FRNM vs QQQ: Correlation
Freenome, Inc. (FRNM) and Invesco QQQ Trust (QQQ) show a near-zero relationship: their 3-year correlation of weekly returns is 0.00.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRNM and QQQ?
Over the past 3 years, FRNM and QQQ moved with a correlation of 0.00, which is near zero, meaning they move largely independently. Little has changed lately, as the 1-year reading of -0.02 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 0.5 %².
Among the 34 assets we track against FRNM, QQQ ranks #10 by 3-year correlation. The trailing year gives FRNM the advantage: +32.3% versus +26.3%, a 6.0-point spread.
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.
FRNM vs QQQ: side by side
| FRNM (Freenome, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +32.3% | +26.3% |
| 5-year return | n/a | +95.4% |
| Volatility (ann.) | 21.1% | 19.6% |
| Beta vs S&P 500 | 0.03 | 1.28 |
| Max drawdown (3Y) | -29.6% | -22.8% |
| Market cap | $1.5B | – |
| 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 | FRNM | QQQ |
|---|---|---|
| 2022 | – | -32.6% |
| 2023 | – | +54.9% |
| 2024 | – | +25.6% |
| 2025 | +28.0% | +20.8% |
| 2026 | +7.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRNM and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.00 means the two rarely move for the same reasons.
FAQ
What is the correlation between FRNM and QQQ?
As of 2026-08-27, the correlation of weekly returns between FRNM and QQQ is 0.00 over 3 years, -0.02 over 1 year and n/a over 5 years.
Is QQQ a good diversifier for FRNM?
By historical standards, yes. A correlation of 0.00 means the two rarely move for the same reasons.
What does a correlation of 0.00 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: FRNM correlations · QQQ correlations
