FOX vs QQQ: Correlation
How closely do Fox Corporation (Class B) (FOX) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.18, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FOX and QQQ?
Across a 3-year window, the weekly returns of FOX and QQQ correlate at 0.18, weak. Recent behaviour matches the longer record: 0.10 over 1 year against 0.18 over 3. Stretching to 5 years gives 0.25, with an annualized covariance of 102.9 %².
Among the 32 assets we track against FOX, QQQ ranks #22 by 3-year correlation. The trailing year gives QQQ the advantage: +12.2% versus +26.3%, a 14.1-point spread. The relationship is regime-dependent: the rolling one-year correlation swung between -0.26 and 0.48 over the past three years, so this pair behaves very differently depending on the market environment.
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.
FOX vs QQQ: side by side
| FOX (Fox Corporation (Class B)) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +12.2% | +26.3% |
| 5-year return | +88.7% | +95.4% |
| Volatility (ann.) | 28.5% | 19.6% |
| Beta vs S&P 500 | 0.58 | 1.28 |
| Max drawdown (3Y) | -34.1% | -22.8% |
| Market cap | $25.4B | – |
| P/E (trailing) | 16.2 | – |
| Dividend yield | 0.90% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Communication Services | 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 | FOX | QQQ |
|---|---|---|
| 2022 | -15.8% | -32.6% |
| 2023 | -1.2% | +54.9% |
| 2024 | +68.3% | +25.6% |
| 2025 | +43.4% | +20.8% |
| 2026 | -6.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FOX and QQQ good diversifiers for each other?
Yes. With a correlation of 0.18, FOX and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FOX and QQQ?
As of 2026-08-27, the correlation of weekly returns between FOX and QQQ is 0.18 over 3 years, 0.10 over 1 year and 0.25 over 5 years.
Is QQQ a good diversifier for FOX?
Yes. With a correlation of 0.18, FOX and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.18 mean?
A reading of 0.18 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: FOX correlations · QQQ correlations
