QQQ vs TYRA: Correlation
How closely do Invesco QQQ Trust (QQQ) and Tyra Biosciences, Inc. (TYRA) trade together? Their weekly returns over three years give a correlation of 0.27, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and TYRA?
Across a 3-year window, the weekly returns of QQQ and TYRA correlate at 0.27, weak. The link has loosened recently: the 1-year correlation (-0.05) runs below the 3-year figure (0.27). Stretching to 5 years gives 0.37, with an annualized covariance of 350.6 %².
Within QQQ's tracked universe of 4755 assets, TYRA comes in at #1923 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TYRA outperformed by 76.6 percentage points (+26.3% for QQQ against +102.9% for TYRA). One caveat on sizing: TYRA is 3.4 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 TYRA: side by side
| QQQ (Invesco QQQ Trust) | TYRA (Tyra Biosciences, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +102.9% |
| 5-year return | +95.4% | +0.5% |
| Volatility (ann.) | 19.6% | 66.7% |
| Beta vs S&P 500 | 1.28 | 1.45 |
| Max drawdown (3Y) | -22.8% | -75.3% |
| Market cap | – | $1.6B |
| 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 | TYRA |
|---|---|---|
| 2022 | -32.6% | -46.0% |
| 2023 | +54.9% | +82.2% |
| 2024 | +25.6% | +0.4% |
| 2025 | +20.8% | +89.1% |
| 2026 | +17.7% | -0.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and TYRA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between QQQ and TYRA?
As of 2026-08-27, the correlation of weekly returns between QQQ and TYRA is 0.27 over 3 years, -0.05 over 1 year and 0.37 over 5 years.
Is TYRA a good diversifier for QQQ?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.27 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: QQQ correlations · TYRA correlations
