FAX vs QQQ: Correlation
abrdn Asia-Pacific Income Fund, Inc. (FAX) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FAX and QQQ?
Over the past 3 years, FAX and QQQ moved with a correlation of 0.34, which is moderate. The relationship has been stable: the 1-year correlation (0.41) sits close to the 3-year figure. Over 5 years the correlation is 0.34, and the annualized covariance of weekly returns is 94.6 %².
Among the 10 assets we track against FAX, QQQ sits near the bottom by co-movement, at rank #7. The last year tells two different stories: QQQ led by 24.0 percentage points, +2.3% for FAX against +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.
FAX vs QQQ: side by side
| FAX (abrdn Asia-Pacific Income Fund, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +2.3% | +26.3% |
| 5-year return | +5.2% | +95.4% |
| Volatility (ann.) | 14.2% | 19.6% |
| Beta vs S&P 500 | 0.40 | 1.28 |
| Max drawdown (3Y) | -13.2% | -22.8% |
| Market cap | $0.6B | – |
| P/E (trailing) | 14.4 | – |
| Dividend yield | 13.58% | 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 | FAX | QQQ |
|---|---|---|
| 2022 | -22.7% | -32.6% |
| 2023 | +16.8% | +54.9% |
| 2024 | +2.5% | +25.6% |
| 2025 | +18.2% | +20.8% |
| 2026 | +3.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FAX and QQQ good diversifiers for each other?
Reasonably. At 0.34, FAX and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FAX and QQQ?
Using weekly returns as of 2026-08-27: 0.34 over 3 years, with 0.41 over the last year and 0.34 over 5 years.
Is QQQ a good diversifier for FAX?
Reasonably. At 0.34, FAX and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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
$ curl https://www.pairbook.io/api/v1/pairs/fax-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fax-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FAX correlations · QQQ correlations
