FHN vs QQQ: Correlation
First Horizon Corporation (FHN) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FHN and QQQ?
On 3 years of weekly data the FHN/QQQ correlation comes out at 0.36, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.15 versus 0.36 over 3 years. The 5-year figure is 0.20, and annualized covariance runs at 216.3 %².
Out of 17 assets tracked against FHN, QQQ lands near the bottom at #14. The last year tells two different stories: QQQ led by 16.4 percentage points, +9.9% for FHN against +26.3% for QQQ. One caveat on sizing: FHN is 1.6 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.
FHN vs QQQ: side by side
| FHN (First Horizon Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +9.9% | +26.3% |
| 5-year return | +77.9% | +95.4% |
| Volatility (ann.) | 30.5% | 19.6% |
| Beta vs S&P 500 | 1.08 | 1.28 |
| Max drawdown (3Y) | -27.1% | -22.8% |
| Market cap | $11.6B | – |
| P/E (trailing) | 11.8 | – |
| Dividend yield | 2.60% | 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 | FHN | QQQ |
|---|---|---|
| 2022 | +53.9% | -32.6% |
| 2023 | -39.4% | +54.9% |
| 2024 | +47.7% | +25.6% |
| 2025 | +22.1% | +20.8% |
| 2026 | +3.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FHN and QQQ good diversifiers for each other?
Reasonably. At 0.36, FHN and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FHN and QQQ?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.15 over the last year and 0.20 over 5 years.
Is QQQ a good diversifier for FHN?
Reasonably. At 0.36, FHN and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 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/fhn-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fhn-vs-qqq/)
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Related comparisons
Hubs: FHN correlations · QQQ correlations
