FMX vs QQQ: Correlation
Fomento Economico Mexicano S.A.B. de C.V. (FMX) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.14.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FMX and QQQ?
Over the past 3 years, FMX and QQQ moved with a correlation of 0.14, which is weak. The past 12 months show a weaker link (-0.05) than the 3-year average (0.14). Over 5 years the correlation is 0.15, and the annualized covariance of weekly returns is 69.9 %².
Out of 10 assets tracked against FMX, QQQ lands near the bottom at #7. Correlation aside, the last 12 months split them widely, with FMX ahead by 16.2 points (+42.5% versus +26.3%).
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.
FMX vs QQQ: side by side
| FMX (Fomento Economico Mexicano S.A.B. de C.V.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +42.5% | +26.3% |
| 5-year return | +63.2% | +95.4% |
| Volatility (ann.) | 25.5% | 19.6% |
| Beta vs S&P 500 | 0.35 | 1.28 |
| Max drawdown (3Y) | -41.3% | -22.8% |
| Market cap | $41.0B | – |
| P/E (trailing) | 23.8 | – |
| 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 | FMX | QQQ |
|---|---|---|
| 2022 | +2.9% | -32.6% |
| 2023 | +70.1% | +54.9% |
| 2024 | -32.6% | +25.6% |
| 2025 | +24.1% | +20.8% |
| 2026 | +22.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FMX and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.14 means the two rarely move for the same reasons.
FAQ
What is the correlation between FMX and QQQ?
As of 2026-08-27, the correlation of weekly returns between FMX and QQQ is 0.14 over 3 years, -0.05 over 1 year and 0.15 over 5 years.
Is QQQ a good diversifier for FMX?
By historical standards, yes. A correlation of 0.14 means the two rarely move for the same reasons.
What does a correlation of 0.14 mean?
A reading of 0.14 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
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[](https://www.pairbook.io/pair/fmx-vs-qqq/)
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Related comparisons
Hubs: FMX correlations · QQQ correlations
