BLDP vs QQQ: Correlation
Ballard Power Systems, Inc. (BLDP) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BLDP and QQQ?
On 3 years of weekly data the BLDP/QQQ correlation comes out at 0.39, moderate. Recent behaviour matches the longer record: 0.49 over 1 year against 0.39 over 3. The 5-year figure is 0.48, and annualized covariance runs at 501.7 %².
Within BLDP's tracked universe of 23 assets, QQQ comes in at #13 by 3-year correlation. The trailing year gives QQQ the advantage: +15.8% versus +26.3%, a 10.5-point spread. Note the risk asymmetry: BLDP runs 3.4 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.
BLDP vs QQQ: side by side
| BLDP (Ballard Power Systems, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +15.8% | +26.3% |
| 5-year return | -85.8% | +95.4% |
| Volatility (ann.) | 66.3% | 19.6% |
| Beta vs S&P 500 | 1.62 | 1.28 |
| Max drawdown (3Y) | -76.4% | -22.8% |
| Market cap | $0.7B | – |
| P/E (trailing) | – | – |
| 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 | BLDP | QQQ |
|---|---|---|
| 2022 | -61.9% | -32.6% |
| 2023 | -22.8% | +54.9% |
| 2024 | -55.1% | +25.6% |
| 2025 | +53.0% | +20.8% |
| 2026 | -7.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BLDP and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BLDP and QQQ?
Using weekly returns as of 2026-08-27: 0.39 over 3 years, with 0.49 over the last year and 0.48 over 5 years.
Is QQQ a good diversifier for BLDP?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.39 mean?
On the −1 to +1 scale, 0.39 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
$ curl https://www.pairbook.io/api/v1/pairs/bldp-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bldp-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BLDP correlations · QQQ correlations
