AFRI vs QQQ: Correlation
How closely do Forafric Global PLC (AFRI) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.19, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AFRI and QQQ?
On 3 years of weekly data the AFRI/QQQ correlation comes out at 0.19, weak. Little has changed lately, as the 1-year reading of 0.24 lands near the 3-year figure. The 5-year figure is 0.19, and annualized covariance runs at 80.9 %².
Among the 11 assets we track against AFRI, QQQ sits near the bottom by co-movement, at rank #8. Twelve-month performance is nearly a tie, at +24.4% for AFRI and +26.3% for QQQ.
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.
AFRI vs QQQ: side by side
| AFRI (Forafric Global PLC) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +24.4% | +26.3% |
| 5-year return | +9.0% | +95.4% |
| Volatility (ann.) | 21.7% | 19.6% |
| Beta vs S&P 500 | 0.33 | 1.28 |
| Max drawdown (3Y) | -34.3% | -22.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | US Listed | ETF · US Growth & Tech |
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 | AFRI | QQQ |
|---|---|---|
| 2022 | +9.7% | -32.6% |
| 2023 | -4.6% | +54.9% |
| 2024 | -3.2% | +25.6% |
| 2025 | +7.6% | +20.8% |
| 2026 | -1.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AFRI and QQQ good diversifiers for each other?
Yes. With a correlation of 0.19, AFRI and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AFRI and QQQ?
As of 2026-08-27, the correlation of weekly returns between AFRI and QQQ is 0.19 over 3 years, 0.24 over 1 year and 0.19 over 5 years.
Is QQQ a good diversifier for AFRI?
Yes. With a correlation of 0.19, AFRI and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.19 mean?
On the −1 to +1 scale, 0.19 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.
Use this data
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Related comparisons
Hubs: AFRI correlations · QQQ correlations
