BTG vs QQQ: Correlation
Measured on weekly returns over the past three years, B2Gold Corp (BTG) and Invesco QQQ Trust (QQQ) carry a correlation of 0.29, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTG and QQQ?
Over the past 3 years, BTG and QQQ moved with a correlation of 0.29, which is weak. Lately the two have moved closer together, with the 1-year correlation at 0.48 versus 0.29 over 3 years. Over 5 years the correlation is 0.30, and the annualized covariance of weekly returns is 311.9 %².
Out of 16 assets tracked against BTG, QQQ lands near the bottom at #12. Correlation aside, the last 12 months split them widely, with BTG ahead by 18.6 points (+44.9% versus +26.3%). One caveat on sizing: BTG is 2.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
BTG vs QQQ: side by side
| BTG (B2Gold Corp) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +44.9% | +26.3% |
| 5-year return | +85.7% | +95.4% |
| Volatility (ann.) | 55.7% | 19.6% |
| Beta vs S&P 500 | 1.12 | 1.28 |
| Max drawdown (3Y) | -40.7% | -22.8% |
| Market cap | $7.7B | – |
| P/E (trailing) | 10.4 | – |
| Dividend yield | 1.39% | 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 | BTG | QQQ |
|---|---|---|
| 2022 | -5.1% | -32.6% |
| 2023 | -7.2% | +54.9% |
| 2024 | -18.1% | +25.6% |
| 2025 | +87.2% | +20.8% |
| 2026 | +30.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTG and QQQ good diversifiers for each other?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BTG and QQQ?
The BTG/QQQ correlation stands at 0.29 on a 3-year window (1 year: 0.48, 5 years: 0.30), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for BTG?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.29 mean?
On the −1 to +1 scale, 0.29 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/btg-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/btg-vs-qqq/)
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Related comparisons
Hubs: BTG correlations · QQQ correlations
