FRD vs QQQ: Correlation
Friedman Industries Inc. (FRD) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRD and QQQ?
Across a 3-year window, the weekly returns of FRD and QQQ correlate at 0.34, moderate. The relationship has been stable: the 1-year correlation (0.41) sits close to the 3-year figure. Stretching to 5 years gives 0.33, with an annualized covariance of 334.9 %².
Among the 12 assets we track against FRD, QQQ ranks #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FRD ahead by 111.5 points (+137.8% versus +26.3%). Note the risk asymmetry: FRD runs 2.6 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.
FRD vs QQQ: side by side
| FRD (Friedman Industries Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +137.8% | +26.3% |
| 5-year return | +282.9% | +95.4% |
| Volatility (ann.) | 50.1% | 19.6% |
| Beta vs S&P 500 | 1.10 | 1.28 |
| Max drawdown (3Y) | -34.6% | -22.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | 11.7 | – |
| Dividend yield | 0.38% | 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 | FRD | QQQ |
|---|---|---|
| 2022 | +5.3% | -32.6% |
| 2023 | +59.0% | +54.9% |
| 2024 | -0.3% | +25.6% |
| 2025 | +35.3% | +20.8% |
| 2026 | +120.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRD and QQQ good diversifiers for each other?
Reasonably. At 0.34, FRD and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FRD and QQQ?
As of 2026-08-27, the correlation of weekly returns between FRD and QQQ is 0.34 over 3 years, 0.41 over 1 year and 0.33 over 5 years.
Is QQQ a good diversifier for FRD?
Reasonably. At 0.34, FRD and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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: FRD correlations · QQQ correlations
