QNCX vs QQQ: Correlation
Measured on weekly returns over the past three years, Quince Therapeutics, Inc. (QNCX) and Invesco QQQ Trust (QQQ) carry a correlation of 0.07, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QNCX and QQQ?
Over the past 3 years, QNCX and QQQ moved with a correlation of 0.07, which is near zero, meaning they move largely independently. The link has tightened recently: the 1-year correlation (0.20) runs above the 3-year figure (0.07). Over 5 years the correlation is 0.12, and the annualized covariance of weekly returns is 155.1 %².
Among the 17 assets we track against QNCX, QQQ ranks #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 115.9 points (-89.6% versus +26.3%). Note the risk asymmetry: QNCX runs 5.7 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.
QNCX vs QQQ: side by side
| QNCX (Quince Therapeutics, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -89.6% | +26.3% |
| 5-year return | -99.8% | +95.4% |
| Volatility (ann.) | 111.4% | 19.6% |
| Beta vs S&P 500 | 0.55 | 1.28 |
| Max drawdown (3Y) | -98.2% | -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 | QNCX | QQQ |
|---|---|---|
| 2022 | -95.0% | -32.6% |
| 2023 | +64.8% | +54.9% |
| 2024 | +78.1% | +25.6% |
| 2025 | +79.1% | +20.8% |
| 2026 | -95.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QNCX and QQQ good diversifiers for each other?
Yes. With a correlation of 0.07, QNCX and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between QNCX and QQQ?
As of 2026-08-27, the correlation of weekly returns between QNCX and QQQ is 0.07 over 3 years, 0.20 over 1 year and 0.12 over 5 years.
Is QQQ a good diversifier for QNCX?
Yes. With a correlation of 0.07, QNCX and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.07 mean?
A reading of 0.07 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: QNCX correlations · QQQ correlations
