BTE vs QQQ: Correlation
How closely do Baytex Energy Corp (BTE) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.05, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTE and QQQ?
Over the past 3 years, BTE and QQQ moved with a correlation of 0.05, which is near zero, meaning they move largely independently. Lately the two have drifted apart, with the 1-year correlation at -0.23 versus 0.05 over 3 years. Over 5 years the correlation is 0.07, and the annualized covariance of weekly returns is 48.0 %².
QQQ is close to the least connected end of BTE's tracked universe, ranking #8 of 12. The last year tells two different stories: BTE led by 96.5 percentage points, +122.8% for BTE against +26.3% for QQQ. Risk is not evenly split, since BTE carries 2.3 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.
BTE vs QQQ: side by side
| BTE (Baytex Energy Corp) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +122.8% | +26.3% |
| 5-year return | +194.4% | +95.4% |
| Volatility (ann.) | 45.7% | 19.6% |
| Beta vs S&P 500 | 0.38 | 1.28 |
| Max drawdown (3Y) | -66.7% | -22.8% |
| Market cap | $3.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 1.92% | 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 | BTE | QQQ |
|---|---|---|
| 2022 | +46.0% | -32.6% |
| 2023 | -25.7% | +54.9% |
| 2024 | -20.6% | +25.6% |
| 2025 | +27.3% | +20.8% |
| 2026 | +50.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTE and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.05 means the two rarely move for the same reasons.
FAQ
What is the correlation between BTE and QQQ?
As of 2026-08-27, the correlation of weekly returns between BTE and QQQ is 0.05 over 3 years, -0.23 over 1 year and 0.07 over 5 years.
Is QQQ a good diversifier for BTE?
By historical standards, yes. A correlation of 0.05 means the two rarely move for the same reasons.
What does a correlation of 0.05 mean?
On the −1 to +1 scale, 0.05 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: BTE correlations · QQQ correlations
