FGBI vs QQQ: Correlation
First Guaranty Bancshares, Inc. (FGBI) and Invesco QQQ Trust (QQQ) show a near-zero relationship: their 3-year correlation of weekly returns is 0.04.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FGBI and QQQ?
Across a 3-year window, the weekly returns of FGBI and QQQ correlate at 0.04, near zero, meaning they move largely independently. Recent behaviour matches the longer record: 0.09 over 1 year against 0.04 over 3. Stretching to 5 years gives 0.11, with an annualized covariance of 38.5 %².
QQQ is close to the least connected end of FGBI's tracked universe, ranking #8 of 11. Correlation aside, the last 12 months split them widely, with QQQ ahead by 23.6 points (+2.7% versus +26.3%). Note the risk asymmetry: FGBI runs 2.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
FGBI vs QQQ: side by side
| FGBI (First Guaranty Bancshares, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +2.7% | +26.3% |
| 5-year return | -46.6% | +95.4% |
| Volatility (ann.) | 52.8% | 19.6% |
| Beta vs S&P 500 | 0.28 | 1.28 |
| Max drawdown (3Y) | -70.0% | -22.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.49% | 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 | FGBI | QQQ |
|---|---|---|
| 2022 | +18.2% | -32.6% |
| 2023 | -50.2% | +54.9% |
| 2024 | +6.6% | +25.6% |
| 2025 | -52.5% | +20.8% |
| 2026 | +51.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FGBI and QQQ good diversifiers for each other?
Yes. With a correlation of 0.04, FGBI and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FGBI and QQQ?
The FGBI/QQQ correlation stands at 0.04 on a 3-year window (1 year: 0.09, 5 years: 0.11), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for FGBI?
Yes. With a correlation of 0.04, FGBI and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.04 mean?
On the −1 to +1 scale, 0.04 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
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Related comparisons
Hubs: FGBI correlations · QQQ correlations
