FET vs QQQ: Correlation
How closely do Forum Energy Technologies, Inc. (FET) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.14, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FET and QQQ?
Over the past 3 years, FET and QQQ moved with a correlation of 0.14, which is weak. Lately the two have drifted apart, with the 1-year correlation at -0.07 versus 0.14 over 3 years. Over 5 years the correlation is 0.18, and the annualized covariance of weekly returns is 136.1 %².
Out of 12 assets tracked against FET, QQQ lands near the bottom at #9. Their recent paths diverged sharply: over the last 12 months FET outperformed by 186.4 percentage points (+212.7% for FET against +26.3% for QQQ). Risk is not evenly split, since FET carries 2.5 times the volatility of the other side.
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.
FET vs QQQ: side by side
| FET (Forum Energy Technologies, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +212.7% | +26.3% |
| 5-year return | +307.0% | +95.4% |
| Volatility (ann.) | 49.1% | 19.6% |
| Beta vs S&P 500 | 0.80 | 1.28 |
| Max drawdown (3Y) | -47.1% | -22.8% |
| Market cap | $0.9B | – |
| 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 | FET | QQQ |
|---|---|---|
| 2022 | +83.8% | -32.6% |
| 2023 | -24.8% | +54.9% |
| 2024 | -30.1% | +25.6% |
| 2025 | +138.5% | +20.8% |
| 2026 | +115.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FET and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.14 means the two rarely move for the same reasons.
FAQ
What is the correlation between FET and QQQ?
As of 2026-08-27, the correlation of weekly returns between FET and QQQ is 0.14 over 3 years, -0.07 over 1 year and 0.18 over 5 years.
Is QQQ a good diversifier for FET?
By historical standards, yes. A correlation of 0.14 means the two rarely move for the same reasons.
What does a correlation of 0.14 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/fet-vs-qqq.json
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Related comparisons
Hubs: FET correlations · QQQ correlations
