FUSE vs QQQ: Correlation
Fusemachines Inc. (FUSE) and Invesco QQQ Trust (QQQ) show a near-zero relationship: their 3-year correlation of weekly returns is 0.02.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FUSE and QQQ?
Across a 3-year window, the weekly returns of FUSE and QQQ correlate at 0.02, near zero, meaning they move largely independently. The past 12 months show a tighter link (0.18) than the 3-year average (0.02). Stretching to 5 years gives 0.01, with an annualized covariance of 42.6 %².
Among the 15 assets we track against FUSE, QQQ ranks #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 120.9 points (-94.6% versus +26.3%). One caveat on sizing: FUSE is 5.7 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.
FUSE vs QQQ: side by side
| FUSE (Fusemachines Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -94.6% | +26.3% |
| 5-year return | -92.2% | +95.4% |
| Volatility (ann.) | 111.4% | 19.6% |
| Beta vs S&P 500 | 0.31 | 1.28 |
| Max drawdown (3Y) | -96.0% | -22.8% |
| Market cap | – | – |
| 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 | FUSE | QQQ |
|---|---|---|
| 2022 | – | -32.6% |
| 2023 | +7.6% | +54.9% |
| 2024 | +5.6% | +25.6% |
| 2025 | -85.7% | +20.8% |
| 2026 | -53.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FUSE and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.02 means the two rarely move for the same reasons.
FAQ
What is the correlation between FUSE and QQQ?
The FUSE/QQQ correlation stands at 0.02 on a 3-year window (1 year: 0.18, 5 years: 0.01), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for FUSE?
By historical standards, yes. A correlation of 0.02 means the two rarely move for the same reasons.
What does a correlation of 0.02 mean?
On the −1 to +1 scale, 0.02 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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Related comparisons
Hubs: FUSE correlations · QQQ correlations
