FELE vs QQQ: Correlation
How closely do Franklin Electric Co., Inc. (FELE) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FELE and QQQ?
Across a 3-year window, the weekly returns of FELE and QQQ correlate at 0.40, moderate. The past 12 months show a weaker link (0.16) than the 3-year average (0.40). Stretching to 5 years gives 0.49, with an annualized covariance of 176.9 %².
Among the 25 assets we track against FELE, QQQ sits near the bottom by co-movement, at rank #22. Correlation aside, the last 12 months split them widely, with QQQ ahead by 22.5 points (+3.8% versus +26.3%).
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.
FELE vs QQQ: side by side
| FELE (Franklin Electric Co., Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +3.8% | +26.3% |
| 5-year return | +25.2% | +95.4% |
| Volatility (ann.) | 22.7% | 19.6% |
| Beta vs S&P 500 | 0.79 | 1.28 |
| Max drawdown (3Y) | -23.5% | -22.8% |
| Market cap | $4.5B | – |
| P/E (trailing) | 29.4 | – |
| Dividend yield | 1.06% | 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 | FELE | QQQ |
|---|---|---|
| 2022 | -14.9% | -32.6% |
| 2023 | +22.4% | +54.9% |
| 2024 | +1.8% | +25.6% |
| 2025 | -0.9% | +20.8% |
| 2026 | +7.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FELE and QQQ good diversifiers for each other?
Reasonably. At 0.40, FELE and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FELE and QQQ?
As of 2026-08-27, the correlation of weekly returns between FELE and QQQ is 0.40 over 3 years, 0.16 over 1 year and 0.49 over 5 years.
Is QQQ a good diversifier for FELE?
Reasonably. At 0.40, FELE and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
A reading of 0.40 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: FELE correlations · QQQ correlations
