BWLP vs QQQ: Correlation
BW LPG Limited (BWLP) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.12.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BWLP and QQQ?
Over the past 3 years, BWLP and QQQ moved with a correlation of 0.12, which is weak. The past 12 months show a weaker link (-0.04) than the 3-year average (0.12). Over 5 years the correlation is 0.17, and the annualized covariance of weekly returns is 117.0 %².
Among the 12 assets we track against BWLP, QQQ sits near the bottom by co-movement, at rank #8. The last year tells two different stories: BWLP led by 46.1 percentage points, +72.4% for BWLP against +26.3% for QQQ. Note the risk asymmetry: BWLP runs 2.5 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.
BWLP vs QQQ: side by side
| BWLP (BW LPG Limited) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +72.4% | +26.3% |
| 5-year return | +841.4% | +95.4% |
| Volatility (ann.) | 48.8% | 19.6% |
| Beta vs S&P 500 | 0.74 | 1.28 |
| Max drawdown (3Y) | -54.3% | -22.8% |
| Market cap | $3.7B | – |
| P/E (trailing) | 9.9 | – |
| Dividend yield | 7.90% | 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 | BWLP | QQQ |
|---|---|---|
| 2022 | +60.4% | -32.6% |
| 2023 | +157.7% | +54.9% |
| 2024 | -7.2% | +25.6% |
| 2025 | +22.9% | +20.8% |
| 2026 | +99.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BWLP and QQQ good diversifiers for each other?
Yes: at 0.12, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BWLP and QQQ?
The BWLP/QQQ correlation stands at 0.12 on a 3-year window (1 year: -0.04, 5 years: 0.17), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for BWLP?
Yes: at 0.12, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.12 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: BWLP correlations · QQQ correlations
