FPI vs QQQ: Correlation
Farmland Partners Inc. (FPI) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FPI and QQQ?
Over the past 3 years, FPI and QQQ moved with a correlation of 0.27, which is weak. The past 12 months show a weaker link (0.14) than the 3-year average (0.27). Over 5 years the correlation is 0.30, and the annualized covariance of weekly returns is 126.0 %².
Out of 11 assets tracked against FPI, QQQ lands near the bottom at #8. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 28.9 percentage points (-2.6% for FPI against +26.3% for QQQ).
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.
FPI vs QQQ: side by side
| FPI (Farmland Partners Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -2.6% | +26.3% |
| 5-year return | +8.2% | +95.4% |
| Volatility (ann.) | 23.7% | 19.6% |
| Beta vs S&P 500 | 0.53 | 1.28 |
| Max drawdown (3Y) | -27.0% | -22.8% |
| Market cap | $0.5B | – |
| P/E (trailing) | 20.1 | – |
| Dividend yield | 2.90% | 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 | FPI | QQQ |
|---|---|---|
| 2022 | +6.1% | -32.6% |
| 2023 | +4.0% | +54.9% |
| 2024 | +5.7% | +25.6% |
| 2025 | -14.1% | +20.8% |
| 2026 | +8.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FPI and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FPI and QQQ?
As of 2026-08-27, the correlation of weekly returns between FPI and QQQ is 0.27 over 3 years, 0.14 over 1 year and 0.30 over 5 years.
Is QQQ a good diversifier for FPI?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.27 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: FPI correlations · QQQ correlations
