FTRE vs QQQ: Correlation
How closely do Fortrea Holdings Inc. (FTRE) 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 FTRE and QQQ?
On 3 years of weekly data the FTRE/QQQ correlation comes out at 0.23, weak. The relationship has been stable: the 1-year correlation (0.21) sits close to the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at 351.8 %².
Among the 12 assets we track against FTRE, QQQ sits near the bottom by co-movement, at rank #9. Their recent paths diverged sharply: over the last 12 months FTRE outperformed by 82.6 percentage points (+108.9% for FTRE against +26.3% for QQQ). One caveat on sizing: FTRE is 4.0 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.
FTRE vs QQQ: side by side
| FTRE (Fortrea Holdings Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +108.9% | +26.3% |
| 5-year return | n/a | +95.4% |
| Volatility (ann.) | 78.9% | 19.6% |
| Beta vs S&P 500 | 1.59 | 1.28 |
| Max drawdown (3Y) | -89.9% | -22.8% |
| Market cap | $1.8B | – |
| P/E (trailing) | – | – |
| 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 | FTRE | QQQ |
|---|---|---|
| 2022 | – | -32.6% |
| 2023 | – | +54.9% |
| 2024 | -46.6% | +25.6% |
| 2025 | -7.5% | +20.8% |
| 2026 | +9.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTRE and QQQ good diversifiers for each other?
Reasonably. At 0.23, FTRE and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FTRE and QQQ?
The FTRE/QQQ correlation stands at 0.23 on a 3-year window (1 year: 0.21, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for FTRE?
Reasonably. At 0.23, FTRE and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.23 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ftre-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ftre-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FTRE correlations · QQQ correlations
