FOXA vs QQQ: Correlation
Measured on weekly returns over the past three years, Fox Corporation (Class A) (FOXA) and Invesco QQQ Trust (QQQ) carry a correlation of 0.17, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FOXA and QQQ?
Over the past 3 years, FOXA and QQQ moved with a correlation of 0.17, which is weak. The relationship has been stable: the 1-year correlation (0.11) sits close to the 3-year figure. Over 5 years the correlation is 0.23, and the annualized covariance of weekly returns is 99.2 %².
Within FOXA's tracked universe of 33 assets, QQQ comes in at #22 by 3-year correlation. The trailing year gives QQQ the advantage: +14.0% versus +26.3%, a 12.3-point spread. This link changes with the market regime, having swung between -0.25 and 0.46 on a rolling one-year basis.
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.
FOXA vs QQQ: side by side
| FOXA (Fox Corporation (Class A)) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +14.0% | +26.3% |
| 5-year return | +93.4% | +95.4% |
| Volatility (ann.) | 29.3% | 19.6% |
| Beta vs S&P 500 | 0.56 | 1.28 |
| Max drawdown (3Y) | -35.6% | -22.8% |
| Market cap | $28.3B | – |
| P/E (trailing) | 18.1 | – |
| Dividend yield | 0.80% | 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 | FOXA | QQQ |
|---|---|---|
| 2022 | -16.6% | -32.6% |
| 2023 | -0.8% | +54.9% |
| 2024 | +66.3% | +25.6% |
| 2025 | +51.8% | +20.8% |
| 2026 | -7.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FOXA and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between FOXA and QQQ?
The FOXA/QQQ correlation stands at 0.17 on a 3-year window (1 year: 0.11, 5 years: 0.23), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for FOXA?
By historical standards, yes. A correlation of 0.17 means the two rarely move for the same reasons.
What does a correlation of 0.17 mean?
On the −1 to +1 scale, 0.17 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
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Related comparisons
Hubs: FOXA correlations · QQQ correlations
