FG vs QQQ: Correlation
F&G Annuities & Life, Inc. (FG) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FG and QQQ?
Over the past 3 years, FG and QQQ moved with a correlation of 0.29, which is weak. The past 12 months show a weaker link (0.15) than the 3-year average (0.29). Over 5 years the correlation is 0.22, and the annualized covariance of weekly returns is 235.7 %².
By 3-year correlation, QQQ places #8 of the 13 assets tracked against FG. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 56.0 percentage points (-29.7% for FG against +26.3% for QQQ). One caveat on sizing: FG is 2.1 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.
FG vs QQQ: side by side
| FG (F&G Annuities & Life, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -29.7% | +26.3% |
| 5-year return | n/a | +95.4% |
| Volatility (ann.) | 42.0% | 19.6% |
| Beta vs S&P 500 | 1.02 | 1.28 |
| Max drawdown (3Y) | -56.2% | -22.8% |
| Market cap | $3.1B | – |
| P/E (trailing) | 7.7 | – |
| Dividend yield | 4.27% | 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 | FG | QQQ |
|---|---|---|
| 2022 | – | -32.6% |
| 2023 | +137.1% | +54.9% |
| 2024 | -8.0% | +25.6% |
| 2025 | -23.6% | +20.8% |
| 2026 | -22.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FG and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.29 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FG and QQQ?
Using weekly returns as of 2026-08-27: 0.29 over 3 years, with 0.15 over the last year and 0.22 over 5 years.
Is QQQ a good diversifier for FG?
Yes, to a useful degree: a correlation of 0.29 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.29 mean?
On the −1 to +1 scale, 0.29 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fg-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fg-vs-qqq/)
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Related comparisons
Hubs: FG correlations · QQQ correlations
