BWIN vs QQQ: Correlation
The Baldwin Insurance Group, Inc. (BWIN) and Invesco QQQ Trust (QQQ) show a near-zero relationship: their 3-year correlation of weekly returns is 0.08.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BWIN and QQQ?
Across a 3-year window, the weekly returns of BWIN and QQQ correlate at 0.08, near zero, meaning they move largely independently. The past 12 months show a weaker link (-0.09) than the 3-year average (0.08). Stretching to 5 years gives 0.27, with an annualized covariance of 81.4 %².
Among the 11 assets we track against BWIN, QQQ sits near the bottom by co-movement, at rank #8. Correlation aside, the last 12 months split them widely, with QQQ ahead by 32.3 points (-6.0% versus +26.3%). One caveat on sizing: BWIN is 2.8 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.
BWIN vs QQQ: side by side
| BWIN (The Baldwin Insurance Group, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -6.0% | +26.3% |
| 5-year return | -13.5% | +95.4% |
| Volatility (ann.) | 54.6% | 19.6% |
| Beta vs S&P 500 | 0.60 | 1.28 |
| Max drawdown (3Y) | -70.2% | -22.8% |
| Market cap | $2.9B | – |
| 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 | BWIN | QQQ |
|---|---|---|
| 2022 | -30.4% | -32.6% |
| 2023 | -4.5% | +54.9% |
| 2024 | +61.4% | +25.6% |
| 2025 | -38.0% | +20.8% |
| 2026 | +25.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BWIN and QQQ good diversifiers for each other?
Yes. With a correlation of 0.08, BWIN and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BWIN and QQQ?
As of 2026-08-27, the correlation of weekly returns between BWIN and QQQ is 0.08 over 3 years, -0.09 over 1 year and 0.27 over 5 years.
Is QQQ a good diversifier for BWIN?
Yes. With a correlation of 0.08, BWIN and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.08 mean?
A reading of 0.08 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: BWIN correlations · QQQ correlations
