NKTR vs QQQ: Correlation
How closely do Nektar Therapeutics (NKTR) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.29, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NKTR and QQQ?
Across a 3-year window, the weekly returns of NKTR and QQQ correlate at 0.29, weak. The link has loosened recently: the 1-year correlation (0.15) runs below the 3-year figure (0.29). Stretching to 5 years gives 0.22, with an annualized covariance of 877.5 %².
Among the 14 assets we track against NKTR, QQQ sits near the bottom by co-movement, at rank #11. Their recent paths diverged sharply: over the last 12 months NKTR outperformed by 128.3 percentage points (+154.6% for NKTR against +26.3% for QQQ). One caveat on sizing: NKTR is 7.8 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.
NKTR vs QQQ: side by side
| NKTR (Nektar Therapeutics) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +154.6% | +26.3% |
| 5-year return | -67.2% | +95.4% |
| Volatility (ann.) | 152.4% | 19.6% |
| Beta vs S&P 500 | 3.24 | 1.28 |
| Max drawdown (3Y) | -73.2% | -22.8% |
| Market cap | $2.5B | – |
| 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 | NKTR | QQQ |
|---|---|---|
| 2022 | -83.3% | -32.6% |
| 2023 | -75.2% | +54.9% |
| 2024 | +66.1% | +25.6% |
| 2025 | +203.1% | +20.8% |
| 2026 | +76.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NKTR and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.29 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NKTR and QQQ?
As of 2026-08-27, the correlation of weekly returns between NKTR and QQQ is 0.29 over 3 years, 0.15 over 1 year and 0.22 over 5 years.
Is QQQ a good diversifier for NKTR?
Yes, to a useful degree: a correlation of 0.29 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.29 mean?
A reading of 0.29 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/nktr-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nktr-vs-qqq/)
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Related comparisons
Hubs: NKTR correlations · QQQ correlations
