FRAF vs QQQ: Correlation
Measured on weekly returns over the past three years, Franklin Financial Services Corporation (FRAF) and Invesco QQQ Trust (QQQ) carry a correlation of 0.06, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRAF and QQQ?
On 3 years of weekly data the FRAF/QQQ correlation comes out at 0.06, near zero, meaning they move largely independently. Lately the two have moved closer together, with the 1-year correlation at 0.17 versus 0.06 over 3 years. The 5-year figure is 0.08, and annualized covariance runs at 35.5 %².
Among the 15 assets we track against FRAF, QQQ ranks #7 by 3-year correlation. Over the last 12 months FRAF came out ahead by 10.5 percentage points (+36.8% against +26.3%). Note the risk asymmetry: FRAF runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
FRAF vs QQQ: side by side
| FRAF (Franklin Financial Services Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +36.8% | +26.3% |
| 5-year return | +133.8% | +95.4% |
| Volatility (ann.) | 31.7% | 19.6% |
| Beta vs S&P 500 | 0.22 | 1.28 |
| Max drawdown (3Y) | -25.5% | -22.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | 11.3 | – |
| Dividend yield | 2.14% | 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 | FRAF | QQQ |
|---|---|---|
| 2022 | +13.5% | -32.6% |
| 2023 | -8.8% | +54.9% |
| 2024 | -1.4% | +25.6% |
| 2025 | +73.5% | +20.8% |
| 2026 | +25.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRAF and QQQ good diversifiers for each other?
Yes. With a correlation of 0.06, FRAF and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FRAF and QQQ?
Using weekly returns as of 2026-08-27: 0.06 over 3 years, with 0.17 over the last year and 0.08 over 5 years.
Is QQQ a good diversifier for FRAF?
Yes. With a correlation of 0.06, FRAF and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.06 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.
Use this data
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Related comparisons
Hubs: FRAF correlations · QQQ correlations
