BWEN vs QQQ: Correlation
How closely do Broadwind, Inc. (BWEN) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.18, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BWEN and QQQ?
On 3 years of weekly data the BWEN/QQQ correlation comes out at 0.18, weak. Little has changed lately, as the 1-year reading of 0.15 lands near the 3-year figure. The 5-year figure is 0.20, and annualized covariance runs at 344.3 %².
Among the 17 assets we track against BWEN, QQQ sits near the bottom by co-movement, at rank #13. Their recent paths diverged sharply: over the last 12 months BWEN outperformed by 86.2 percentage points (+112.5% for BWEN against +26.3% for QQQ). Risk is not evenly split, since BWEN carries 5.1 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.
BWEN vs QQQ: side by side
| BWEN (Broadwind, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +112.5% | +26.3% |
| 5-year return | +46.2% | +95.4% |
| Volatility (ann.) | 99.9% | 19.6% |
| Beta vs S&P 500 | 1.25 | 1.28 |
| Max drawdown (3Y) | -69.3% | -22.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | 12.1 | – |
| 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 | BWEN | QQQ |
|---|---|---|
| 2022 | -4.8% | -32.6% |
| 2023 | +54.7% | +54.9% |
| 2024 | -32.1% | +25.6% |
| 2025 | +50.5% | +20.8% |
| 2026 | +62.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BWEN and QQQ good diversifiers for each other?
Yes. With a correlation of 0.18, BWEN and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BWEN and QQQ?
As of 2026-08-27, the correlation of weekly returns between BWEN and QQQ is 0.18 over 3 years, 0.15 over 1 year and 0.20 over 5 years.
Is QQQ a good diversifier for BWEN?
Yes. With a correlation of 0.18, BWEN and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.18 mean?
A reading of 0.18 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/bwen-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bwen-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BWEN correlations · QQQ correlations
