HOWL vs QQQ: Correlation
Werewolf Therapeutics, Inc. (HOWL) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.10.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HOWL and QQQ?
On 3 years of weekly data the HOWL/QQQ correlation comes out at 0.10, weak. Lately the two have drifted apart, with the 1-year correlation at -0.01 versus 0.10 over 3 years. The 5-year figure is 0.14, and annualized covariance runs at 239.5 %².
QQQ is close to the least connected end of HOWL's tracked universe, ranking #7 of 10. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 53.3 percentage points (-27.0% for HOWL against +26.3% for QQQ). Risk is not evenly split, since HOWL carries 6.3 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.
HOWL vs QQQ: side by side
| HOWL (Werewolf Therapeutics, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -27.0% | +26.3% |
| 5-year return | -94.4% | +95.4% |
| Volatility (ann.) | 124.1% | 19.6% |
| Beta vs S&P 500 | 1.39 | 1.28 |
| Max drawdown (3Y) | -96.1% | -22.8% |
| Market cap | – | – |
| 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 | HOWL | QQQ |
|---|---|---|
| 2022 | -82.8% | -32.6% |
| 2023 | +88.3% | +54.9% |
| 2024 | -61.7% | +25.6% |
| 2025 | -57.2% | +20.8% |
| 2026 | +53.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HOWL and QQQ good diversifiers for each other?
Yes: at 0.10, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between HOWL and QQQ?
Using weekly returns as of 2026-08-27: 0.10 over 3 years, with -0.01 over the last year and 0.14 over 5 years.
Is QQQ a good diversifier for HOWL?
Yes: at 0.10, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.10 mean?
A reading of 0.10 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
$ curl https://www.pairbook.io/api/v1/pairs/howl-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/howl-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HOWL correlations · QQQ correlations
