QNTM vs QQQ: Correlation
How closely do Quantum Biopharma Ltd. - Class B Subordinate Voting Shares (QNTM) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.06, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QNTM and QQQ?
Over the past 3 years, QNTM and QQQ moved with a correlation of 0.06, which is near zero, meaning they move largely independently. Recent behaviour matches the longer record: 0.12 over 1 year against 0.06 over 3. Over 5 years the correlation is 0.08, and the annualized covariance of weekly returns is 285.4 %².
Among the 14 assets we track against QNTM, QQQ ranks #9 by 3-year correlation. The last year tells two different stories: QQQ led by 107.6 percentage points, -81.3% for QNTM against +26.3% for QQQ. One caveat on sizing: QNTM is 11.8 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.
QNTM vs QQQ: side by side
| QNTM (Quantum Biopharma Ltd. - Class B Subordinate Voting Shares) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -81.3% | +26.3% |
| 5-year return | -97.4% | +95.4% |
| Volatility (ann.) | 230.6% | 19.6% |
| Beta vs S&P 500 | 0.93 | 1.28 |
| Max drawdown (3Y) | -98.0% | -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 | QNTM | QQQ |
|---|---|---|
| 2022 | -22.7% | -32.6% |
| 2023 | +16.8% | +54.9% |
| 2024 | -93.8% | +25.6% |
| 2025 | +98.4% | +20.8% |
| 2026 | -57.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QNTM and QQQ good diversifiers for each other?
Yes. With a correlation of 0.06, QNTM and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between QNTM and QQQ?
The QNTM/QQQ correlation stands at 0.06 on a 3-year window (1 year: 0.12, 5 years: 0.08), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for QNTM?
Yes. With a correlation of 0.06, QNTM 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: QNTM correlations · QQQ correlations
