BWA vs QQQ: Correlation
How closely do BorgWarner Inc. (BWA) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.22, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BWA and QQQ?
Over the past 3 years, BWA and QQQ moved with a correlation of 0.22, which is weak. Recent behaviour matches the longer record: 0.17 over 1 year against 0.22 over 3. Over 5 years the correlation is 0.40, and the annualized covariance of weekly returns is 125.0 %².
Within BWA's tracked universe of 16 assets, QQQ comes in at #9 by 3-year correlation. The last year tells two different stories: BWA led by 24.6 percentage points, +50.9% for BWA against +26.3% for QQQ. Note the risk asymmetry: BWA runs 1.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
BWA vs QQQ: side by side
| BWA (BorgWarner Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +50.9% | +26.3% |
| 5-year return | +84.0% | +95.4% |
| Volatility (ann.) | 29.6% | 19.6% |
| Beta vs S&P 500 | 0.54 | 1.28 |
| Max drawdown (3Y) | -38.7% | -22.8% |
| Market cap | $13.2B | – |
| P/E (trailing) | 31.9 | – |
| Dividend yield | 1.05% | 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 | BWA | QQQ |
|---|---|---|
| 2022 | -9.2% | -32.6% |
| 2023 | +2.5% | +54.9% |
| 2024 | -10.2% | +25.6% |
| 2025 | +43.9% | +20.8% |
| 2026 | +44.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BWA and QQQ good diversifiers for each other?
Reasonably. At 0.22, BWA and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BWA and QQQ?
The BWA/QQQ correlation stands at 0.22 on a 3-year window (1 year: 0.17, 5 years: 0.40), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for BWA?
Reasonably. At 0.22, BWA and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.22 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
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Related comparisons
Hubs: BWA correlations · QQQ correlations
