QQQ vs SMMT: Correlation
How closely do Invesco QQQ Trust (QQQ) and Summit Therapeutics Inc. (SMMT) trade together? Their weekly returns over three years give a correlation of 0.20, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SMMT?
Over the past 3 years, QQQ and SMMT moved with a correlation of 0.20, which is weak. The link has tightened recently: the 1-year correlation (0.38) runs above the 3-year figure (0.20). Over 5 years the correlation is 0.04, and the annualized covariance of weekly returns is 599.1 %².
Among the 4755 assets we track against QQQ, SMMT ranks #2857 by 3-year correlation. The last year tells two different stories: QQQ led by 68.5 percentage points, +26.3% for QQQ against -42.2% for SMMT. Risk is not evenly split, since SMMT carries 7.7 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.
QQQ vs SMMT: side by side
| QQQ (Invesco QQQ Trust) | SMMT (Summit Therapeutics Inc.) | |
|---|---|---|
| 1-year return | +26.3% | -42.2% |
| 5-year return | +95.4% | +78.5% |
| Volatility (ann.) | 19.6% | 150.4% |
| Beta vs S&P 500 | 1.28 | 2.43 |
| Max drawdown (3Y) | -22.8% | -66.1% |
| Market cap | – | $11.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.44% | 0.00% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | US Listed |
QQQ, Invesco's Large Growth fund, carries $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | QQQ | SMMT |
|---|---|---|
| 2022 | -32.6% | +58.0% |
| 2023 | +54.9% | -38.6% |
| 2024 | +25.6% | +583.7% |
| 2025 | +20.8% | -2.0% |
| 2026 | +17.7% | -18.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SMMT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.20 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between QQQ and SMMT?
Using weekly returns as of 2026-08-27: 0.20 over 3 years, with 0.38 over the last year and 0.04 over 5 years.
Is SMMT a good diversifier for QQQ?
Yes, to a useful degree: a correlation of 0.20 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.20 mean?
On the −1 to +1 scale, 0.20 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/qqq-vs-smmt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/qqq-vs-smmt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: QQQ correlations · SMMT correlations
