PTGX vs QQQ: Correlation
Protagonist Therapeutics, Inc. (PTGX) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.12.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PTGX and QQQ?
Across a 3-year window, the weekly returns of PTGX and QQQ correlate at 0.12, weak. The link has loosened recently: the 1-year correlation (-0.13) runs below the 3-year figure (0.12). Stretching to 5 years gives 0.19, with an annualized covariance of 125.4 %².
QQQ is close to the least connected end of PTGX's tracked universe, ranking #8 of 11. Correlation aside, the last 12 months split them widely, with PTGX ahead by 117.1 points (+143.4% versus +26.3%). Note the risk asymmetry: PTGX runs 2.7 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.
PTGX vs QQQ: side by side
| PTGX (Protagonist Therapeutics, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +143.4% | +26.3% |
| 5-year return | +219.7% | +95.4% |
| Volatility (ann.) | 53.0% | 19.6% |
| Beta vs S&P 500 | 0.49 | 1.28 |
| Max drawdown (3Y) | -31.6% | -22.8% |
| Market cap | $9.7B | – |
| P/E (trailing) | 145.1 | – |
| 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 | PTGX | QQQ |
|---|---|---|
| 2022 | -68.1% | -32.6% |
| 2023 | +110.2% | +54.9% |
| 2024 | +68.3% | +25.6% |
| 2025 | +126.3% | +20.8% |
| 2026 | +71.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PTGX and QQQ good diversifiers for each other?
Yes: at 0.12, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PTGX and QQQ?
The PTGX/QQQ correlation stands at 0.12 on a 3-year window (1 year: -0.13, 5 years: 0.19), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for PTGX?
Yes: at 0.12, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.12 mean?
On the −1 to +1 scale, 0.12 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/ptgx-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ptgx-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PTGX correlations · QQQ correlations
