FLS vs QQQ: Correlation
How closely do Flowserve Corporation (FLS) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.49, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLS and QQQ?
On 3 years of weekly data the FLS/QQQ correlation comes out at 0.49, moderate. The link has loosened recently: the 1-year correlation (0.35) runs below the 3-year figure (0.49). The 5-year figure is 0.48, and annualized covariance runs at 357.0 %².
Among the 13 assets we track against FLS, QQQ sits near the bottom by co-movement, at rank #9. Their recent paths diverged sharply: over the last 12 months FLS outperformed by 25.1 percentage points (+51.4% for FLS against +26.3% for QQQ). Risk is not evenly split, since FLS carries 1.9 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.
FLS vs QQQ: side by side
| FLS (Flowserve Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +51.4% | +26.3% |
| 5-year return | +131.6% | +95.4% |
| Volatility (ann.) | 37.2% | 19.6% |
| Beta vs S&P 500 | 1.43 | 1.28 |
| Max drawdown (3Y) | -38.8% | -22.8% |
| Market cap | $10.4B | – |
| P/E (trailing) | 28.8 | – |
| Dividend yield | 1.04% | 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 | FLS | QQQ |
|---|---|---|
| 2022 | +3.1% | -32.6% |
| 2023 | +37.3% | +54.9% |
| 2024 | +41.9% | +25.6% |
| 2025 | +22.5% | +20.8% |
| 2026 | +18.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLS and QQQ good diversifiers for each other?
Reasonably. At 0.49, FLS and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FLS and QQQ?
The FLS/QQQ correlation stands at 0.49 on a 3-year window (1 year: 0.35, 5 years: 0.48), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for FLS?
Reasonably. At 0.49, FLS and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
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Related comparisons
Hubs: FLS correlations · QQQ correlations
