BL vs QQQ: Correlation
Measured on weekly returns over the past three years, BlackLine, Inc. (BL) and Invesco QQQ Trust (QQQ) carry a correlation of 0.24, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BL and QQQ?
Over the past 3 years, BL and QQQ moved with a correlation of 0.24, which is weak. Lately the two have drifted apart, with the 1-year correlation at 0.01 versus 0.24 over 3 years. Over 5 years the correlation is 0.36, and the annualized covariance of weekly returns is 192.9 %².
Out of 15 assets tracked against BL, QQQ lands near the bottom at #12. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 64.6 percentage points (-38.3% for BL against +26.3% for QQQ). Risk is not evenly split, since BL carries 2.1 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.
BL vs QQQ: side by side
| BL (BlackLine, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -38.3% | +26.3% |
| 5-year return | -69.6% | +95.4% |
| Volatility (ann.) | 40.7% | 19.6% |
| Beta vs S&P 500 | 0.83 | 1.28 |
| Max drawdown (3Y) | -63.2% | -22.8% |
| Market cap | $2.0B | – |
| P/E (trailing) | 60.2 | – |
| 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 | BL | QQQ |
|---|---|---|
| 2022 | -35.0% | -32.6% |
| 2023 | -7.2% | +54.9% |
| 2024 | -2.7% | +25.6% |
| 2025 | -9.0% | +20.8% |
| 2026 | -39.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BL and QQQ good diversifiers for each other?
Reasonably. At 0.24, BL and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BL and QQQ?
Using weekly returns as of 2026-08-27: 0.24 over 3 years, with 0.01 over the last year and 0.36 over 5 years.
Is QQQ a good diversifier for BL?
Reasonably. At 0.24, BL and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.24 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/bl-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bl-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BL correlations · QQQ correlations
