QQQ vs WHWK: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Whitehawk Therapeutics, Inc. (WHWK) carry a correlation of 0.18, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and WHWK?
Across a 3-year window, the weekly returns of QQQ and WHWK correlate at 0.18, weak. The link has tightened recently: the 1-year correlation (0.52) runs above the 3-year figure (0.18). Stretching to 5 years gives 0.18, with an annualized covariance of 238.5 %².
Within QQQ's tracked universe of 4755 assets, WHWK comes in at #3108 by 3-year correlation. The last year tells two different stories: WHWK led by 142.8 percentage points, +26.3% for QQQ against +169.1% for WHWK. One caveat on sizing: WHWK is 3.5 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 WHWK: side by side
| QQQ (Invesco QQQ Trust) | WHWK (Whitehawk Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +169.1% |
| 5-year return | +95.4% | -80.9% |
| Volatility (ann.) | 19.6% | 69.1% |
| Beta vs S&P 500 | 1.28 | 1.03 |
| Max drawdown (3Y) | -22.8% | -80.6% |
| Market cap | – | $0.3B |
| 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 | WHWK |
|---|---|---|
| 2022 | -32.6% | -46.9% |
| 2023 | +54.9% | -84.3% |
| 2024 | +25.6% | +56.2% |
| 2025 | +20.8% | -23.3% |
| 2026 | +17.7% | +101.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and WHWK good diversifiers for each other?
Yes: at 0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between QQQ and WHWK?
As of 2026-08-27, the correlation of weekly returns between QQQ and WHWK is 0.18 over 3 years, 0.52 over 1 year and 0.18 over 5 years.
Is WHWK a good diversifier for QQQ?
Yes: at 0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.18 mean?
On the −1 to +1 scale, 0.18 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 · WHWK correlations
