FXNC vs QQQ: Correlation
Measured on weekly returns over the past three years, First National Corporation (FXNC) and Invesco QQQ Trust (QQQ) carry a correlation of 0.18, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FXNC and QQQ?
On 3 years of weekly data the FXNC/QQQ correlation comes out at 0.18, weak. The past 12 months show a weaker link (0.05) than the 3-year average (0.18). The 5-year figure is 0.19, and annualized covariance runs at 98.2 %².
Within FXNC's tracked universe of 13 assets, QQQ comes in at #8 by 3-year correlation. The trailing year gives FXNC the advantage: +35.9% versus +26.3%, a 9.6-point spread.
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.
FXNC vs QQQ: side by side
| FXNC (First National Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +35.9% | +26.3% |
| 5-year return | +71.2% | +95.4% |
| Volatility (ann.) | 27.4% | 19.6% |
| Beta vs S&P 500 | 0.50 | 1.28 |
| Max drawdown (3Y) | -31.6% | -22.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | 12.9 | – |
| Dividend yield | 2.15% | 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 | FXNC | QQQ |
|---|---|---|
| 2022 | -23.3% | -32.6% |
| 2023 | +31.5% | +54.9% |
| 2024 | +9.3% | +25.6% |
| 2025 | +12.7% | +20.8% |
| 2026 | +24.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FXNC and QQQ good diversifiers for each other?
Yes. With a correlation of 0.18, FXNC and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FXNC and QQQ?
Using weekly returns as of 2026-08-27: 0.18 over 3 years, with 0.05 over the last year and 0.19 over 5 years.
Is QQQ a good diversifier for FXNC?
Yes. With a correlation of 0.18, FXNC and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.18 mean?
A reading of 0.18 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/fxnc-vs-qqq.json
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[](https://www.pairbook.io/pair/fxnc-vs-qqq/)
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Related comparisons
Hubs: FXNC correlations · QQQ correlations
