BLX vs QQQ: Correlation
Measured on weekly returns over the past three years, Bladex, Inc. (BLX) and Invesco QQQ Trust (QQQ) carry a correlation of 0.23, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BLX and QQQ?
Over the past 3 years, BLX and QQQ moved with a correlation of 0.23, which is weak. The link has loosened recently: the 1-year correlation (0.05) runs below the 3-year figure (0.23). Over 5 years the correlation is 0.28, and the annualized covariance of weekly returns is 116.1 %².
Among the 10 assets we track against BLX, QQQ sits near the bottom by co-movement, at rank #7. Twelve-month performance is nearly a tie, at +24.5% for BLX and +26.3% for QQQ.
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.
BLX vs QQQ: side by side
| BLX (Bladex, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +24.5% | +26.3% |
| 5-year return | +326.0% | +95.4% |
| Volatility (ann.) | 25.5% | 19.6% |
| Beta vs S&P 500 | 0.59 | 1.28 |
| Max drawdown (3Y) | -21.0% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 9.0 | – |
| Dividend yield | 4.93% | 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 | BLX | QQQ |
|---|---|---|
| 2022 | +4.3% | -32.6% |
| 2023 | +60.6% | +54.9% |
| 2024 | +53.7% | +25.6% |
| 2025 | +29.4% | +20.8% |
| 2026 | +27.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BLX and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.23 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BLX and QQQ?
Using weekly returns as of 2026-08-27: 0.23 over 3 years, with 0.05 over the last year and 0.28 over 5 years.
Is QQQ a good diversifier for BLX?
Yes, to a useful degree: a correlation of 0.23 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.23 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: BLX correlations · QQQ correlations
