BFH vs QQQ: Correlation
How closely do Bread Financial Holdings, Inc. (BFH) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.34, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BFH and QQQ?
On 3 years of weekly data the BFH/QQQ correlation comes out at 0.34, moderate. The past 12 months show a weaker link (0.24) than the 3-year average (0.34). The 5-year figure is 0.39, and annualized covariance runs at 277.2 %².
Among the 11 assets we track against BFH, QQQ sits near the bottom by co-movement, at rank #8. Their recent paths diverged sharply: over the last 12 months BFH outperformed by 40.5 percentage points (+66.8% for BFH against +26.3% for QQQ). Note the risk asymmetry: BFH runs 2.1 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.
BFH vs QQQ: side by side
| BFH (Bread Financial Holdings, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +66.8% | +26.3% |
| 5-year return | +55.9% | +95.4% |
| Volatility (ann.) | 42.0% | 19.6% |
| Beta vs S&P 500 | 1.26 | 1.28 |
| Max drawdown (3Y) | -36.7% | -22.8% |
| Market cap | $4.2B | – |
| P/E (trailing) | 8.3 | – |
| Dividend yield | 0.84% | 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 | BFH | QQQ |
|---|---|---|
| 2022 | -42.4% | -32.6% |
| 2023 | -10.2% | +54.9% |
| 2024 | +89.0% | +25.6% |
| 2025 | +23.1% | +20.8% |
| 2026 | +46.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BFH and QQQ good diversifiers for each other?
Reasonably. At 0.34, BFH and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BFH and QQQ?
Using weekly returns as of 2026-08-27: 0.34 over 3 years, with 0.24 over the last year and 0.39 over 5 years.
Is QQQ a good diversifier for BFH?
Reasonably. At 0.34, BFH and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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
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Related comparisons
Hubs: BFH correlations · QQQ correlations
