ENTA vs QQQ: Correlation
Measured on weekly returns over the past three years, Enanta Pharmaceuticals, Inc. (ENTA) and Invesco QQQ Trust (QQQ) carry a correlation of 0.26, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ENTA and QQQ?
Over the past 3 years, ENTA and QQQ moved with a correlation of 0.26, which is weak. Little has changed lately, as the 1-year reading of 0.20 lands near the 3-year figure. Over 5 years the correlation is 0.25, and the annualized covariance of weekly returns is 365.8 %².
Out of 15 assets tracked against ENTA, QQQ lands near the bottom at #12. Their recent paths diverged sharply: over the last 12 months ENTA outperformed by 35.5 percentage points (+61.8% for ENTA against +26.3% for QQQ). One caveat on sizing: ENTA is 3.6 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.
ENTA vs QQQ: side by side
| ENTA (Enanta Pharmaceuticals, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +61.8% | +26.3% |
| 5-year return | -75.7% | +95.4% |
| Volatility (ann.) | 70.9% | 19.6% |
| Beta vs S&P 500 | 1.57 | 1.28 |
| Max drawdown (3Y) | -75.6% | -22.8% |
| Market cap | $0.4B | – |
| 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 | ENTA | QQQ |
|---|---|---|
| 2022 | -37.8% | -32.6% |
| 2023 | -79.8% | +54.9% |
| 2024 | -38.9% | +25.6% |
| 2025 | +174.3% | +20.8% |
| 2026 | -12.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENTA and QQQ good diversifiers for each other?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ENTA and QQQ?
As of 2026-08-27, the correlation of weekly returns between ENTA and QQQ is 0.26 over 3 years, 0.20 over 1 year and 0.25 over 5 years.
Is QQQ a good diversifier for ENTA?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.26 mean?
On the −1 to +1 scale, 0.26 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/enta-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/enta-vs-qqq/)
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Related comparisons
Hubs: ENTA correlations · QQQ correlations
