BBY vs QQQ: Correlation
Measured on weekly returns over the past three years, Best Buy (BBY) and Invesco QQQ Trust (QQQ) carry a correlation of 0.30, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BBY and QQQ?
Over the past 3 years, BBY and QQQ moved with a correlation of 0.30, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.19 versus 0.30 over 3 years. Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 217.2 %².
By 3-year correlation, QQQ places #23 of the 33 assets tracked against BBY. Over the last 12 months QQQ came out ahead by 9.4 percentage points (+16.9% against +26.3%). The relationship is regime-dependent: the rolling one-year correlation swung between -0.03 and 0.61 over the past three years, so this pair behaves very differently depending on the market environment. One caveat on sizing: BBY is 1.9 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.
BBY vs QQQ: side by side
| BBY (Best Buy) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +16.9% | +26.3% |
| 5-year return | -11.2% | +95.4% |
| Volatility (ann.) | 37.6% | 19.6% |
| Beta vs S&P 500 | 0.97 | 1.28 |
| Max drawdown (3Y) | -44.3% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 16.2 | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Consumer Discretionary | 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 | BBY | QQQ |
|---|---|---|
| 2022 | -17.5% | -32.6% |
| 2023 | +2.5% | +54.9% |
| 2024 | +14.4% | +25.6% |
| 2025 | -17.8% | +20.8% |
| 2026 | +28.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BBY and QQQ good diversifiers for each other?
A fair diversifier. At 0.30, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BBY and QQQ?
The BBY/QQQ correlation stands at 0.30 on a 3-year window (1 year: 0.19, 5 years: 0.43), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for BBY?
A fair diversifier. At 0.30, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.30 mean?
A reading of 0.30 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: BBY correlations · QQQ correlations
