FRSH vs QQQ: Correlation
Freshworks Inc. (FRSH) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRSH and QQQ?
On 3 years of weekly data the FRSH/QQQ correlation comes out at 0.38, moderate. The link has loosened recently: the 1-year correlation (0.18) runs below the 3-year figure (0.38). The 5-year figure is 0.46, and annualized covariance runs at 364.0 %².
Within FRSH's tracked universe of 28 assets, QQQ comes in at #21 by 3-year correlation. The last year tells two different stories: QQQ led by 25.7 percentage points, +0.6% for FRSH against +26.3% for QQQ. One caveat on sizing: FRSH is 2.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
FRSH vs QQQ: side by side
| FRSH (Freshworks Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +0.6% | +26.3% |
| 5-year return | -71.2% | +95.4% |
| Volatility (ann.) | 48.9% | 19.6% |
| Beta vs S&P 500 | 1.46 | 1.28 |
| Max drawdown (3Y) | -71.9% | -22.8% |
| Market cap | $3.6B | – |
| P/E (trailing) | 20.4 | – |
| 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 | FRSH | QQQ |
|---|---|---|
| 2022 | -44.0% | -32.6% |
| 2023 | +59.7% | +54.9% |
| 2024 | -31.2% | +25.6% |
| 2025 | -24.2% | +20.8% |
| 2026 | +11.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRSH and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FRSH and QQQ?
The FRSH/QQQ correlation stands at 0.38 on a 3-year window (1 year: 0.18, 5 years: 0.46), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for FRSH?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 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: FRSH correlations · QQQ correlations
