BCS vs QQQ: Correlation
Measured on weekly returns over the past three years, Barclays PLC (BCS) and Invesco QQQ Trust (QQQ) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BCS and QQQ?
Across a 3-year window, the weekly returns of BCS and QQQ correlate at 0.47, moderate. Little has changed lately, as the 1-year reading of 0.48 lands near the 3-year figure. Stretching to 5 years gives 0.45, with an annualized covariance of 286.1 %².
By 3-year correlation, QQQ places #10 of the 15 assets tracked against BCS. On 12-month performance BCS holds a 10.3-point edge, +36.6% against +26.3%. Note the risk asymmetry: BCS 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.
BCS vs QQQ: side by side
| BCS (Barclays PLC) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +36.6% | +26.3% |
| 5-year return | +214.7% | +95.4% |
| Volatility (ann.) | 30.9% | 19.6% |
| Beta vs S&P 500 | 1.27 | 1.28 |
| Max drawdown (3Y) | -26.2% | -22.8% |
| Market cap | $90.3B | – |
| P/E (trailing) | 10.3 | – |
| Dividend yield | 0.42% | 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 | BCS | QQQ |
|---|---|---|
| 2022 | -21.9% | -32.6% |
| 2023 | +6.0% | +54.9% |
| 2024 | +76.3% | +25.6% |
| 2025 | +96.5% | +20.8% |
| 2026 | +8.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BCS and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BCS and QQQ?
The BCS/QQQ correlation stands at 0.47 on a 3-year window (1 year: 0.48, 5 years: 0.45), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for BCS?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 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.
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Related comparisons
Hubs: BCS correlations · QQQ correlations
