ALEC vs HQL: Correlation
Alector, Inc. (ALEC) and abrdn Life Sciences Investors Shares of Beneficial Interest (HQL) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALEC and HQL?
Over the past 3 years, ALEC and HQL moved with a correlation of 0.48, which is moderate. Recent behaviour matches the longer record: 0.40 over 1 year against 0.48 over 3. Over 5 years the correlation is 0.46, and the annualized covariance of weekly returns is 1017.7 %².
By 3-year correlation, HQL places #5 of the 11 assets tracked against ALEC. Their recent paths diverged sharply: over the last 12 months HQL outperformed by 76.3 percentage points (-0.4% for ALEC against +75.9% for HQL). One caveat on sizing: ALEC is 3.9 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.
ALEC vs HQL: side by side
| ALEC (Alector, Inc.) | HQL (abrdn Life Sciences Investors Shares of Beneficial Interest) | |
|---|---|---|
| 1-year return | -0.4% | +75.9% |
| 5-year return | -90.9% | +74.1% |
| Volatility (ann.) | 90.5% | 23.5% |
| Beta vs S&P 500 | 2.06 | 0.88 |
| Max drawdown (3Y) | -89.2% | -25.1% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | 3.2 |
| Dividend yield | 0.00% | 8.87% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALEC | HQL |
|---|---|---|
| 2022 | -55.3% | -19.2% |
| 2023 | -13.5% | +4.2% |
| 2024 | -76.3% | +11.0% |
| 2025 | -17.5% | +45.5% |
| 2026 | +53.2% | +40.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALEC and HQL good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ALEC and HQL?
The ALEC/HQL correlation stands at 0.48 on a 3-year window (1 year: 0.40, 5 years: 0.46), computed from weekly returns as of 2026-08-27.
Is HQL a good diversifier for ALEC?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 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/alec-vs-hql.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/alec-vs-hql/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALEC correlations · HQL correlations
