, and the annualized covariance of weekly returns is -63.5 %².
Among the 10 assets we track against CNTB, QQQ sits near the bottom by co-movement, at rank #7. Their 12-month results are close: +28.1% for CNTB against +26.3% for QQQ. Risk is not evenly split, since CNTB carries 5.1 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.
CNTB vs QQQ: side by side
| CNTB (Connect Biopharma Holdings Limited) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +28.1% | +26.3% |
| 5-year return | -89.0% | +95.4% |
| Volatility (ann.) | 99.0% | 19.6% |
| Beta vs S&P 500 | -0.06 | 1.28 |
| Max drawdown (3Y) | -75.0% | -22.8% |
| Market cap | $0.1B | – |
| 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 | CNTB | QQQ |
|---|---|---|
| 2022 | -83.1% | -32.6% |
| 2023 | +35.9% | +54.9% |
| 2024 | +16.9% | +25.6% |
| 2025 | +104.3% | +20.8% |
| 2026 | -19.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNTB and QQQ good diversifiers for each other?
Yes: at -0.03, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CNTB and QQQ?
As of 2026-08-27, the correlation of weekly returns between CNTB and QQQ is -0.03 over 3 years, -0.25 over 1 year and 0.07 over 5 years.
Is QQQ a good diversifier for CNTB?
Yes: at -0.03, the two have gone their own ways historically, which is what genuine diversification looks like.
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: CNTB correlations · QQQ correlations
