FHTX vs QQQ: Correlation
How closely do Foghorn Therapeutics Inc. (FHTX) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.28, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FHTX and QQQ?
On 3 years of weekly data the FHTX/QQQ correlation comes out at 0.28, weak. The relationship has been stable: the 1-year correlation (0.34) sits close to the 3-year figure. The 5-year figure is 0.27, and annualized covariance runs at 559.9 %².
Among the 12 assets we track against FHTX, QQQ sits near the bottom by co-movement, at rank #9. Over the last 12 months QQQ came out ahead by 11.3 percentage points (+15.0% against +26.3%). One caveat on sizing: FHTX is 5.3 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.
FHTX vs QQQ: side by side
| FHTX (Foghorn Therapeutics Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +15.0% | +26.3% |
| 5-year return | -49.1% | +95.4% |
| Volatility (ann.) | 103.7% | 19.6% |
| Beta vs S&P 500 | 2.17 | 1.28 |
| Max drawdown (3Y) | -68.5% | -22.8% |
| Market cap | $0.4B | – |
| 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 | FHTX | QQQ |
|---|---|---|
| 2022 | -72.1% | -32.6% |
| 2023 | +1.1% | +54.9% |
| 2024 | -26.8% | +25.6% |
| 2025 | +14.4% | +20.8% |
| 2026 | +15.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FHTX and QQQ good diversifiers for each other?
Reasonably. At 0.28, FHTX and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FHTX and QQQ?
The FHTX/QQQ correlation stands at 0.28 on a 3-year window (1 year: 0.34, 5 years: 0.27), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for FHTX?
Reasonably. At 0.28, FHTX and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.28 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
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Related comparisons
Hubs: FHTX correlations · QQQ correlations
