FEBO vs QQQ: Correlation
How closely do Fenbo Holdings Limited - Class A (FEBO) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.01, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FEBO and QQQ?
Across a 3-year window, the weekly returns of FEBO and QQQ correlate at 0.01, near zero, meaning they move largely independently. Recent behaviour matches the longer record: -0.05 over 1 year against 0.01 over 3. Stretching to 5 years gives n/a, with an annualized covariance of 22.6 %².
Among the 10 assets we track against FEBO, QQQ sits near the bottom by co-movement, at rank #7. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 29.4 percentage points (-3.1% for FEBO against +26.3% for QQQ). One caveat on sizing: FEBO is 4.1 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.
FEBO vs QQQ: side by side
| FEBO (Fenbo Holdings Limited - Class A) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -3.1% | +26.3% |
| 5-year return | n/a | +95.4% |
| Volatility (ann.) | 81.1% | 19.6% |
| Beta vs S&P 500 | 0.19 | 1.28 |
| Max drawdown (3Y) | -96.0% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 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 | FEBO | QQQ |
|---|---|---|
| 2022 | – | -32.6% |
| 2023 | – | +54.9% |
| 2024 | -65.6% | +25.6% |
| 2025 | -23.6% | +20.8% |
| 2026 | -45.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FEBO and QQQ good diversifiers for each other?
Yes: at 0.01, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FEBO and QQQ?
As of 2026-08-27, the correlation of weekly returns between FEBO and QQQ is 0.01 over 3 years, -0.05 over 1 year and n/a over 5 years.
Is QQQ a good diversifier for FEBO?
Yes: at 0.01, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.01 mean?
A reading of 0.01 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: FEBO correlations · QQQ correlations
