BHE vs QQQ: Correlation
Benchmark Electronics, Inc. (BHE) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BHE and QQQ?
On 3 years of weekly data the BHE/QQQ correlation comes out at 0.45, moderate. The link has loosened recently: the 1-year correlation (0.33) runs below the 3-year figure (0.45). The 5-year figure is 0.43, and annualized covariance runs at 317.9 %².
Among the 16 assets we track against BHE, QQQ sits near the bottom by co-movement, at rank #13. Their recent paths diverged sharply: over the last 12 months BHE outperformed by 55.1 percentage points (+81.4% for BHE against +26.3% for QQQ). Note the risk asymmetry: BHE runs 1.9 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.
BHE vs QQQ: side by side
| BHE (Benchmark Electronics, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +81.4% | +26.3% |
| 5-year return | +202.1% | +95.4% |
| Volatility (ann.) | 36.4% | 19.6% |
| Beta vs S&P 500 | 1.21 | 1.28 |
| Max drawdown (3Y) | -36.7% | -22.8% |
| Market cap | $2.6B | – |
| P/E (trailing) | 49.5 | – |
| Dividend yield | 0.94% | 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 | BHE | QQQ |
|---|---|---|
| 2022 | +1.1% | -32.6% |
| 2023 | +6.3% | +54.9% |
| 2024 | +67.1% | +25.6% |
| 2025 | -4.2% | +20.8% |
| 2026 | +73.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BHE and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BHE and QQQ?
The BHE/QQQ correlation stands at 0.45 on a 3-year window (1 year: 0.33, 5 years: 0.43), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for BHE?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 mean?
A reading of 0.45 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
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Related comparisons
Hubs: BHE correlations · QQQ correlations
