FDS vs QQQ: Correlation
Measured on weekly returns over the past three years, FactSet (FDS) and Invesco QQQ Trust (QQQ) carry a correlation of 0.19, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FDS and QQQ?
On 3 years of weekly data the FDS/QQQ correlation comes out at 0.19, weak. The link has loosened recently: the 1-year correlation (0.07) runs below the 3-year figure (0.19). The 5-year figure is 0.35, and annualized covariance runs at 120.6 %².
By 3-year correlation, QQQ places #22 of the 32 assets tracked against FDS. The last year tells two different stories: QQQ led by 44.9 percentage points, -18.6% for FDS against +26.3% for QQQ. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.08 to 0.62. Note the risk asymmetry: FDS runs 1.6 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.
FDS vs QQQ: side by side
| FDS (FactSet) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -18.6% | +26.3% |
| 5-year return | -15.8% | +95.4% |
| Volatility (ann.) | 31.9% | 19.6% |
| Beta vs S&P 500 | 0.56 | 1.28 |
| Max drawdown (3Y) | -61.1% | -22.8% |
| Market cap | $10.8B | – |
| P/E (trailing) | 19.5 | – |
| Dividend yield | 1.51% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Financials | 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 | FDS | QQQ |
|---|---|---|
| 2022 | -16.7% | -32.6% |
| 2023 | +20.0% | +54.9% |
| 2024 | +1.6% | +25.6% |
| 2025 | -38.9% | +20.8% |
| 2026 | +6.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FDS and QQQ good diversifiers for each other?
Yes: at 0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FDS and QQQ?
The FDS/QQQ correlation stands at 0.19 on a 3-year window (1 year: 0.07, 5 years: 0.35), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for FDS?
Yes: at 0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.19 mean?
A reading of 0.19 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/fds-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fds-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FDS correlations · QQQ correlations
