NXTC vs QQQ: Correlation
Measured on weekly returns over the past three years, NextCure, Inc. (NXTC) and Invesco QQQ Trust (QQQ) carry a correlation of 0.06, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NXTC and QQQ?
Across a 3-year window, the weekly returns of NXTC and QQQ correlate at 0.06, near zero, meaning they move largely independently. Recent behaviour matches the longer record: 0.02 over 1 year against 0.06 over 3. Stretching to 5 years gives 0.09, with an annualized covariance of 172.5 %².
Among the 18 assets we track against NXTC, QQQ ranks #8 by 3-year correlation. Over the last 12 months QQQ came out ahead by 11.0 percentage points (+15.3% against +26.3%). Risk is not evenly split, since NXTC carries 8.2 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.
NXTC vs QQQ: side by side
| NXTC (NextCure, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +15.3% | +26.3% |
| 5-year return | -93.2% | +95.4% |
| Volatility (ann.) | 160.1% | 19.6% |
| Beta vs S&P 500 | 1.18 | 1.28 |
| Max drawdown (3Y) | -94.6% | -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 | NXTC | QQQ |
|---|---|---|
| 2022 | -76.5% | -32.6% |
| 2023 | -19.1% | +54.9% |
| 2024 | -32.4% | +25.6% |
| 2025 | +53.4% | +20.8% |
| 2026 | -57.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NXTC and QQQ good diversifiers for each other?
Yes. With a correlation of 0.06, NXTC and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NXTC and QQQ?
The NXTC/QQQ correlation stands at 0.06 on a 3-year window (1 year: 0.02, 5 years: 0.09), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for NXTC?
Yes. With a correlation of 0.06, NXTC and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.06 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: NXTC correlations · QQQ correlations
