FLGT vs QQQ: Correlation
Measured on weekly returns over the past three years, Fulgent Genetics, Inc. (FLGT) and Invesco QQQ Trust (QQQ) carry a correlation of 0.16, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLGT and QQQ?
On 3 years of weekly data the FLGT/QQQ correlation comes out at 0.16, weak. Little has changed lately, as the 1-year reading of 0.07 lands near the 3-year figure. The 5-year figure is 0.31, and annualized covariance runs at 146.8 %².
Out of 11 assets tracked against FLGT, QQQ lands near the bottom at #7. Correlation aside, the last 12 months split them widely, with QQQ ahead by 34.1 points (-7.8% versus +26.3%). Note the risk asymmetry: FLGT runs 2.4 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.
FLGT vs QQQ: side by side
| FLGT (Fulgent Genetics, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -7.8% | +26.3% |
| 5-year return | -78.2% | +95.4% |
| Volatility (ann.) | 46.5% | 19.6% |
| Beta vs S&P 500 | 0.55 | 1.28 |
| Max drawdown (3Y) | -59.2% | -22.8% |
| Market cap | $0.5B | – |
| 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 | FLGT | QQQ |
|---|---|---|
| 2022 | -70.4% | -32.6% |
| 2023 | -2.9% | +54.9% |
| 2024 | -36.1% | +25.6% |
| 2025 | +42.2% | +20.8% |
| 2026 | -24.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLGT and QQQ good diversifiers for each other?
Yes. With a correlation of 0.16, FLGT and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FLGT and QQQ?
As of 2026-08-27, the correlation of weekly returns between FLGT and QQQ is 0.16 over 3 years, 0.07 over 1 year and 0.31 over 5 years.
Is QQQ a good diversifier for FLGT?
Yes. With a correlation of 0.16, FLGT and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.16 mean?
A reading of 0.16 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/flgt-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/flgt-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FLGT correlations · QQQ correlations
