QQQ vs ZNTL: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Zentalis Pharmaceuticals, Inc. (ZNTL) carry a correlation of 0.21, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and ZNTL?
Over the past 3 years, QQQ and ZNTL moved with a correlation of 0.21, which is weak. Recent behaviour matches the longer record: 0.21 over 1 year against 0.21 over 3. Over 5 years the correlation is 0.24, and the annualized covariance of weekly returns is 640.7 %².
Within QQQ's tracked universe of 4755 assets, ZNTL comes in at #2752 by 3-year correlation. The last year tells two different stories: ZNTL led by 86.9 percentage points, +26.3% for QQQ against +113.2% for ZNTL. One caveat on sizing: ZNTL is 8.1 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 ZNTL: side by side
| QQQ (Invesco QQQ Trust) | ZNTL (Zentalis Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +113.2% |
| 5-year return | +95.4% | -94.1% |
| Volatility (ann.) | 19.6% | 159.7% |
| Beta vs S&P 500 | 1.28 | 2.82 |
| Max drawdown (3Y) | -22.8% | -96.2% |
| 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 | ZNTL |
|---|---|---|
| 2022 | -32.6% | -76.0% |
| 2023 | +54.9% | -24.8% |
| 2024 | +25.6% | -80.0% |
| 2025 | +20.8% | -55.4% |
| 2026 | +17.7% | +187.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and ZNTL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.21 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between QQQ and ZNTL?
Using weekly returns as of 2026-08-27: 0.21 over 3 years, with 0.21 over the last year and 0.24 over 5 years.
Is ZNTL a good diversifier for QQQ?
Yes, to a useful degree: a correlation of 0.21 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.21 mean?
A reading of 0.21 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
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[](https://www.pairbook.io/pair/qqq-vs-zntl/)
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Related comparisons
Hubs: QQQ correlations · ZNTL correlations
