BWMN vs QQQ: Correlation
How closely do Bowman Consulting Group Ltd. (BWMN) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.25, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BWMN and QQQ?
Over the past 3 years, BWMN and QQQ moved with a correlation of 0.25, which is weak. Little has changed lately, as the 1-year reading of 0.22 lands near the 3-year figure. Over 5 years the correlation is 0.27, and the annualized covariance of weekly returns is 276.7 %².
QQQ is close to the least connected end of BWMN's tracked universe, ranking #14 of 17. Correlation aside, the last 12 months split them widely, with QQQ ahead by 24.8 points (+1.5% versus +26.3%). Note the risk asymmetry: BWMN runs 2.9 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.
BWMN vs QQQ: side by side
| BWMN (Bowman Consulting Group Ltd.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +1.5% | +26.3% |
| 5-year return | +220.2% | +95.4% |
| Volatility (ann.) | 56.7% | 19.6% |
| Beta vs S&P 500 | 1.08 | 1.28 |
| Max drawdown (3Y) | -56.2% | -22.8% |
| Market cap | $0.7B | – |
| P/E (trailing) | 101.2 | – |
| 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 | BWMN | QQQ |
|---|---|---|
| 2022 | +2.8% | -32.6% |
| 2023 | +62.6% | +54.9% |
| 2024 | -29.8% | +25.6% |
| 2025 | +32.3% | +20.8% |
| 2026 | +28.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BWMN and QQQ good diversifiers for each other?
Reasonably. At 0.25, BWMN and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BWMN and QQQ?
The BWMN/QQQ correlation stands at 0.25 on a 3-year window (1 year: 0.22, 5 years: 0.27), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for BWMN?
Reasonably. At 0.25, BWMN and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.25 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
$ curl https://www.pairbook.io/api/v1/pairs/bwmn-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bwmn-vs-qqq/)
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Related comparisons
Hubs: BWMN correlations · QQQ correlations
