NXGL vs QQQ: Correlation
How closely do NexGel, Inc (NXGL) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.21, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NXGL and QQQ?
Over the past 3 years, NXGL and QQQ moved with a correlation of 0.21, which is weak. The relationship has been stable: the 1-year correlation (0.29) sits close to the 3-year figure. Over 5 years the correlation is 0.19, and the annualized covariance of weekly returns is 320.7 %².
Out of 11 assets tracked against NXGL, QQQ lands near the bottom at #7. The last year tells two different stories: QQQ led by 111.3 percentage points, -85.0% for NXGL against +26.3% for QQQ. Note the risk asymmetry: NXGL runs 4.1 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.
NXGL vs QQQ: side by side
| NXGL (NexGel, Inc) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -85.0% | +26.3% |
| 5-year return | -90.1% | +95.4% |
| Volatility (ann.) | 79.8% | 19.6% |
| Beta vs S&P 500 | 1.14 | 1.28 |
| Max drawdown (3Y) | -93.3% | -22.8% |
| Market cap | – | – |
| 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 | NXGL | QQQ |
|---|---|---|
| 2022 | -52.1% | -32.6% |
| 2023 | +70.4% | +54.9% |
| 2024 | +109.4% | +25.6% |
| 2025 | -63.9% | +20.8% |
| 2026 | -78.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NXGL and QQQ good diversifiers for each other?
Reasonably. At 0.21, NXGL and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NXGL and QQQ?
As of 2026-08-27, the correlation of weekly returns between NXGL and QQQ is 0.21 over 3 years, 0.29 over 1 year and 0.19 over 5 years.
Is QQQ a good diversifier for NXGL?
Reasonably. At 0.21, NXGL and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.21 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.
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Related comparisons
Hubs: NXGL correlations · QQQ correlations
