QQQ vs TCRT: Correlation
How closely do Invesco QQQ Trust (QQQ) and Alaunos Therapeutics, Inc. (TCRT) trade together? Their weekly returns over three years give a correlation of -0.09, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and TCRT?
Over the past 3 years, QQQ and TCRT moved with a correlation of -0.09, which is near zero, meaning they move largely independently. The past 12 months show a tighter link (0.04) than the 3-year average (-0.09). Over 5 years the correlation is -0.00, and the annualized covariance of weekly returns is -217.7 %².
Within QQQ's tracked universe of 4755 assets, TCRT comes in at #4711 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 38.5 points (+26.3% versus -12.2%). Note the risk asymmetry: TCRT runs 6.2 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.
QQQ vs TCRT: side by side
| QQQ (Invesco QQQ Trust) | TCRT (Alaunos Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | -12.2% |
| 5-year return | +95.4% | -99.3% |
| Volatility (ann.) | 19.6% | 121.9% |
| Beta vs S&P 500 | 1.28 | -1.11 |
| Max drawdown (3Y) | -22.8% | -95.0% |
| Market cap | – | – |
| 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 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 | QQQ | TCRT |
|---|---|---|
| 2022 | -32.6% | -40.4% |
| 2023 | +54.9% | -89.2% |
| 2024 | +25.6% | -81.8% |
| 2025 | +20.8% | +69.1% |
| 2026 | +17.7% | -48.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and TCRT good diversifiers for each other?
Yes. With a correlation of -0.09, QQQ and TCRT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between QQQ and TCRT?
The QQQ/TCRT correlation stands at -0.09 on a 3-year window (1 year: 0.04, 5 years: -0.00), computed from weekly returns as of 2026-08-27.
Is TCRT a good diversifier for QQQ?
Yes. With a correlation of -0.09, QQQ and TCRT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.09 mean?
A reading of -0.09 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/qqq-vs-tcrt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-tcrt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QQQ correlations · TCRT correlations
