INCY vs QQQ: Correlation
How closely do Incyte (INCY) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.11, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INCY and QQQ?
Across a 3-year window, the weekly returns of INCY and QQQ correlate at 0.11, weak. The link has loosened recently: the 1-year correlation (-0.08) runs below the 3-year figure (0.11). Stretching to 5 years gives 0.16, with an annualized covariance of 69.9 %².
Among the 35 assets we track against INCY, QQQ ranks #25 by 3-year correlation. The last year tells two different stories: INCY led by 24.3 percentage points, +50.6% for INCY against +26.3% for QQQ. Across three years, the rolling one-year figure varied moderately, from -0.06 to 0.42. Note the risk asymmetry: INCY runs 1.7 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.
INCY vs QQQ: side by side
| INCY (Incyte) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +50.6% | +26.3% |
| 5-year return | +68.0% | +95.4% |
| Volatility (ann.) | 33.1% | 19.6% |
| Beta vs S&P 500 | 0.45 | 1.28 |
| Max drawdown (3Y) | -33.8% | -22.8% |
| Market cap | $25.9B | – |
| P/E (trailing) | 16.3 | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Health Care | 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 | INCY | QQQ |
|---|---|---|
| 2022 | +9.4% | -32.6% |
| 2023 | -21.8% | +54.9% |
| 2024 | +10.0% | +25.6% |
| 2025 | +43.0% | +20.8% |
| 2026 | +29.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INCY and QQQ good diversifiers for each other?
Yes: at 0.11, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between INCY and QQQ?
The INCY/QQQ correlation stands at 0.11 on a 3-year window (1 year: -0.08, 5 years: 0.16), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for INCY?
Yes: at 0.11, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.11 mean?
A reading of 0.11 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: INCY correlations · QQQ correlations
