BWB vs QQQ: Correlation
Bridgewater Bancshares, Inc. (BWB) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BWB and QQQ?
Over the past 3 years, BWB and QQQ moved with a correlation of 0.35, which is moderate. The link has loosened recently: the 1-year correlation (0.15) runs below the 3-year figure (0.35). Over 5 years the correlation is 0.28, and the annualized covariance of weekly returns is 209.4 %².
Among the 13 assets we track against BWB, QQQ sits near the bottom by co-movement, at rank #10. Neither side won the trailing year by much: +29.6% against +26.3%. One caveat on sizing: BWB is 1.6 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.
BWB vs QQQ: side by side
| BWB (Bridgewater Bancshares, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +29.6% | +26.3% |
| 5-year return | +31.0% | +95.4% |
| Volatility (ann.) | 30.6% | 19.6% |
| Beta vs S&P 500 | 1.00 | 1.28 |
| Max drawdown (3Y) | -22.2% | -22.8% |
| Market cap | $0.6B | – |
| P/E (trailing) | 11.5 | – |
| 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 | BWB | QQQ |
|---|---|---|
| 2022 | +0.3% | -32.6% |
| 2023 | -23.8% | +54.9% |
| 2024 | -0.1% | +25.6% |
| 2025 | +29.8% | +20.8% |
| 2026 | +21.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BWB and QQQ good diversifiers for each other?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BWB and QQQ?
The BWB/QQQ correlation stands at 0.35 on a 3-year window (1 year: 0.15, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for BWB?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.35 mean?
On the −1 to +1 scale, 0.35 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/bwb-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bwb-vs-qqq/)
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Related comparisons
Hubs: BWB correlations · QQQ correlations
