BBN vs QQQ: Correlation
How closely do BlackRock Taxable Municipal Bond Trust (BBN) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.23, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BBN and QQQ?
On 3 years of weekly data the BBN/QQQ correlation comes out at 0.23, weak. Little has changed lately, as the 1-year reading of 0.31 lands near the 3-year figure. The 5-year figure is 0.27, and annualized covariance runs at 55.5 %².
Out of 18 assets tracked against BBN, QQQ lands near the bottom at #15. The last year tells two different stories: QQQ led by 21.9 percentage points, +4.4% for BBN against +26.3% for QQQ. Note the risk asymmetry: QQQ runs 1.6 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.
BBN vs QQQ: side by side
| BBN (BlackRock Taxable Municipal Bond Trust) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +4.4% | +26.3% |
| 5-year return | -14.4% | +95.4% |
| Volatility (ann.) | 12.3% | 19.6% |
| Beta vs S&P 500 | 0.26 | 1.28 |
| Max drawdown (3Y) | -11.8% | -22.8% |
| Market cap | $1.0B | – |
| P/E (trailing) | 12.5 | – |
| 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 | BBN | QQQ |
|---|---|---|
| 2022 | -31.0% | -32.6% |
| 2023 | +3.6% | +54.9% |
| 2024 | +6.0% | +25.6% |
| 2025 | +8.6% | +20.8% |
| 2026 | +2.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BBN and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.23 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BBN and QQQ?
The BBN/QQQ correlation stands at 0.23 on a 3-year window (1 year: 0.31, 5 years: 0.27), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for BBN?
Yes, to a useful degree: a correlation of 0.23 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.23 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
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Related comparisons
Hubs: BBN correlations · QQQ correlations
