FSK vs QQQ: Correlation
FS KKR Capital Corp. (FSK) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FSK and QQQ?
Across a 3-year window, the weekly returns of FSK and QQQ correlate at 0.26, weak. Little has changed lately, as the 1-year reading of 0.28 lands near the 3-year figure. Stretching to 5 years gives 0.36, with an annualized covariance of 137.5 %².
Out of 17 assets tracked against FSK, QQQ lands near the bottom at #14. The last year tells two different stories: QQQ led by 45.4 percentage points, -19.1% for FSK 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.
FSK vs QQQ: side by side
| FSK (FS KKR Capital Corp.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -19.1% | +26.3% |
| 5-year return | +10.8% | +95.4% |
| Volatility (ann.) | 26.7% | 19.6% |
| Beta vs S&P 500 | 0.63 | 1.28 |
| Max drawdown (3Y) | -51.0% | -22.8% |
| Market cap | $3.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 17.68% | 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 | FSK | QQQ |
|---|---|---|
| 2022 | -4.7% | -32.6% |
| 2023 | +33.0% | +54.9% |
| 2024 | +25.7% | +25.6% |
| 2025 | -20.4% | +20.8% |
| 2026 | -9.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FSK and QQQ good diversifiers for each other?
Reasonably. At 0.26, FSK and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FSK and QQQ?
Using weekly returns as of 2026-08-27: 0.26 over 3 years, with 0.28 over the last year and 0.36 over 5 years.
Is QQQ a good diversifier for FSK?
Reasonably. At 0.26, FSK and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.26 mean?
On the −1 to +1 scale, 0.26 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.
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Related comparisons
Hubs: FSK correlations · QQQ correlations
