FSP vs QQQ: Correlation
How closely do Franklin Street Properties Corp. (FSP) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.23, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FSP and QQQ?
Across a 3-year window, the weekly returns of FSP and QQQ correlate at 0.23, weak. The relationship has been stable: the 1-year correlation (0.13) sits close to the 3-year figure. Stretching to 5 years gives 0.19, with an annualized covariance of 215.9 %².
Among the 10 assets we track against FSP, QQQ sits near the bottom by co-movement, at rank #7. The last year tells two different stories: QQQ led by 100.9 percentage points, -74.6% for FSP against +26.3% for QQQ. One caveat on sizing: FSP is 2.4 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.
FSP vs QQQ: side by side
| FSP (Franklin Street Properties Corp.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -74.6% | +26.3% |
| 5-year return | -89.6% | +95.4% |
| Volatility (ann.) | 47.1% | 19.6% |
| Beta vs S&P 500 | 1.01 | 1.28 |
| Max drawdown (3Y) | -83.8% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 4.79% | 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 | FSP | QQQ |
|---|---|---|
| 2022 | -52.3% | -32.6% |
| 2023 | -4.1% | +54.9% |
| 2024 | -27.0% | +25.6% |
| 2025 | -46.8% | +20.8% |
| 2026 | -56.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FSP and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.23 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FSP and QQQ?
Using weekly returns as of 2026-08-27: 0.23 over 3 years, with 0.13 over the last year and 0.19 over 5 years.
Is QQQ a good diversifier for FSP?
Yes, to a useful degree: a correlation of 0.23 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.23 mean?
On the −1 to +1 scale, 0.23 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.
Use this data
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[](https://www.pairbook.io/pair/fsp-vs-qqq/)
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Related comparisons
Hubs: FSP correlations · QQQ correlations
