FBNC vs QQQ: Correlation
First Bancorp (FBNC) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FBNC and QQQ?
On 3 years of weekly data the FBNC/QQQ correlation comes out at 0.28, weak. The link has loosened recently: the 1-year correlation (0.05) runs below the 3-year figure (0.28). The 5-year figure is 0.28, and annualized covariance runs at 166.4 %².
Out of 23 assets tracked against FBNC, QQQ lands near the bottom at #20. On 12-month performance QQQ holds a 9.4-point edge, +16.9% against +26.3%. Note the risk asymmetry: FBNC runs 1.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
FBNC vs QQQ: side by side
| FBNC (First Bancorp) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +16.9% | +26.3% |
| 5-year return | +72.4% | +95.4% |
| Volatility (ann.) | 30.0% | 19.6% |
| Beta vs S&P 500 | 0.89 | 1.28 |
| Max drawdown (3Y) | -26.0% | -22.8% |
| Market cap | $2.6B | – |
| P/E (trailing) | 19.9 | – |
| Dividend yield | 1.47% | 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 | FBNC | QQQ |
|---|---|---|
| 2022 | -4.2% | -32.6% |
| 2023 | -11.2% | +54.9% |
| 2024 | +21.7% | +25.6% |
| 2025 | +17.8% | +20.8% |
| 2026 | +26.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FBNC and QQQ good diversifiers for each other?
A fair diversifier. At 0.28, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FBNC and QQQ?
As of 2026-08-27, the correlation of weekly returns between FBNC and QQQ is 0.28 over 3 years, 0.05 over 1 year and 0.28 over 5 years.
Is QQQ a good diversifier for FBNC?
A fair diversifier. At 0.28, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.28 mean?
On the −1 to +1 scale, 0.28 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.
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Related comparisons
Hubs: FBNC correlations · QQQ correlations
