FDX vs QQQ: Correlation
FedEx (FDX) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FDX and QQQ?
Across a 3-year window, the weekly returns of FDX and QQQ correlate at 0.31, moderate. The relationship has been stable: the 1-year correlation (0.26) sits close to the 3-year figure. Stretching to 5 years gives 0.42, with an annualized covariance of 187.2 %².
Within FDX's tracked universe of 36 assets, QQQ comes in at #25 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months FDX outperformed by 54.3 percentage points (+80.6% for FDX 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 0.11 to 0.65. Note the risk asymmetry: FDX 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.
FDX vs QQQ: side by side
| FDX (FedEx) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +80.6% | +26.3% |
| 5-year return | +71.0% | +95.4% |
| Volatility (ann.) | 30.7% | 19.6% |
| Beta vs S&P 500 | 0.89 | 1.28 |
| Max drawdown (3Y) | -35.9% | -22.8% |
| Market cap | $78.4B | – |
| P/E (trailing) | 18.1 | – |
| Dividend yield | 1.66% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Industrials | 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 | FDX | QQQ |
|---|---|---|
| 2022 | -31.6% | -32.6% |
| 2023 | +49.1% | +54.9% |
| 2024 | +13.5% | +25.6% |
| 2025 | +5.1% | +20.8% |
| 2026 | +43.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FDX and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FDX and QQQ?
As of 2026-08-27, the correlation of weekly returns between FDX and QQQ is 0.31 over 3 years, 0.26 over 1 year and 0.42 over 5 years.
Is QQQ a good diversifier for FDX?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.31 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/fdx-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fdx-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FDX correlations · QQQ correlations
