FLYW vs QQQ: Correlation
How closely do Flywire Corporation - Voting (FLYW) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.28, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLYW and QQQ?
Over the past 3 years, FLYW and QQQ moved with a correlation of 0.28, which is weak. Lately the two have moved closer together, with the 1-year correlation at 0.46 versus 0.28 over 3 years. Over 5 years the correlation is 0.46, and the annualized covariance of weekly returns is 300.5 %².
Among the 12 assets we track against FLYW, QQQ sits near the bottom by co-movement, at rank #9. The last year tells two different stories: FLYW led by 16.8 percentage points, +43.1% for FLYW against +26.3% for QQQ. Risk is not evenly split, since FLYW carries 2.8 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.
FLYW vs QQQ: side by side
| FLYW (Flywire Corporation - Voting) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +43.1% | +26.3% |
| 5-year return | -57.5% | +95.4% |
| Volatility (ann.) | 54.1% | 19.6% |
| Beta vs S&P 500 | 1.13 | 1.28 |
| Max drawdown (3Y) | -75.7% | -22.8% |
| Market cap | $2.3B | – |
| P/E (trailing) | 69.3 | – |
| 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 | FLYW | QQQ |
|---|---|---|
| 2022 | -35.7% | -32.6% |
| 2023 | -5.4% | +54.9% |
| 2024 | -10.9% | +25.6% |
| 2025 | -31.3% | +20.8% |
| 2026 | +32.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLYW and QQQ good diversifiers for each other?
A fair diversifier. At 0.28, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FLYW and QQQ?
The FLYW/QQQ correlation stands at 0.28 on a 3-year window (1 year: 0.46, 5 years: 0.46), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for FLYW?
A fair diversifier. At 0.28, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.28 mean?
A reading of 0.28 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/flyw-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/flyw-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FLYW correlations · QQQ correlations
