BE vs QQQ: Correlation
Measured on weekly returns over the past three years, Bloom Energy Corporation (BE) and Invesco QQQ Trust (QQQ) carry a correlation of 0.37, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BE and QQQ?
Over the past 3 years, BE and QQQ moved with a correlation of 0.37, which is moderate. The past 12 months show a tighter link (0.58) than the 3-year average (0.37). Over 5 years the correlation is 0.40, and the annualized covariance of weekly returns is 674.1 %².
Among the 12 assets we track against BE, QQQ ranks #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with BE ahead by 302.1 points (+328.4% versus +26.3%). Risk is not evenly split, since BE carries 4.8 times the volatility of the other side.
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.
BE vs QQQ: side by side
| BE (Bloom Energy Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +328.4% | +26.3% |
| 5-year return | +914.6% | +95.4% |
| Volatility (ann.) | 94.3% | 19.6% |
| Beta vs S&P 500 | 2.56 | 1.28 |
| Max drawdown (3Y) | -52.7% | -22.8% |
| Market cap | $64.2B | – |
| P/E (trailing) | 286.6 | – |
| 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 | BE | QQQ |
|---|---|---|
| 2022 | -12.8% | -32.6% |
| 2023 | -22.6% | +54.9% |
| 2024 | +50.1% | +25.6% |
| 2025 | +291.2% | +20.8% |
| 2026 | +150.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BE and QQQ good diversifiers for each other?
Reasonably. At 0.37, BE and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BE and QQQ?
The BE/QQQ correlation stands at 0.37 on a 3-year window (1 year: 0.58, 5 years: 0.40), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for BE?
Reasonably. At 0.37, BE and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 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.
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Related comparisons
Hubs: BE correlations · QQQ correlations
