BFC vs QQQ: Correlation
How closely do Bank First Corporation (BFC) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.28, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BFC and QQQ?
Across a 3-year window, the weekly returns of BFC and QQQ correlate at 0.28, weak. The past 12 months show a weaker link (0.02) than the 3-year average (0.28). Stretching to 5 years gives 0.25, with an annualized covariance of 144.3 %².
Among the 13 assets we track against BFC, QQQ sits near the bottom by co-movement, at rank #10. Over the last 12 months QQQ came out ahead by 7.9 percentage points (+18.4% 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.
BFC vs QQQ: side by side
| BFC (Bank First Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +18.4% | +26.3% |
| 5-year return | +139.3% | +95.4% |
| Volatility (ann.) | 26.7% | 19.6% |
| Beta vs S&P 500 | 0.70 | 1.28 |
| Max drawdown (3Y) | -15.7% | -22.8% |
| Market cap | $1.7B | – |
| P/E (trailing) | 20.0 | – |
| Dividend yield | 1.27% | 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 | BFC | QQQ |
|---|---|---|
| 2022 | +30.0% | -32.6% |
| 2023 | -5.3% | +54.9% |
| 2024 | +16.4% | +25.6% |
| 2025 | +28.7% | +20.8% |
| 2026 | +25.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BFC and QQQ good diversifiers for each other?
Reasonably. At 0.28, BFC and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BFC and QQQ?
The BFC/QQQ correlation stands at 0.28 on a 3-year window (1 year: 0.02, 5 years: 0.25), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for BFC?
Reasonably. At 0.28, BFC and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.28 mean?
On the −1 to +1 scale, 0.28 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: BFC correlations · QQQ correlations
