QQQ vs TWST: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Twist Bioscience Corporation (TWST) carry a correlation of 0.36, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and TWST?
Across a 3-year window, the weekly returns of QQQ and TWST correlate at 0.36, moderate. The past 12 months show a weaker link (0.20) than the 3-year average (0.36). Stretching to 5 years gives 0.46, with an annualized covariance of 542.9 %².
Within QQQ's tracked universe of 4755 assets, TWST comes in at #974 by 3-year correlation. Correlation aside, the last 12 months split them widely, with TWST ahead by 436.8 points (+26.3% versus +463.1%). One caveat on sizing: TWST is 3.9 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 TWST: side by side
| QQQ (Invesco QQQ Trust) | TWST (Twist Bioscience Corporation) | |
|---|---|---|
| 1-year return | +26.3% | +463.1% |
| 5-year return | +95.4% | +39.8% |
| Volatility (ann.) | 19.6% | 76.1% |
| Beta vs S&P 500 | 1.28 | 2.21 |
| Max drawdown (3Y) | -22.8% | -59.0% |
| Market cap | – | $9.6B |
| 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 | TWST |
|---|---|---|
| 2022 | -32.6% | -69.2% |
| 2023 | +54.9% | +54.8% |
| 2024 | +25.6% | +26.1% |
| 2025 | +20.8% | -31.7% |
| 2026 | +17.7% | +382.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and TWST good diversifiers for each other?
Reasonably. At 0.36, QQQ and TWST keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and TWST?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.20 over the last year and 0.46 over 5 years.
Is TWST a good diversifier for QQQ?
Reasonably. At 0.36, QQQ and TWST keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 mean?
A reading of 0.36 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: QQQ correlations · TWST correlations
