BGX vs QQQ: Correlation
How closely do Blackstone Long Short Credit Income Fund (BGX) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.51, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGX and QQQ?
On 3 years of weekly data the BGX/QQQ correlation comes out at 0.51, moderate. The relationship has been stable: the 1-year correlation (0.46) sits close to the 3-year figure. The 5-year figure is 0.51, and annualized covariance runs at 98.9 %².
QQQ is close to the least connected end of BGX's tracked universe, ranking #10 of 14. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 32.9 percentage points (-6.6% for BGX against +26.3% for QQQ). One caveat on sizing: QQQ is 2.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
BGX vs QQQ: side by side
| BGX (Blackstone Long Short Credit Income Fund) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -6.6% | +26.3% |
| 5-year return | +15.1% | +95.4% |
| Volatility (ann.) | 10.0% | 19.6% |
| Beta vs S&P 500 | 0.39 | 1.28 |
| Max drawdown (3Y) | -14.1% | -22.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | 15.3 | – |
| 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 | BGX | QQQ |
|---|---|---|
| 2022 | -20.6% | -32.6% |
| 2023 | +18.9% | +54.9% |
| 2024 | +19.8% | +25.6% |
| 2025 | +2.1% | +20.8% |
| 2026 | -3.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGX and QQQ good diversifiers for each other?
To a limited degree. At 0.51 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 BGX and QQQ?
The BGX/QQQ correlation stands at 0.51 on a 3-year window (1 year: 0.46, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for BGX?
To a limited degree. At 0.51 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 0.51 mean?
A reading of 0.51 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bgx-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bgx-vs-qqq/)
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Related comparisons
Hubs: BGX correlations · QQQ correlations
