BHK vs QQQ: Correlation
Measured on weekly returns over the past three years, Blackrock Core Bond Trust (BHK) and Invesco QQQ Trust (QQQ) carry a correlation of 0.24, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BHK and QQQ?
Over the past 3 years, BHK and QQQ moved with a correlation of 0.24, which is weak. The past 12 months show a tighter link (0.43) than the 3-year average (0.24). Over 5 years the correlation is 0.34, and the annualized covariance of weekly returns is 58.6 %².
Out of 17 assets tracked against BHK, QQQ lands near the bottom at #14. The last year tells two different stories: QQQ led by 22.1 percentage points, +4.2% for BHK against +26.3% for QQQ. Risk is not evenly split, since QQQ carries 1.6 times the volatility of the other side.
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.
BHK vs QQQ: side by side
| BHK (Blackrock Core Bond Trust) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +4.2% | +26.3% |
| 5-year return | -15.3% | +95.4% |
| Volatility (ann.) | 12.4% | 19.6% |
| Beta vs S&P 500 | 0.28 | 1.28 |
| Max drawdown (3Y) | -16.6% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 12.9 | – |
| Dividend yield | 9.85% | 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 | BHK | QQQ |
|---|---|---|
| 2022 | -32.6% | -32.6% |
| 2023 | +14.3% | +54.9% |
| 2024 | +3.9% | +25.6% |
| 2025 | +0.3% | +20.8% |
| 2026 | +1.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BHK and QQQ good diversifiers for each other?
A fair diversifier. At 0.24, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BHK and QQQ?
As of 2026-08-27, the correlation of weekly returns between BHK and QQQ is 0.24 over 3 years, 0.43 over 1 year and 0.34 over 5 years.
Is QQQ a good diversifier for BHK?
A fair diversifier. At 0.24, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.24 mean?
On the −1 to +1 scale, 0.24 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
$ curl https://www.pairbook.io/api/v1/pairs/bhk-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bhk-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BHK correlations · QQQ correlations
