BLK vs NDAQ: Correlation
How closely do BlackRock (BLK) and Nasdaq, Inc. (NDAQ) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BLK and NDAQ?
On 3 years of weekly data the BLK/NDAQ correlation comes out at 0.54, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.42 versus 0.54 over 3 years. The 5-year figure is 0.59, and annualized covariance runs at 307.7 %².
Within BLK's tracked universe of 42 assets, NDAQ comes in at #26 by 3-year correlation. Neither side won the trailing year by much: +5.3% against +6.1%. The rolling one-year correlation moved between 0.37 and 0.68 over the past three years, a moderate range.
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.
BLK vs NDAQ: side by side
| BLK (BlackRock) | NDAQ (Nasdaq, Inc.) | |
|---|---|---|
| 1-year return | +5.3% | +6.1% |
| 5-year return | +38.9% | +64.4% |
| Volatility (ann.) | 24.7% | 23.2% |
| Beta vs S&P 500 | 1.19 | 0.80 |
| Max drawdown (3Y) | -23.7% | -23.4% |
| Market cap | $189.7B | $55.5B |
| P/E (trailing) | 28.1 | 29.0 |
| Dividend yield | 1.86% | 1.13% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | BLK | NDAQ |
|---|---|---|
| 2022 | -20.4% | -11.2% |
| 2023 | +17.9% | -3.7% |
| 2024 | +29.3% | +34.8% |
| 2025 | +6.6% | +27.2% |
| 2026 | +10.3% | +3.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BLK and NDAQ good diversifiers for each other?
Only partially. A correlation of 0.54 means BLK and NDAQ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between BLK and NDAQ?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.42 over the last year and 0.59 over 5 years.
Is NDAQ a good diversifier for BLK?
Only partially. A correlation of 0.54 means BLK and NDAQ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.54 mean?
A reading of 0.54 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/blk-vs-ndaq.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/blk-vs-ndaq/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BLK correlations · NDAQ correlations
