BAFN vs QQQ: Correlation
Measured on weekly returns over the past three years, BayFirst Financial Corp. (BAFN) and Invesco QQQ Trust (QQQ) carry a correlation of 0.13, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BAFN and QQQ?
Across a 3-year window, the weekly returns of BAFN and QQQ correlate at 0.13, weak. The relationship has been stable: the 1-year correlation (0.09) sits close to the 3-year figure. Stretching to 5 years gives 0.12, with an annualized covariance of 126.1 %².
Among the 10 assets we track against BAFN, QQQ sits near the bottom by co-movement, at rank #7. The last year tells two different stories: QQQ led by 54.4 percentage points, -28.1% for BAFN against +26.3% for QQQ. Note the risk asymmetry: BAFN runs 2.4 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
BAFN vs QQQ: side by side
| BAFN (BayFirst Financial Corp.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -28.1% | +26.3% |
| 5-year return | -70.9% | +95.4% |
| Volatility (ann.) | 47.9% | 19.6% |
| Beta vs S&P 500 | 0.67 | 1.28 |
| Max drawdown (3Y) | -76.5% | -22.8% |
| Market cap | $0.2B | – |
| 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 | BAFN | QQQ |
|---|---|---|
| 2022 | -25.3% | -32.6% |
| 2023 | -20.2% | +54.9% |
| 2024 | +4.6% | +25.6% |
| 2025 | -40.4% | +20.8% |
| 2026 | -14.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAFN and QQQ good diversifiers for each other?
Yes. With a correlation of 0.13, BAFN and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BAFN and QQQ?
Using weekly returns as of 2026-08-27: 0.13 over 3 years, with 0.09 over the last year and 0.12 over 5 years.
Is QQQ a good diversifier for BAFN?
Yes. With a correlation of 0.13, BAFN and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.13 mean?
On the −1 to +1 scale, 0.13 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: BAFN correlations · QQQ correlations
