NKTX vs QQQ: Correlation
How closely do Nkarta, Inc. (NKTX) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.22, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NKTX and QQQ?
Across a 3-year window, the weekly returns of NKTX and QQQ correlate at 0.22, weak. The link has tightened recently: the 1-year correlation (0.48) runs above the 3-year figure (0.22). Stretching to 5 years gives 0.17, with an annualized covariance of 434.3 %².
Out of 11 assets tracked against NKTX, QQQ lands near the bottom at #8. Twelve-month performance is nearly a tie, at +22.8% for NKTX and +26.3% for QQQ. Risk is not evenly split, since NKTX carries 5.2 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.
NKTX vs QQQ: side by side
| NKTX (Nkarta, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +22.8% | +26.3% |
| 5-year return | -91.9% | +95.4% |
| Volatility (ann.) | 101.5% | 19.6% |
| Beta vs S&P 500 | 1.78 | 1.28 |
| Max drawdown (3Y) | -91.3% | -22.8% |
| Market cap | $0.2B | – |
| 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 | NKTX | QQQ |
|---|---|---|
| 2022 | -61.0% | -32.6% |
| 2023 | +10.2% | +54.9% |
| 2024 | -62.3% | +25.6% |
| 2025 | -25.7% | +20.8% |
| 2026 | +48.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NKTX and QQQ good diversifiers for each other?
A fair diversifier. At 0.22, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NKTX and QQQ?
As of 2026-08-27, the correlation of weekly returns between NKTX and QQQ is 0.22 over 3 years, 0.48 over 1 year and 0.17 over 5 years.
Is QQQ a good diversifier for NKTX?
A fair diversifier. At 0.22, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.22 mean?
On the −1 to +1 scale, 0.22 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nktx-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nktx-vs-qqq/)
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Related comparisons
Hubs: NKTX correlations · QQQ correlations
