BTZ vs QQQ: Correlation
Measured on weekly returns over the past three years, BlackRock Credit Allocation Income Trust (BTZ) 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 BTZ and QQQ?
On 3 years of weekly data the BTZ/QQQ correlation comes out at 0.45, moderate. Little has changed lately, as the 1-year reading of 0.54 lands near the 3-year figure. The 5-year figure is 0.51, and annualized covariance runs at 101.4 %².
QQQ is close to the least connected end of BTZ's tracked universe, ranking #22 of 25. Correlation aside, the last 12 months split them widely, with QQQ ahead by 24.7 points (+1.6% versus +26.3%). Risk is not evenly split, since QQQ carries 1.7 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.
BTZ vs QQQ: side by side
| BTZ (BlackRock Credit Allocation Income Trust) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +1.6% | +26.3% |
| 5-year return | +5.4% | +95.4% |
| Volatility (ann.) | 11.5% | 19.6% |
| Beta vs S&P 500 | 0.44 | 1.28 |
| Max drawdown (3Y) | -9.3% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 9.2 | – |
| 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 | BTZ | QQQ |
|---|---|---|
| 2022 | -27.1% | -32.6% |
| 2023 | +12.8% | +54.9% |
| 2024 | +11.3% | +25.6% |
| 2025 | +13.7% | +20.8% |
| 2026 | +0.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTZ and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BTZ and QQQ?
As of 2026-08-27, the correlation of weekly returns between BTZ and QQQ is 0.45 over 3 years, 0.54 over 1 year and 0.51 over 5 years.
Is QQQ a good diversifier for BTZ?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined 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.
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Related comparisons
Hubs: BTZ correlations · QQQ correlations
