BMO vs QQQ: Correlation
Measured on weekly returns over the past three years, Bank Of Montreal (BMO) and Invesco QQQ Trust (QQQ) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BMO and QQQ?
On 3 years of weekly data the BMO/QQQ correlation comes out at 0.45, moderate. Little has changed lately, as the 1-year reading of 0.41 lands near the 3-year figure. The 5-year figure is 0.51, and annualized covariance runs at 176.6 %².
Among the 11 assets we track against BMO, QQQ sits near the bottom by co-movement, at rank #8. The last year tells two different stories: BMO led by 20.4 percentage points, +46.7% for BMO against +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.
BMO vs QQQ: side by side
| BMO (Bank Of Montreal) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +46.7% | +26.3% |
| 5-year return | +109.4% | +95.4% |
| Volatility (ann.) | 20.3% | 19.6% |
| Beta vs S&P 500 | 0.75 | 1.28 |
| Max drawdown (3Y) | -17.6% | -22.8% |
| Market cap | $120.0B | – |
| P/E (trailing) | 19.4 | – |
| Dividend yield | 3.86% | 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 | BMO | QQQ |
|---|---|---|
| 2022 | -12.4% | -32.6% |
| 2023 | +14.6% | +54.9% |
| 2024 | +3.0% | +25.6% |
| 2025 | +38.3% | +20.8% |
| 2026 | +34.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BMO and QQQ good diversifiers for each other?
Reasonably. At 0.45, BMO and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BMO and QQQ?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.41 over the last year and 0.51 over 5 years.
Is QQQ a good diversifier for BMO?
Reasonably. At 0.45, BMO and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 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
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Related comparisons
Hubs: BMO correlations · QQQ correlations
