FTNT vs QQQ: Correlation
Fortinet (FTNT) 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 FTNT and QQQ?
On 3 years of weekly data the FTNT/QQQ correlation comes out at 0.38, moderate. Recent behaviour matches the longer record: 0.35 over 1 year against 0.38 over 3. The 5-year figure is 0.51, and annualized covariance runs at 311.5 %².
Among the 32 assets we track against FTNT, QQQ ranks #18 by 3-year correlation. The last year tells two different stories: FTNT led by 94.8 percentage points, +121.1% for FTNT against +26.3% for QQQ. On a rolling one-year basis the correlation drifted between 0.22 and 0.65, a moderate band. Note the risk asymmetry: FTNT runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
FTNT vs QQQ: side by side
| FTNT (Fortinet) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +121.1% | +26.3% |
| 5-year return | +170.5% | +95.4% |
| Volatility (ann.) | 42.1% | 19.6% |
| Beta vs S&P 500 | 1.02 | 1.28 |
| Max drawdown (3Y) | -35.1% | -22.8% |
| Market cap | $126.8B | – |
| P/E (trailing) | 60.8 | – |
| 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 | FTNT | QQQ |
|---|---|---|
| 2022 | -32.0% | -32.6% |
| 2023 | +19.7% | +54.9% |
| 2024 | +61.4% | +25.6% |
| 2025 | -16.0% | +20.8% |
| 2026 | +117.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
FTNT represents 0.51% of QQQ's portfolio, so part of any move in QQQ is FTNT itself, and the correlation between them is partly mechanical.
Are FTNT and QQQ good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FTNT and QQQ?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.35 over the last year and 0.51 over 5 years.
Is QQQ a good diversifier for FTNT?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 mean?
A reading of 0.38 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/ftnt-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ftnt-vs-qqq/)
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Related comparisons
Hubs: FTNT correlations · QQQ correlations
