FTV vs QQQ: Correlation
Fortive (FTV) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTV and QQQ?
On 3 years of weekly data the FTV/QQQ correlation comes out at 0.45, moderate. The link has loosened recently: the 1-year correlation (0.17) runs below the 3-year figure (0.45). The 5-year figure is 0.57, and annualized covariance runs at 208.0 %².
By 3-year correlation, QQQ places #24 of the 36 assets tracked against FTV. Twelve-month performance is nearly a tie, at +23.9% for FTV and +26.3% for QQQ. This link changes with the market regime, having swung between 0.15 and 0.71 on a rolling one-year basis.
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.
FTV vs QQQ: side by side
| FTV (Fortive) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +23.9% | +26.3% |
| 5-year return | +9.6% | +95.4% |
| Volatility (ann.) | 23.8% | 19.6% |
| Beta vs S&P 500 | 0.92 | 1.28 |
| Max drawdown (3Y) | -28.0% | -22.8% |
| Market cap | $18.1B | – |
| P/E (trailing) | 31.9 | – |
| Dividend yield | 0.20% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Industrials | 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 | FTV | QQQ |
|---|---|---|
| 2022 | -15.4% | -32.6% |
| 2023 | +15.1% | +54.9% |
| 2024 | +2.3% | +25.6% |
| 2025 | -1.9% | +20.8% |
| 2026 | +8.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTV and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FTV and QQQ?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.17 over the last year and 0.57 over 5 years.
Is QQQ a good diversifier for FTV?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 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/ftv-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ftv-vs-qqq/)
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Related comparisons
Hubs: FTV correlations · QQQ correlations
