FN vs QQQ: Correlation
Fabrinet (FN) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FN and QQQ?
On 3 years of weekly data the FN/QQQ correlation comes out at 0.52, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.33 versus 0.52 over 3 years. The 5-year figure is 0.50, and annualized covariance runs at 567.8 %².
Within FN's tracked universe of 13 assets, QQQ comes in at #8 by 3-year correlation. Twelve-month performance is nearly a tie, at +30.2% for FN and +26.3% for QQQ. One caveat on sizing: FN is 2.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
FN vs QQQ: side by side
| FN (Fabrinet) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +30.2% | +26.3% |
| 5-year return | +317.1% | +95.4% |
| Volatility (ann.) | 55.4% | 19.6% |
| Beta vs S&P 500 | 1.97 | 1.28 |
| Max drawdown (3Y) | -44.5% | -22.8% |
| Market cap | $15.5B | – |
| P/E (trailing) | 33.2 | – |
| 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 | FN | QQQ |
|---|---|---|
| 2022 | +8.2% | -32.6% |
| 2023 | +48.4% | +54.9% |
| 2024 | +15.5% | +25.6% |
| 2025 | +107.1% | +20.8% |
| 2026 | -5.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FN and QQQ good diversifiers for each other?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between FN and QQQ?
The FN/QQQ correlation stands at 0.52 on a 3-year window (1 year: 0.33, 5 years: 0.50), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for FN?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.52 mean?
On the −1 to +1 scale, 0.52 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/fn-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fn-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FN correlations · QQQ correlations
