QQQ vs TKNO: Correlation
Invesco QQQ Trust (QQQ) and Alpha Teknova, Inc. (TKNO) show a weak relationship: their 3-year correlation of weekly returns is 0.12.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and TKNO?
Across a 3-year window, the weekly returns of QQQ and TKNO correlate at 0.12, weak. Lately the two have moved closer together, with the 1-year correlation at 0.35 versus 0.12 over 3 years. Stretching to 5 years gives 0.17, with an annualized covariance of 259.6 %².
Among the 4755 assets we track against QQQ, TKNO ranks #3701 by 3-year correlation. Correlation aside, the last 12 months split them widely, with TKNO ahead by 38.0 points (+26.3% versus +64.3%). One caveat on sizing: TKNO is 5.5 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.
QQQ vs TKNO: side by side
| QQQ (Invesco QQQ Trust) | TKNO (Alpha Teknova, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +64.3% |
| 5-year return | +95.4% | -61.5% |
| Volatility (ann.) | 19.6% | 107.9% |
| Beta vs S&P 500 | 1.28 | 1.10 |
| Max drawdown (3Y) | -22.8% | -79.6% |
| Market cap | – | $0.4B |
| 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 | TKNO |
|---|---|---|
| 2022 | -32.6% | -72.5% |
| 2023 | +54.9% | -33.9% |
| 2024 | +25.6% | +123.9% |
| 2025 | +20.8% | -54.5% |
| 2026 | +17.7% | +92.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and TKNO good diversifiers for each other?
Yes. With a correlation of 0.12, QQQ and TKNO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between QQQ and TKNO?
The QQQ/TKNO correlation stands at 0.12 on a 3-year window (1 year: 0.35, 5 years: 0.17), computed from weekly returns as of 2026-08-27.
Is TKNO a good diversifier for QQQ?
Yes. With a correlation of 0.12, QQQ and TKNO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.12 mean?
On the −1 to +1 scale, 0.12 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.
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Related comparisons
Hubs: QQQ correlations · TKNO correlations
