FRPH vs QQQ: Correlation
How closely do FRP Holdings, Inc. (FRPH) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.18, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRPH and QQQ?
Across a 3-year window, the weekly returns of FRPH and QQQ correlate at 0.18, weak. The link has loosened recently: the 1-year correlation (-0.05) runs below the 3-year figure (0.18). Stretching to 5 years gives 0.30, with an annualized covariance of 69.9 %².
QQQ is close to the least connected end of FRPH's tracked universe, ranking #8 of 11. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 40.2 percentage points (-13.9% for FRPH 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.
FRPH vs QQQ: side by side
| FRPH (FRP Holdings, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -13.9% | +26.3% |
| 5-year return | -22.9% | +95.4% |
| Volatility (ann.) | 20.1% | 19.6% |
| Beta vs S&P 500 | 0.38 | 1.28 |
| Max drawdown (3Y) | -36.2% | -22.8% |
| Market cap | $0.4B | – |
| P/E (trailing) | 2223.0 | – |
| 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 | FRPH | QQQ |
|---|---|---|
| 2022 | -6.8% | -32.6% |
| 2023 | +16.7% | +54.9% |
| 2024 | -2.6% | +25.6% |
| 2025 | -25.6% | +20.8% |
| 2026 | -2.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRPH and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between FRPH and QQQ?
The FRPH/QQQ correlation stands at 0.18 on a 3-year window (1 year: -0.05, 5 years: 0.30), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for FRPH?
By historical standards, yes. A correlation of 0.18 means the two rarely move for the same reasons.
What does a correlation of 0.18 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: FRPH correlations · QQQ correlations
