FLNC vs QQQ: Correlation
How closely do Fluence Energy, Inc. (FLNC) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.33, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLNC and QQQ?
Over the past 3 years, FLNC and QQQ moved with a correlation of 0.33, which is moderate. Little has changed lately, as the 1-year reading of 0.38 lands near the 3-year figure. Over 5 years the correlation is 0.36, and the annualized covariance of weekly returns is 699.2 %².
Within FLNC's tracked universe of 19 assets, QQQ comes in at #9 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FLNC ahead by 30.7 points (+57.0% versus +26.3%). Note the risk asymmetry: FLNC runs 5.6 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.
FLNC vs QQQ: side by side
| FLNC (Fluence Energy, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +57.0% | +26.3% |
| 5-year return | -67.3% | +95.4% |
| Volatility (ann.) | 109.2% | 19.6% |
| Beta vs S&P 500 | 2.11 | 1.28 |
| Max drawdown (3Y) | -86.9% | -22.8% |
| Market cap | $2.1B | – |
| 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 | FLNC | QQQ |
|---|---|---|
| 2022 | -51.8% | -32.6% |
| 2023 | +39.1% | +54.9% |
| 2024 | -33.4% | +25.6% |
| 2025 | +24.6% | +20.8% |
| 2026 | -42.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLNC and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FLNC and QQQ?
Using weekly returns as of 2026-08-27: 0.33 over 3 years, with 0.38 over the last year and 0.36 over 5 years.
Is QQQ a good diversifier for FLNC?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.33 mean?
On the −1 to +1 scale, 0.33 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/flnc-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/flnc-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FLNC correlations · QQQ correlations
