BJ vs QQQ: Correlation
How closely do BJ's Wholesale Club Holdings, Inc. (BJ) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of -0.08, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BJ and QQQ?
Across a 3-year window, the weekly returns of BJ and QQQ correlate at -0.08, near zero, meaning they move largely independently. The link has loosened recently: the 1-year correlation (-0.42) runs below the 3-year figure (-0.08). Stretching to 5 years gives 0.12, with an annualized covariance of -41.2 %².
Within BJ's tracked universe of 43 assets, QQQ comes in at #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 33.2 percentage points (-6.9% for BJ against +26.3% for QQQ).
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.
BJ vs QQQ: side by side
| BJ (BJ's Wholesale Club Holdings, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -6.9% | +26.3% |
| 5-year return | +59.5% | +95.4% |
| Volatility (ann.) | 26.4% | 19.6% |
| Beta vs S&P 500 | -0.14 | 1.28 |
| Max drawdown (3Y) | -30.1% | -22.8% |
| Market cap | $11.4B | – |
| P/E (trailing) | 20.4 | – |
| 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 | BJ | QQQ |
|---|---|---|
| 2022 | -1.2% | -32.6% |
| 2023 | +0.8% | +54.9% |
| 2024 | +34.0% | +25.6% |
| 2025 | +0.8% | +20.8% |
| 2026 | +0.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BJ and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of -0.08 means the two rarely move for the same reasons.
FAQ
What is the correlation between BJ and QQQ?
Using weekly returns as of 2026-08-27: -0.08 over 3 years, with -0.42 over the last year and 0.12 over 5 years.
Is QQQ a good diversifier for BJ?
By historical standards, yes. A correlation of -0.08 means the two rarely move for the same reasons.
What does a correlation of -0.08 mean?
On the −1 to +1 scale, -0.08 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
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Related comparisons
Hubs: BJ correlations · QQQ correlations
