FATE vs QQQ: Correlation
How closely do Fate Therapeutics, Inc. (FATE) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.32, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FATE and QQQ?
Over the past 3 years, FATE and QQQ moved with a correlation of 0.32, which is moderate. The relationship has been stable: the 1-year correlation (0.40) sits close to the 3-year figure. Over 5 years the correlation is 0.40, and the annualized covariance of weekly returns is 703.7 %².
QQQ is close to the least connected end of FATE's tracked universe, ranking #18 of 21. Their recent paths diverged sharply: over the last 12 months FATE outperformed by 100.5 percentage points (+126.8% for FATE against +26.3% for QQQ). Risk is not evenly split, since FATE carries 5.7 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.
FATE vs QQQ: side by side
| FATE (Fate Therapeutics, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +126.8% | +26.3% |
| 5-year return | -96.5% | +95.4% |
| Volatility (ann.) | 110.8% | 19.6% |
| Beta vs S&P 500 | 2.88 | 1.28 |
| Max drawdown (3Y) | -91.9% | -22.8% |
| Market cap | $0.3B | – |
| 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 | FATE | QQQ |
|---|---|---|
| 2022 | -82.8% | -32.6% |
| 2023 | -62.9% | +54.9% |
| 2024 | -55.9% | +25.6% |
| 2025 | -40.6% | +20.8% |
| 2026 | +159.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FATE and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FATE and QQQ?
As of 2026-08-27, the correlation of weekly returns between FATE and QQQ is 0.32 over 3 years, 0.40 over 1 year and 0.40 over 5 years.
Is QQQ a good diversifier for FATE?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.32 mean?
A reading of 0.32 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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[](https://www.pairbook.io/pair/fate-vs-qqq/)
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Related comparisons
Hubs: FATE correlations · QQQ correlations
