BKKT vs BQ: Correlation
Measured on weekly returns over the past three years, Bakkt, Inc. (BKKT) and Boqii Holding Limited Class A (BQ) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BKKT and BQ?
On 3 years of weekly data the BKKT/BQ correlation comes out at 0.41, moderate. The link has tightened recently: the 1-year correlation (0.71) runs above the 3-year figure (0.41). The 5-year figure is 0.26, and annualized covariance runs at 19387.0 %².
Among the 11 assets we track against BKKT, BQ ranks #6 by 3-year correlation. The last year tells two different stories: BKKT led by 64.7 percentage points, -2.2% for BKKT against -66.9% for BQ. Note the risk asymmetry: BQ runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
BKKT vs BQ: side by side
| BKKT (Bakkt, Inc.) | BQ (Boqii Holding Limited Class A) | |
|---|---|---|
| 1-year return | -2.2% | -66.9% |
| 5-year return | -96.6% | -99.8% |
| Volatility (ann.) | 172.9% | 275.5% |
| Beta vs S&P 500 | 3.19 | 1.87 |
| Max drawdown (3Y) | -89.4% | -98.2% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BKKT | BQ |
|---|---|---|
| 2022 | -86.0% | -77.1% |
| 2023 | +87.4% | -88.5% |
| 2024 | -55.6% | -22.1% |
| 2025 | -59.5% | -43.6% |
| 2026 | -16.1% | -54.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BKKT and BQ good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BKKT and BQ?
As of 2026-08-27, the correlation of weekly returns between BKKT and BQ is 0.41 over 3 years, 0.71 over 1 year and 0.26 over 5 years.
Is BQ a good diversifier for BKKT?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 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.
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Related comparisons
Hubs: BKKT correlations · BQ correlations
