FBIO vs QQQ: Correlation
How closely do Fortress Biotech, Inc. (FBIO) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.18, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FBIO and QQQ?
Over the past 3 years, FBIO and QQQ moved with a correlation of 0.18, which is weak. The link has loosened recently: the 1-year correlation (0.05) runs below the 3-year figure (0.18). Over 5 years the correlation is 0.24, and the annualized covariance of weekly returns is 341.2 %².
QQQ is close to the least connected end of FBIO's tracked universe, ranking #9 of 12. On 12-month performance QQQ holds a 6.6-point edge, +19.7% against +26.3%. One caveat on sizing: FBIO is 4.8 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.
FBIO vs QQQ: side by side
| FBIO (Fortress Biotech, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +19.7% | +26.3% |
| 5-year return | -94.3% | +95.4% |
| Volatility (ann.) | 94.3% | 19.6% |
| Beta vs S&P 500 | 1.35 | 1.28 |
| Max drawdown (3Y) | -78.2% | -22.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | 1.0 | – |
| 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 | FBIO | QQQ |
|---|---|---|
| 2022 | -73.6% | -32.6% |
| 2023 | -69.6% | +54.9% |
| 2024 | -32.6% | +25.6% |
| 2025 | +80.3% | +20.8% |
| 2026 | -23.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FBIO and QQQ good diversifiers for each other?
Yes: at 0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FBIO and QQQ?
As of 2026-08-27, the correlation of weekly returns between FBIO and QQQ is 0.18 over 3 years, 0.05 over 1 year and 0.24 over 5 years.
Is QQQ a good diversifier for FBIO?
Yes: at 0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.18 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
$ curl https://www.pairbook.io/api/v1/pairs/fbio-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fbio-vs-qqq/)
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Related comparisons
Hubs: FBIO correlations · QQQ correlations
