EXFY vs QQQ: Correlation
How closely do Expensify, Inc. (EXFY) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.30, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXFY and QQQ?
Over the past 3 years, EXFY and QQQ moved with a correlation of 0.30, which is moderate. The relationship has been stable: the 1-year correlation (0.35) sits close to the 3-year figure. Over 5 years the correlation is 0.33, and the annualized covariance of weekly returns is 494.2 %².
Among the 12 assets we track against EXFY, QQQ sits near the bottom by co-movement, at rank #9. Over the last 12 months EXFY came out ahead by 7.0 percentage points (+33.3% against +26.3%). One caveat on sizing: EXFY is 4.3 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.
EXFY vs QQQ: side by side
| EXFY (Expensify, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +33.3% | +26.3% |
| 5-year return | -93.8% | +95.4% |
| Volatility (ann.) | 83.7% | 19.6% |
| Beta vs S&P 500 | 2.04 | 1.28 |
| Max drawdown (3Y) | -83.4% | -22.8% |
| Market cap | $0.2B | – |
| 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 | EXFY | QQQ |
|---|---|---|
| 2022 | -79.9% | -32.6% |
| 2023 | -72.0% | +54.9% |
| 2024 | +35.6% | +25.6% |
| 2025 | -54.9% | +20.8% |
| 2026 | +69.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXFY and QQQ good diversifiers for each other?
A fair diversifier. At 0.30, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between EXFY and QQQ?
The EXFY/QQQ correlation stands at 0.30 on a 3-year window (1 year: 0.35, 5 years: 0.33), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for EXFY?
A fair diversifier. At 0.30, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.30 mean?
On the −1 to +1 scale, 0.30 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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[](https://www.pairbook.io/pair/exfy-vs-qqq/)
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Related comparisons
Hubs: EXFY correlations · QQQ correlations
