BIT vs QQQ: Correlation
BlackRock Multi-Sector Income Trust (BIT) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BIT and QQQ?
On 3 years of weekly data the BIT/QQQ correlation comes out at 0.52, moderate. Recent behaviour matches the longer record: 0.53 over 1 year against 0.52 over 3. The 5-year figure is 0.50, and annualized covariance runs at 105.6 %².
Out of 11 assets tracked against BIT, QQQ lands near the bottom at #7. Correlation aside, the last 12 months split them widely, with QQQ ahead by 28.6 points (-2.3% versus +26.3%). Risk is not evenly split, since QQQ carries 1.9 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.
BIT vs QQQ: side by side
| BIT (BlackRock Multi-Sector Income Trust) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -2.3% | +26.3% |
| 5-year return | +5.8% | +95.4% |
| Volatility (ann.) | 10.5% | 19.6% |
| Beta vs S&P 500 | 0.42 | 1.28 |
| Max drawdown (3Y) | -11.6% | -22.8% |
| Market cap | $0.7B | – |
| P/E (trailing) | 11.3 | – |
| 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 | BIT | QQQ |
|---|---|---|
| 2022 | -14.6% | -32.6% |
| 2023 | +16.5% | +54.9% |
| 2024 | +7.2% | +25.6% |
| 2025 | -0.7% | +20.8% |
| 2026 | -1.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BIT and QQQ good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BIT and QQQ?
As of 2026-08-27, the correlation of weekly returns between BIT and QQQ is 0.52 over 3 years, 0.53 over 1 year and 0.50 over 5 years.
Is QQQ a good diversifier for BIT?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 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.
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Related comparisons
Hubs: BIT correlations · QQQ correlations
