FLG vs QQQ: Correlation
Measured on weekly returns over the past three years, Flagstar Bank, N.A. (FLG) and Invesco QQQ Trust (QQQ) carry a correlation of 0.18, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLG and QQQ?
On 3 years of weekly data the FLG/QQQ correlation comes out at 0.18, weak. Little has changed lately, as the 1-year reading of 0.23 lands near the 3-year figure. The 5-year figure is 0.25, and annualized covariance runs at 180.4 %².
Among the 11 assets we track against FLG, QQQ sits near the bottom by co-movement, at rank #8. Correlation aside, the last 12 months split them widely, with QQQ ahead by 21.4 points (+4.9% versus +26.3%). Note the risk asymmetry: FLG runs 2.7 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.
FLG vs QQQ: side by side
| FLG (Flagstar Bank, N.A.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +4.9% | +26.3% |
| 5-year return | -57.2% | +95.4% |
| Volatility (ann.) | 52.0% | 19.6% |
| Beta vs S&P 500 | 0.84 | 1.28 |
| Max drawdown (3Y) | -77.9% | -22.8% |
| Market cap | $5.6B | – |
| P/E (trailing) | 448.3 | – |
| Dividend yield | 0.29% | 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 | FLG | QQQ |
|---|---|---|
| 2022 | -24.5% | -32.6% |
| 2023 | +26.9% | +54.9% |
| 2024 | -69.1% | +25.6% |
| 2025 | +35.4% | +20.8% |
| 2026 | +7.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLG and QQQ good diversifiers for each other?
Yes. With a correlation of 0.18, FLG and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FLG and QQQ?
As of 2026-08-27, the correlation of weekly returns between FLG and QQQ is 0.18 over 3 years, 0.23 over 1 year and 0.25 over 5 years.
Is QQQ a good diversifier for FLG?
Yes. With a correlation of 0.18, FLG and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.18 mean?
A reading of 0.18 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/flg-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/flg-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FLG correlations · QQQ correlations
