IMTX vs QQQ: Correlation
Immatics N.V. (IMTX) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IMTX and QQQ?
On 3 years of weekly data the IMTX/QQQ correlation comes out at 0.39, moderate. The relationship has been stable: the 1-year correlation (0.31) sits close to the 3-year figure. The 5-year figure is 0.31, and annualized covariance runs at 440.7 %².
QQQ is close to the least connected end of IMTX's tracked universe, ranking #9 of 12. The last year tells two different stories: IMTX led by 47.0 percentage points, +73.3% for IMTX against +26.3% for QQQ. Note the risk asymmetry: IMTX runs 3.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
IMTX vs QQQ: side by side
| IMTX (Immatics N.V.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +73.3% | +26.3% |
| 5-year return | -25.9% | +95.4% |
| Volatility (ann.) | 57.9% | 19.6% |
| Beta vs S&P 500 | 1.62 | 1.28 |
| Max drawdown (3Y) | -74.1% | -22.8% |
| Market cap | $1.4B | – |
| 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 | IMTX | QQQ |
|---|---|---|
| 2022 | -35.2% | -32.6% |
| 2023 | +20.9% | +54.9% |
| 2024 | -32.5% | +25.6% |
| 2025 | +47.7% | +20.8% |
| 2026 | -10.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IMTX and QQQ good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between IMTX and QQQ?
Using weekly returns as of 2026-08-27: 0.39 over 3 years, with 0.31 over the last year and 0.31 over 5 years.
Is QQQ a good diversifier for IMTX?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/imtx-vs-qqq.json
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[](https://www.pairbook.io/pair/imtx-vs-qqq/)
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Related comparisons
Hubs: IMTX correlations · QQQ correlations
