FIGS vs QQQ: Correlation
Measured on weekly returns over the past three years, FIGS, Inc. (FIGS) and Invesco QQQ Trust (QQQ) carry a correlation of 0.17, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FIGS and QQQ?
On 3 years of weekly data the FIGS/QQQ correlation comes out at 0.17, weak. The relationship has been stable: the 1-year correlation (0.08) sits close to the 3-year figure. The 5-year figure is 0.29, and annualized covariance runs at 209.9 %².
QQQ is close to the least connected end of FIGS's tracked universe, ranking #8 of 11. The last year tells two different stories: FIGS led by 87.0 percentage points, +113.3% for FIGS against +26.3% for QQQ. Risk is not evenly split, since FIGS carries 3.3 times the volatility of the other side.
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.
FIGS vs QQQ: side by side
| FIGS (FIGS, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +113.3% | +26.3% |
| 5-year return | -63.9% | +95.4% |
| Volatility (ann.) | 63.9% | 19.6% |
| Beta vs S&P 500 | 0.92 | 1.28 |
| Max drawdown (3Y) | -54.4% | -22.8% |
| Market cap | $2.5B | – |
| P/E (trailing) | 45.8 | – |
| 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 | FIGS | QQQ |
|---|---|---|
| 2022 | -75.6% | -32.6% |
| 2023 | +3.3% | +54.9% |
| 2024 | -10.9% | +25.6% |
| 2025 | +83.5% | +20.8% |
| 2026 | +32.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FIGS and QQQ good diversifiers for each other?
Yes. With a correlation of 0.17, FIGS and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FIGS and QQQ?
As of 2026-08-27, the correlation of weekly returns between FIGS and QQQ is 0.17 over 3 years, 0.08 over 1 year and 0.29 over 5 years.
Is QQQ a good diversifier for FIGS?
Yes. With a correlation of 0.17, FIGS and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.17 mean?
A reading of 0.17 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: FIGS correlations · QQQ correlations
