FGI vs QQQ: Correlation
FGI Industries Ltd. (FGI) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.17.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FGI and QQQ?
On 3 years of weekly data the FGI/QQQ correlation comes out at 0.17, weak. The link has tightened recently: the 1-year correlation (0.37) runs above the 3-year figure (0.17). The 5-year figure is 0.18, and annualized covariance runs at 449.0 %².
QQQ is close to the least connected end of FGI's tracked universe, ranking #9 of 13. Their recent paths diverged sharply: over the last 12 months FGI outperformed by 48.7 percentage points (+75.0% for FGI against +26.3% for QQQ). One caveat on sizing: FGI is 6.8 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.
FGI vs QQQ: side by side
| FGI (FGI Industries Ltd.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +75.0% | +26.3% |
| 5-year return | -61.6% | +95.4% |
| Volatility (ann.) | 133.7% | 19.6% |
| Beta vs S&P 500 | 1.29 | 1.28 |
| Max drawdown (3Y) | -72.6% | -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 | FGI | QQQ |
|---|---|---|
| 2022 | – | -32.6% |
| 2023 | -23.7% | +54.9% |
| 2024 | -52.7% | +25.6% |
| 2025 | +47.1% | +20.8% |
| 2026 | +31.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FGI and QQQ good diversifiers for each other?
Yes: at 0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FGI and QQQ?
As of 2026-08-27, the correlation of weekly returns between FGI and QQQ is 0.17 over 3 years, 0.37 over 1 year and 0.18 over 5 years.
Is QQQ a good diversifier for FGI?
Yes: at 0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.17 mean?
On the −1 to +1 scale, 0.17 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/fgi-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fgi-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FGI correlations · QQQ correlations
