FCAP vs QQQ: Correlation
How closely do First Capital, Inc. (FCAP) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.06, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FCAP and QQQ?
Over the past 3 years, FCAP and QQQ moved with a correlation of 0.06, which is near zero, meaning they move largely independently. Little has changed lately, as the 1-year reading of 0.03 lands near the 3-year figure. Over 5 years the correlation is 0.08, and the annualized covariance of weekly returns is 45.0 %².
By 3-year correlation, QQQ places #7 of the 13 assets tracked against FCAP. Correlation aside, the last 12 months split them widely, with FCAP ahead by 29.5 points (+55.8% versus +26.3%). One caveat on sizing: FCAP is 2.0 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.
FCAP vs QQQ: side by side
| FCAP (First Capital, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +55.8% | +26.3% |
| 5-year return | +72.5% | +95.4% |
| Volatility (ann.) | 38.7% | 19.6% |
| Beta vs S&P 500 | 0.26 | 1.28 |
| Max drawdown (3Y) | -32.5% | -22.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | 11.3 | – |
| Dividend yield | 2.02% | 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 | FCAP | QQQ |
|---|---|---|
| 2022 | -36.3% | -32.6% |
| 2023 | +16.5% | +54.9% |
| 2024 | +20.0% | +25.6% |
| 2025 | +88.4% | +20.8% |
| 2026 | +6.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FCAP and QQQ good diversifiers for each other?
Yes. With a correlation of 0.06, FCAP and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FCAP and QQQ?
Using weekly returns as of 2026-08-27: 0.06 over 3 years, with 0.03 over the last year and 0.08 over 5 years.
Is QQQ a good diversifier for FCAP?
Yes. With a correlation of 0.06, FCAP and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.06 mean?
A reading of 0.06 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/fcap-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fcap-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FCAP correlations · QQQ correlations
