BCAT vs QQQ: Correlation
Measured on weekly returns over the past three years, BlackRock Capital Allocation Term Trust (BCAT) and Invesco QQQ Trust (QQQ) carry a correlation of 0.65, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BCAT and QQQ?
Across a 3-year window, the weekly returns of BCAT and QQQ correlate at 0.65, strong. Little has changed lately, as the 1-year reading of 0.66 lands near the 3-year figure. Stretching to 5 years gives 0.69, with an annualized covariance of 167.3 %².
QQQ is close to the least connected end of BCAT's tracked universe, ranking #7 of 11. On 12-month performance BCAT holds a 5.9-point edge, +32.2% against +26.3%.
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.
BCAT vs QQQ: side by side
| BCAT (BlackRock Capital Allocation Term Trust) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +32.2% | +26.3% |
| 5-year return | +49.6% | +95.4% |
| Volatility (ann.) | 13.1% | 19.6% |
| Beta vs S&P 500 | 0.60 | 1.28 |
| Max drawdown (3Y) | -13.7% | -22.8% |
| Market cap | $1.7B | – |
| P/E (trailing) | 7.5 | – |
| 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 | BCAT | QQQ |
|---|---|---|
| 2022 | -22.6% | -32.6% |
| 2023 | +19.3% | +54.9% |
| 2024 | +19.4% | +25.6% |
| 2025 | +16.8% | +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 BCAT and QQQ good diversifiers for each other?
Only partially. A correlation of 0.65 means BCAT and QQQ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between BCAT and QQQ?
The BCAT/QQQ correlation stands at 0.65 on a 3-year window (1 year: 0.66, 5 years: 0.69), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for BCAT?
Only partially. A correlation of 0.65 means BCAT and QQQ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.65 mean?
On the −1 to +1 scale, 0.65 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
$ curl https://www.pairbook.io/api/v1/pairs/bcat-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bcat-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BCAT correlations · QQQ correlations
