FOXF vs QQQ: Correlation
How closely do Fox Factory Holding Corp. (FOXF) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.24, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FOXF and QQQ?
Across a 3-year window, the weekly returns of FOXF and QQQ correlate at 0.24, weak. Little has changed lately, as the 1-year reading of 0.27 lands near the 3-year figure. Stretching to 5 years gives 0.40, with an annualized covariance of 241.8 %².
QQQ is close to the least connected end of FOXF's tracked universe, ranking #10 of 13. Correlation aside, the last 12 months split them widely, with QQQ ahead by 55.3 points (-29.0% versus +26.3%). One caveat on sizing: FOXF 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.
FOXF vs QQQ: side by side
| FOXF (Fox Factory Holding Corp.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -29.0% | +26.3% |
| 5-year return | -86.3% | +95.4% |
| Volatility (ann.) | 52.1% | 19.6% |
| Beta vs S&P 500 | 1.04 | 1.28 |
| Max drawdown (3Y) | -88.1% | -22.8% |
| Market cap | $0.9B | – |
| P/E (trailing) | – | – |
| 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 | FOXF | QQQ |
|---|---|---|
| 2022 | -46.4% | -32.6% |
| 2023 | -26.0% | +54.9% |
| 2024 | -55.1% | +25.6% |
| 2025 | -43.5% | +20.8% |
| 2026 | +23.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FOXF and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.24 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FOXF and QQQ?
Using weekly returns as of 2026-08-27: 0.24 over 3 years, with 0.27 over the last year and 0.40 over 5 years.
Is QQQ a good diversifier for FOXF?
Yes, to a useful degree: a correlation of 0.24 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.24 mean?
A reading of 0.24 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: FOXF correlations · QQQ correlations
