FRHC vs QQQ: Correlation
How closely do Freedom Holding Corp. (FRHC) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.30, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRHC and QQQ?
On 3 years of weekly data the FRHC/QQQ correlation comes out at 0.30, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.14 versus 0.30 over 3 years. The 5-year figure is 0.41, and annualized covariance runs at 230.9 %².
Among the 12 assets we track against FRHC, QQQ ranks #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 28.2 points (-1.9% versus +26.3%). Risk is not evenly split, since FRHC carries 2.0 times the volatility of the other side.
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.
FRHC vs QQQ: side by side
| FRHC (Freedom Holding Corp.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -1.9% | +26.3% |
| 5-year return | +163.7% | +95.4% |
| Volatility (ann.) | 39.9% | 19.6% |
| Beta vs S&P 500 | 0.87 | 1.28 |
| Max drawdown (3Y) | -41.1% | -22.8% |
| Market cap | $10.9B | – |
| P/E (trailing) | 71.1 | – |
| 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 | FRHC | QQQ |
|---|---|---|
| 2022 | -16.0% | -32.6% |
| 2023 | +38.4% | +54.9% |
| 2024 | +62.1% | +25.6% |
| 2025 | -6.9% | +20.8% |
| 2026 | +40.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRHC and QQQ good diversifiers for each other?
A fair diversifier. At 0.30, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FRHC and QQQ?
As of 2026-08-27, the correlation of weekly returns between FRHC and QQQ is 0.30 over 3 years, 0.14 over 1 year and 0.41 over 5 years.
Is QQQ a good diversifier for FRHC?
A fair diversifier. At 0.30, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.30 mean?
A reading of 0.30 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: FRHC correlations · QQQ correlations
