DUO vs QQQ: Correlation
Measured on weekly returns over the past three years, Fangdd Network Group Ltd. - Class A (DUO) and Invesco QQQ Trust (QQQ) carry a correlation of 0.10, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DUO and QQQ?
On 3 years of weekly data the DUO/QQQ correlation comes out at 0.10, weak. The past 12 months show a tighter link (0.27) than the 3-year average (0.10). The 5-year figure is 0.15, and annualized covariance runs at 532.2 %².
By 3-year correlation, QQQ places #8 of the 15 assets tracked against DUO. Correlation aside, the last 12 months split them widely, with QQQ ahead by 80.1 points (-53.8% versus +26.3%). One caveat on sizing: DUO is 14.2 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.
DUO vs QQQ: side by side
| DUO (Fangdd Network Group Ltd. - Class A) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -53.8% | +26.3% |
| 5-year return | -100.0% | +95.4% |
| Volatility (ann.) | 278.7% | 19.6% |
| Beta vs S&P 500 | 1.68 | 1.28 |
| Max drawdown (3Y) | -99.2% | -22.8% |
| Market cap | – | – |
| 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 | DUO | QQQ |
|---|---|---|
| 2022 | -89.0% | -32.6% |
| 2023 | -94.2% | +54.9% |
| 2024 | -11.1% | +25.6% |
| 2025 | -84.7% | +20.8% |
| 2026 | -52.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DUO and QQQ good diversifiers for each other?
Yes. With a correlation of 0.10, DUO and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DUO and QQQ?
As of 2026-08-27, the correlation of weekly returns between DUO and QQQ is 0.10 over 3 years, 0.27 over 1 year and 0.15 over 5 years.
Is QQQ a good diversifier for DUO?
Yes. With a correlation of 0.10, DUO and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.10 mean?
A reading of 0.10 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
$ curl https://www.pairbook.io/api/v1/pairs/duo-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/duo-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DUO correlations · QQQ correlations
