FOUR vs QQQ: Correlation
Shift4 Payments, Inc. (FOUR) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FOUR and QQQ?
On 3 years of weekly data the FOUR/QQQ correlation comes out at 0.33, moderate. Lately the two have drifted apart, with the 1-year correlation at -0.01 versus 0.33 over 3 years. The 5-year figure is 0.40, and annualized covariance runs at 336.6 %².
Among the 20 assets we track against FOUR, QQQ sits near the bottom by co-movement, at rank #17. Correlation aside, the last 12 months split them widely, with QQQ ahead by 77.6 points (-51.3% versus +26.3%). One caveat on sizing: FOUR is 2.7 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.
FOUR vs QQQ: side by side
| FOUR (Shift4 Payments, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -51.3% | +26.3% |
| 5-year return | -48.7% | +95.4% |
| Volatility (ann.) | 52.8% | 19.6% |
| Beta vs S&P 500 | 1.43 | 1.28 |
| Max drawdown (3Y) | -71.6% | -22.8% |
| Market cap | $3.5B | – |
| P/E (trailing) | 68.7 | – |
| 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 | FOUR | QQQ |
|---|---|---|
| 2022 | -3.5% | -32.6% |
| 2023 | +32.9% | +54.9% |
| 2024 | +39.6% | +25.6% |
| 2025 | -39.3% | +20.8% |
| 2026 | -30.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FOUR and QQQ good diversifiers for each other?
Reasonably. At 0.33, FOUR and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FOUR and QQQ?
The FOUR/QQQ correlation stands at 0.33 on a 3-year window (1 year: -0.01, 5 years: 0.40), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for FOUR?
Reasonably. At 0.33, FOUR and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.33 mean?
On the −1 to +1 scale, 0.33 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.
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Related comparisons
Hubs: FOUR correlations · QQQ correlations
