FNLC vs QQQ: Correlation
Measured on weekly returns over the past three years, First Bancorp, Inc (ME) (FNLC) and Invesco QQQ Trust (QQQ) carry a correlation of 0.09, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNLC and QQQ?
Across a 3-year window, the weekly returns of FNLC and QQQ correlate at 0.09, near zero, meaning they move largely independently. The past 12 months show a weaker link (-0.20) than the 3-year average (0.09). Stretching to 5 years gives 0.19, with an annualized covariance of 53.4 %².
Among the 17 assets we track against FNLC, QQQ sits near the bottom by co-movement, at rank #14. On 12-month performance FNLC holds a 7.1-point edge, +33.4% against +26.3%. One caveat on sizing: FNLC is 1.5 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.
FNLC vs QQQ: side by side
| FNLC (First Bancorp, Inc (ME)) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +33.4% | +26.3% |
| 5-year return | +51.0% | +95.4% |
| Volatility (ann.) | 29.5% | 19.6% |
| Beta vs S&P 500 | 0.46 | 1.28 |
| Max drawdown (3Y) | -25.0% | -22.8% |
| Market cap | $0.4B | – |
| P/E (trailing) | 10.2 | – |
| Dividend yield | 4.32% | 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 | FNLC | QQQ |
|---|---|---|
| 2022 | -0.4% | -32.6% |
| 2023 | -0.5% | +54.9% |
| 2024 | +2.5% | +25.6% |
| 2025 | +2.3% | +20.8% |
| 2026 | +35.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNLC and QQQ good diversifiers for each other?
Yes. With a correlation of 0.09, FNLC and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNLC and QQQ?
The FNLC/QQQ correlation stands at 0.09 on a 3-year window (1 year: -0.20, 5 years: 0.19), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for FNLC?
Yes. With a correlation of 0.09, FNLC and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.09 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.
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Related comparisons
Hubs: FNLC correlations · QQQ correlations
