BMI vs QQQ: Correlation
How closely do Badger Meter, Inc. (BMI) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.21, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BMI and QQQ?
On 3 years of weekly data the BMI/QQQ correlation comes out at 0.21, weak. The past 12 months show a weaker link (-0.12) than the 3-year average (0.21). The 5-year figure is 0.35, and annualized covariance runs at 147.3 %².
Among the 15 assets we track against BMI, QQQ ranks #8 by 3-year correlation. The last year tells two different stories: QQQ led by 52.4 percentage points, -26.1% for BMI against +26.3% for QQQ. Risk is not evenly split, since BMI carries 1.8 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.
BMI vs QQQ: side by side
| BMI (Badger Meter, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -26.1% | +26.3% |
| 5-year return | +33.9% | +95.4% |
| Volatility (ann.) | 35.9% | 19.6% |
| Beta vs S&P 500 | 0.62 | 1.28 |
| Max drawdown (3Y) | -55.1% | -22.8% |
| Market cap | $4.0B | – |
| P/E (trailing) | 32.1 | – |
| Dividend yield | 1.17% | 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 | BMI | QQQ |
|---|---|---|
| 2022 | +3.2% | -32.6% |
| 2023 | +42.6% | +54.9% |
| 2024 | +38.3% | +25.6% |
| 2025 | -17.2% | +20.8% |
| 2026 | -20.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BMI and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.21 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BMI and QQQ?
The BMI/QQQ correlation stands at 0.21 on a 3-year window (1 year: -0.12, 5 years: 0.35), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for BMI?
Yes, to a useful degree: a correlation of 0.21 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.21 mean?
On the −1 to +1 scale, 0.21 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/bmi-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bmi-vs-qqq/)
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Related comparisons
Hubs: BMI correlations · QQQ correlations
