FSLR vs QQQ: Correlation
How closely do First Solar (FSLR) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.32, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FSLR and QQQ?
Across a 3-year window, the weekly returns of FSLR and QQQ correlate at 0.32, moderate. Little has changed lately, as the 1-year reading of 0.40 lands near the 3-year figure. Stretching to 5 years gives 0.29, with an annualized covariance of 351.8 %².
Among the 34 assets we track against FSLR, QQQ ranks #21 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 16.4 points (+9.9% versus +26.3%). The rolling one-year correlation moved between 0.09 and 0.40 over the past three years, a moderate range. Risk is not evenly split, since FSLR carries 2.9 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.
FSLR vs QQQ: side by side
| FSLR (First Solar) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +9.9% | +26.3% |
| 5-year return | +119.6% | +95.4% |
| Volatility (ann.) | 56.2% | 19.6% |
| Beta vs S&P 500 | 1.14 | 1.28 |
| Max drawdown (3Y) | -60.0% | -22.8% |
| Market cap | $22.6B | – |
| P/E (trailing) | 12.7 | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Information Technology | 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 | FSLR | QQQ |
|---|---|---|
| 2022 | +71.9% | -32.6% |
| 2023 | +15.0% | +54.9% |
| 2024 | +2.3% | +25.6% |
| 2025 | +48.2% | +20.8% |
| 2026 | -19.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FSLR and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FSLR and QQQ?
Using weekly returns as of 2026-08-27: 0.32 over 3 years, with 0.40 over the last year and 0.29 over 5 years.
Is QQQ a good diversifier for FSLR?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.32 mean?
A reading of 0.32 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fslr-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fslr-vs-qqq/)
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Related comparisons
Hubs: FSLR correlations · QQQ correlations
