FDS vs NDAQ: Correlation
FactSet (FDS) and Nasdaq, Inc. (NDAQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FDS and NDAQ?
Across a 3-year window, the weekly returns of FDS and NDAQ correlate at 0.54, moderate. The relationship has been stable: the 1-year correlation (0.61) sits close to the 3-year figure. Stretching to 5 years gives 0.56, with an annualized covariance of 395.9 %².
Among the 32 assets we track against FDS, NDAQ ranks #15 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NDAQ outperformed by 24.7 percentage points (-18.6% for FDS against +6.1% for NDAQ). On a rolling one-year basis the correlation drifted between 0.23 and 0.68, a moderate band.
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.
FDS vs NDAQ: side by side
| FDS (FactSet) | NDAQ (Nasdaq, Inc.) | |
|---|---|---|
| 1-year return | -18.6% | +6.1% |
| 5-year return | -15.8% | +64.4% |
| Volatility (ann.) | 31.9% | 23.2% |
| Beta vs S&P 500 | 0.56 | 0.80 |
| Max drawdown (3Y) | -61.1% | -23.4% |
| Market cap | $10.8B | $55.5B |
| P/E (trailing) | 19.5 | 29.0 |
| Dividend yield | 1.51% | 1.13% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | FDS | NDAQ |
|---|---|---|
| 2022 | -16.7% | -11.2% |
| 2023 | +20.0% | -3.7% |
| 2024 | +1.6% | +34.8% |
| 2025 | -38.9% | +27.2% |
| 2026 | +6.0% | +3.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FDS and NDAQ good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FDS and NDAQ?
The FDS/NDAQ correlation stands at 0.54 on a 3-year window (1 year: 0.61, 5 years: 0.56), computed from weekly returns as of 2026-08-27.
Is NDAQ a good diversifier for FDS?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 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/fds-vs-ndaq.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fds-vs-ndaq/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FDS correlations · NDAQ correlations
