BGB vs QQQ: Correlation
Blackstone Strategic Credit 2027 Term Fund (BGB) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGB and QQQ?
Across a 3-year window, the weekly returns of BGB and QQQ correlate at 0.57, moderate. Recent behaviour matches the longer record: 0.52 over 1 year against 0.57 over 3. Stretching to 5 years gives 0.49, with an annualized covariance of 103.4 %².
Among the 14 assets we track against BGB, QQQ sits near the bottom by co-movement, at rank #10. The last year tells two different stories: QQQ led by 29.4 percentage points, -3.1% for BGB against +26.3% for QQQ. Note the risk asymmetry: QQQ 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.
BGB vs QQQ: side by side
| BGB (Blackstone Strategic Credit 2027 Term Fund) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -3.1% | +26.3% |
| 5-year return | +23.0% | +95.4% |
| Volatility (ann.) | 9.3% | 19.6% |
| Beta vs S&P 500 | 0.40 | 1.28 |
| Max drawdown (3Y) | -12.8% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 16.7 | – |
| 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 | BGB | QQQ |
|---|---|---|
| 2022 | -16.1% | -32.6% |
| 2023 | +19.5% | +54.9% |
| 2024 | +18.7% | +25.6% |
| 2025 | +4.8% | +20.8% |
| 2026 | -0.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGB and QQQ good diversifiers for each other?
To a limited degree. At 0.57 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between BGB and QQQ?
The BGB/QQQ correlation stands at 0.57 on a 3-year window (1 year: 0.52, 5 years: 0.49), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for BGB?
To a limited degree. At 0.57 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.57 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bgb-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bgb-vs-qqq/)
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Related comparisons
Hubs: BGB correlations · QQQ correlations
