Does This Affect (good or bad) SEO?

On a site I use for experimenting, I wanted to have a simple way to see how many times I referred visitors to another site (site x). My analytic data will show that a viewer has exited my site, but does not show where the viewer went. I cannot tell if the viewer went to site x or somewhere else.

So I set up a link to a page on my site with a frameset script which brings in and shows the viewer a page of the other site (site x). When the viewer clicks on the link, they actually go to another page on my site, but the content shown is the page from the other site (site x). My analytic data shows how many times my frameset page was clicked on and that is roughly the number that visitors that I referred to site x.

Question: Does this set up affect SEO, either good or bad?

I am considering using this technique on my money site. My experimental site is used by me to try out ideas and scripts and is not SEO'ed or ranked or anything for visitors. So I have no way of knowing whether or not this set up affects SEO.

Thanks for your responses.