BP vs QQQ: Correlation
Measured on weekly returns over the past three years, BP p.l.c. (BP) and Invesco QQQ Trust (QQQ) carry a correlation of -0.03, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BP and QQQ?
Across a 3-year window, the weekly returns of BP and QQQ correlate at -0.03, near zero, meaning they move largely independently. The link has loosened recently: the 1-year correlation (-0.46) runs below the 3-year figure (-0.03). Stretching to 5 years gives 0.08, with an annualized covariance of -14.9 %².
Within BP's tracked universe of 26 assets, QQQ comes in at #10 by 3-year correlation. Neither side won the trailing year by much: +27.6% against +26.3%.
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.
BP vs QQQ: side by side
| BP (BP p.l.c.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +27.6% | +26.3% |
| 5-year return | +119.9% | +95.4% |
| Volatility (ann.) | 26.6% | 19.6% |
| Beta vs S&P 500 | 0.06 | 1.28 |
| Max drawdown (3Y) | -30.6% | -22.8% |
| Market cap | $109.0B | – |
| P/E (trailing) | 20.3 | – |
| Dividend yield | 0.79% | 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 | BP | QQQ |
|---|---|---|
| 2022 | +37.0% | -32.6% |
| 2023 | +6.0% | +54.9% |
| 2024 | -11.8% | +25.6% |
| 2025 | +24.5% | +20.8% |
| 2026 | +26.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BP and QQQ good diversifiers for each other?
Yes. With a correlation of -0.03, BP and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BP and QQQ?
As of 2026-08-27, the correlation of weekly returns between BP and QQQ is -0.03 over 3 years, -0.46 over 1 year and 0.08 over 5 years.
Is QQQ a good diversifier for BP?
Yes. With a correlation of -0.03, BP and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.03 mean?
A reading of -0.03 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
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Related comparisons
Hubs: BP correlations · QQQ correlations
