NUVB vs QQQ: Correlation
Nuvation Bio Inc. (NUVB) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NUVB and QQQ?
On 3 years of weekly data the NUVB/QQQ correlation comes out at 0.26, weak. The link has loosened recently: the 1-year correlation (0.12) runs below the 3-year figure (0.26). The 5-year figure is 0.26, and annualized covariance runs at 438.5 %².
Among the 13 assets we track against NUVB, QQQ sits near the bottom by co-movement, at rank #10. Correlation aside, the last 12 months split them widely, with NUVB ahead by 110.6 points (+136.9% versus +26.3%). Note the risk asymmetry: NUVB runs 4.5 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.
NUVB vs QQQ: side by side
| NUVB (Nuvation Bio Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +136.9% | +26.3% |
| 5-year return | -25.8% | +95.4% |
| Volatility (ann.) | 87.3% | 19.6% |
| Beta vs S&P 500 | 1.90 | 1.28 |
| Max drawdown (3Y) | -58.2% | -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 | NUVB | QQQ |
|---|---|---|
| 2022 | -77.4% | -32.6% |
| 2023 | -21.4% | +54.9% |
| 2024 | +76.2% | +25.6% |
| 2025 | +236.8% | +20.8% |
| 2026 | -22.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NUVB and QQQ good diversifiers for each other?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NUVB and QQQ?
The NUVB/QQQ correlation stands at 0.26 on a 3-year window (1 year: 0.12, 5 years: 0.26), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for NUVB?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.26 mean?
On the −1 to +1 scale, 0.26 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
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Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nuvb-vs-qqq/)
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Related comparisons
Hubs: NUVB correlations · QQQ correlations
