QQQ vs ZYME: Correlation
Invesco QQQ Trust (QQQ) and Zymeworks Inc. (ZYME) show a weak relationship: their 3-year correlation of weekly returns is 0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and ZYME?
On 3 years of weekly data the QQQ/ZYME correlation comes out at 0.23, weak. Lately the two have drifted apart, with the 1-year correlation at 0.00 versus 0.23 over 3 years. The 5-year figure is 0.20, and annualized covariance runs at 221.6 %².
Within QQQ's tracked universe of 4755 assets, ZYME comes in at #2467 by 3-year correlation. The last year tells two different stories: ZYME led by 68.0 percentage points, +26.3% for QQQ against +94.3% for ZYME. One caveat on sizing: ZYME is 2.5 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 ZYME: side by side
| QQQ (Invesco QQQ Trust) | ZYME (Zymeworks Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +94.3% |
| 5-year return | +95.4% | -10.9% |
| Volatility (ann.) | 19.6% | 49.4% |
| Beta vs S&P 500 | 1.28 | 1.02 |
| Max drawdown (3Y) | -22.8% | -45.7% |
| Market cap | – | $2.1B |
| 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 | ZYME |
|---|---|---|
| 2022 | -32.6% | -52.0% |
| 2023 | +54.9% | +32.2% |
| 2024 | +25.6% | +40.9% |
| 2025 | +20.8% | +79.8% |
| 2026 | +17.7% | +10.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and ZYME good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.23 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between QQQ and ZYME?
As of 2026-08-27, the correlation of weekly returns between QQQ and ZYME is 0.23 over 3 years, 0.00 over 1 year and 0.20 over 5 years.
Is ZYME a good diversifier for QQQ?
Yes, to a useful degree: a correlation of 0.23 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.23 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.
Use this data
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Related comparisons
Hubs: QQQ correlations · ZYME correlations
