BOOT vs QQQ: Correlation
Measured on weekly returns over the past three years, Boot Barn Holdings, Inc. (BOOT) and Invesco QQQ Trust (QQQ) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BOOT and QQQ?
Over the past 3 years, BOOT and QQQ moved with a correlation of 0.42, which is moderate. The past 12 months show a weaker link (0.31) than the 3-year average (0.42). Over 5 years the correlation is 0.51, and the annualized covariance of weekly returns is 395.6 %².
Out of 12 assets tracked against BOOT, QQQ lands near the bottom at #9. The last year tells two different stories: QQQ led by 38.4 percentage points, -12.1% for BOOT against +26.3% for QQQ. Note the risk asymmetry: BOOT runs 2.4 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.
BOOT vs QQQ: side by side
| BOOT (Boot Barn Holdings, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -12.1% | +26.3% |
| 5-year return | +77.0% | +95.4% |
| Volatility (ann.) | 47.6% | 19.6% |
| Beta vs S&P 500 | 1.52 | 1.28 |
| Max drawdown (3Y) | -48.9% | -22.8% |
| Market cap | $4.7B | – |
| P/E (trailing) | 20.2 | – |
| 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 | BOOT | QQQ |
|---|---|---|
| 2022 | -49.2% | -32.6% |
| 2023 | +22.8% | +54.9% |
| 2024 | +97.8% | +25.6% |
| 2025 | +16.2% | +20.8% |
| 2026 | -11.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BOOT and QQQ good diversifiers for each other?
Reasonably. At 0.42, BOOT and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BOOT and QQQ?
The BOOT/QQQ correlation stands at 0.42 on a 3-year window (1 year: 0.31, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for BOOT?
Reasonably. At 0.42, BOOT and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 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/boot-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/boot-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BOOT correlations · QQQ correlations
