BKH vs QQQ: Correlation
Measured on weekly returns over the past three years, Black Hills Corporation (BKH) and Invesco QQQ Trust (QQQ) carry a correlation of 0.07, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BKH and QQQ?
Across a 3-year window, the weekly returns of BKH and QQQ correlate at 0.07, near zero, meaning they move largely independently. The relationship has been stable: the 1-year correlation (0.08) sits close to the 3-year figure. Stretching to 5 years gives 0.22, with an annualized covariance of 28.0 %².
Out of 13 assets tracked against BKH, QQQ lands near the bottom at #10. Neither side won the trailing year by much: +26.5% against +26.3%.
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.
BKH vs QQQ: side by side
| BKH (Black Hills Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +26.5% | +26.3% |
| 5-year return | +27.4% | +95.4% |
| Volatility (ann.) | 21.5% | 19.6% |
| Beta vs S&P 500 | 0.32 | 1.28 |
| Max drawdown (3Y) | -14.1% | -22.8% |
| Market cap | $5.6B | – |
| P/E (trailing) | 18.5 | – |
| Dividend yield | 3.74% | 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 | BKH | QQQ |
|---|---|---|
| 2022 | +3.1% | -32.6% |
| 2023 | -19.9% | +54.9% |
| 2024 | +13.6% | +25.6% |
| 2025 | +23.9% | +20.8% |
| 2026 | +8.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BKH and QQQ good diversifiers for each other?
Yes. With a correlation of 0.07, BKH and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BKH and QQQ?
The BKH/QQQ correlation stands at 0.07 on a 3-year window (1 year: 0.08, 5 years: 0.22), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for BKH?
Yes. With a correlation of 0.07, BKH and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.07 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: BKH correlations · QQQ correlations
