QNCX vs TCPC: Correlation
Measured on weekly returns over the past three years, Quince Therapeutics, Inc. (QNCX) and BlackRock TCP Capital Corp. - Closed End Fund (TCPC) carry a correlation of 0.32, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QNCX and TCPC?
Over the past 3 years, QNCX and TCPC moved with a correlation of 0.32, which is moderate. The link has tightened recently: the 1-year correlation (0.45) runs above the 3-year figure (0.32). Over 5 years the correlation is 0.24, and the annualized covariance of weekly returns is 1162.8 %².
Few assets follow QNCX as closely as TCPC, which ranks #2 of 17 tracked partners. Their recent paths diverged sharply: over the last 12 months TCPC outperformed by 58.9 percentage points (-89.6% for QNCX against -30.7% for TCPC). One caveat on sizing: QNCX is 3.4 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 TCPC: side by side
| QNCX (Quince Therapeutics, Inc.) | TCPC (BlackRock TCP Capital Corp. - Closed End Fund) | |
|---|---|---|
| 1-year return | -89.6% | -30.7% |
| 5-year return | -99.8% | -42.1% |
| Volatility (ann.) | 111.4% | 33.1% |
| Beta vs S&P 500 | 0.55 | 0.94 |
| Max drawdown (3Y) | -98.2% | -60.8% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 20.34% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | QNCX | TCPC |
|---|---|---|
| 2022 | -95.0% | +5.6% |
| 2023 | +64.8% | +3.2% |
| 2024 | +78.1% | -12.3% |
| 2025 | +79.1% | -26.2% |
| 2026 | -95.1% | -16.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QNCX and TCPC good diversifiers for each other?
Reasonably. At 0.32, QNCX and TCPC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QNCX and TCPC?
The QNCX/TCPC correlation stands at 0.32 on a 3-year window (1 year: 0.45, 5 years: 0.24), computed from weekly returns as of 2026-08-27.
Is TCPC a good diversifier for QNCX?
Reasonably. At 0.32, QNCX and TCPC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.32 mean?
A reading of 0.32 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 · TCPC correlations
