BW vs QQQ: Correlation
Babcock & Wilcox Enterprises, Inc. (BW) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.32.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BW and QQQ?
On 3 years of weekly data the BW/QQQ correlation comes out at 0.32, moderate. The past 12 months show a weaker link (0.02) than the 3-year average (0.32). The 5-year figure is 0.32, and annualized covariance runs at 845.0 %².
Among the 10 assets we track against BW, QQQ sits near the bottom by co-movement, at rank #7. The last year tells two different stories: BW led by 291.1 percentage points, +317.4% for BW against +26.3% for QQQ. Risk is not evenly split, since BW carries 7.0 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.
BW vs QQQ: side by side
| BW (Babcock & Wilcox Enterprises, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +317.4% | +26.3% |
| 5-year return | +5.9% | +95.4% |
| Volatility (ann.) | 137.1% | 19.6% |
| Beta vs S&P 500 | 3.26 | 1.28 |
| Max drawdown (3Y) | -95.2% | -22.8% |
| Market cap | $1.1B | – |
| P/E (trailing) | – | – |
| 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 | BW | QQQ |
|---|---|---|
| 2022 | -36.0% | -32.6% |
| 2023 | -74.7% | +54.9% |
| 2024 | +12.3% | +25.6% |
| 2025 | +286.6% | +20.8% |
| 2026 | +21.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BW and QQQ good diversifiers for each other?
A fair diversifier. At 0.32, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BW and QQQ?
Using weekly returns as of 2026-08-27: 0.32 over 3 years, with 0.02 over the last year and 0.32 over 5 years.
Is QQQ a good diversifier for BW?
A fair diversifier. At 0.32, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.32 mean?
A reading of 0.32 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
$ curl https://www.pairbook.io/api/v1/pairs/bw-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bw-vs-qqq/)
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Related comparisons
Hubs: BW correlations · QQQ correlations
