FIP vs QQQ: Correlation
FTAI Infrastructure Inc. (FIP) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FIP and QQQ?
On 3 years of weekly data the FIP/QQQ correlation comes out at 0.35, moderate. Little has changed lately, as the 1-year reading of 0.26 lands near the 3-year figure. The 5-year figure is 0.30, and annualized covariance runs at 387.2 %².
QQQ is close to the least connected end of FIP's tracked universe, ranking #9 of 13. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 53.8 percentage points (-27.5% for FIP against +26.3% for QQQ). Note the risk asymmetry: FIP runs 2.9 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.
FIP vs QQQ: side by side
| FIP (FTAI Infrastructure Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -27.5% | +26.3% |
| 5-year return | n/a | +95.4% |
| Volatility (ann.) | 56.6% | 19.6% |
| Beta vs S&P 500 | 1.48 | 1.28 |
| Max drawdown (3Y) | -68.0% | -22.8% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 3.22% | 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 | FIP | QQQ |
|---|---|---|
| 2022 | – | -32.6% |
| 2023 | +36.9% | +54.9% |
| 2024 | +89.5% | +25.6% |
| 2025 | -34.9% | +20.8% |
| 2026 | -19.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FIP and QQQ good diversifiers for each other?
Reasonably. At 0.35, FIP and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FIP and QQQ?
As of 2026-08-27, the correlation of weekly returns between FIP and QQQ is 0.35 over 3 years, 0.26 over 1 year and 0.30 over 5 years.
Is QQQ a good diversifier for FIP?
Reasonably. At 0.35, FIP and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.35 mean?
A reading of 0.35 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fip-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fip-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FIP correlations · QQQ correlations
