FE vs QQQ: Correlation
FirstEnergy (FE) and Invesco QQQ Trust (QQQ) show a near-zero relationship: their 3-year correlation of weekly returns is -0.07.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FE and QQQ?
On 3 years of weekly data the FE/QQQ correlation comes out at -0.07, near zero, meaning they move largely independently. Lately the two have drifted apart, with the 1-year correlation at -0.29 versus -0.07 over 3 years. The 5-year figure is 0.11, and annualized covariance runs at -25.6 %².
Among the 32 assets we track against FE, QQQ ranks #22 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 16.4 points (+9.9% versus +26.3%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.33 to 0.24.
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.
FE vs QQQ: side by side
| FE (FirstEnergy) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +9.9% | +26.3% |
| 5-year return | +46.7% | +95.4% |
| Volatility (ann.) | 17.6% | 19.6% |
| Beta vs S&P 500 | 0.04 | 1.28 |
| Max drawdown (3Y) | -14.7% | -22.8% |
| Market cap | $26.8B | – |
| P/E (trailing) | 25.0 | – |
| Dividend yield | 3.85% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Utilities | 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 | FE | QQQ |
|---|---|---|
| 2022 | +4.8% | -32.6% |
| 2023 | -8.9% | +54.9% |
| 2024 | +13.2% | +25.6% |
| 2025 | +17.3% | +20.8% |
| 2026 | +6.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FE and QQQ good diversifiers for each other?
Yes: at -0.07, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FE and QQQ?
As of 2026-08-27, the correlation of weekly returns between FE and QQQ is -0.07 over 3 years, -0.29 over 1 year and 0.11 over 5 years.
Is QQQ a good diversifier for FE?
Yes: at -0.07, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.07 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.
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Related comparisons
Hubs: FE correlations · QQQ correlations
