BIO vs QQQ: Correlation
How closely do Bio-Rad Laboratories, Inc. (BIO) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.23, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BIO and QQQ?
Across a 3-year window, the weekly returns of BIO and QQQ correlate at 0.23, weak. Little has changed lately, as the 1-year reading of 0.23 lands near the 3-year figure. Stretching to 5 years gives 0.39, with an annualized covariance of 174.7 %².
Among the 13 assets we track against BIO, QQQ sits near the bottom by co-movement, at rank #10. The trailing year gives BIO the advantage: +33.2% versus +26.3%, a 6.9-point spread. One caveat on sizing: BIO 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.
BIO vs QQQ: side by side
| BIO (Bio-Rad Laboratories, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +33.2% | +26.3% |
| 5-year return | -52.1% | +95.4% |
| Volatility (ann.) | 38.4% | 19.6% |
| Beta vs S&P 500 | 0.85 | 1.28 |
| Max drawdown (3Y) | -45.9% | -22.8% |
| Market cap | $10.4B | – |
| P/E (trailing) | 47.4 | – |
| 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 | BIO | QQQ |
|---|---|---|
| 2022 | -44.3% | -32.6% |
| 2023 | -23.2% | +54.9% |
| 2024 | +1.7% | +25.6% |
| 2025 | -7.8% | +20.8% |
| 2026 | +28.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BIO and QQQ good diversifiers for each other?
A fair diversifier. At 0.23, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BIO and QQQ?
The BIO/QQQ correlation stands at 0.23 on a 3-year window (1 year: 0.23, 5 years: 0.39), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for BIO?
A fair diversifier. At 0.23, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.23 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/bio-vs-qqq.json
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[](https://www.pairbook.io/pair/bio-vs-qqq/)
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Related comparisons
Hubs: BIO correlations · QQQ correlations
