ARWR vs HQL: Correlation
How closely do Arrowhead Pharmaceuticals, Inc. (ARWR) and abrdn Life Sciences Investors Shares of Beneficial Interest (HQL) trade together? Their weekly returns over three years give a correlation of 0.51, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARWR and HQL?
Across a 3-year window, the weekly returns of ARWR and HQL correlate at 0.51, moderate. The past 12 months show a weaker link (0.30) than the 3-year average (0.51). Stretching to 5 years gives 0.53, with an annualized covariance of 794.6 %².
Within ARWR's tracked universe of 12 assets, HQL comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ARWR ahead by 230.7 points (+306.6% versus +75.9%). Note the risk asymmetry: ARWR runs 2.8 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.
ARWR vs HQL: side by side
| ARWR (Arrowhead Pharmaceuticals, Inc.) | HQL (abrdn Life Sciences Investors Shares of Beneficial Interest) | |
|---|---|---|
| 1-year return | +306.6% | +75.9% |
| 5-year return | +32.5% | +74.1% |
| Volatility (ann.) | 65.8% | 23.5% |
| Beta vs S&P 500 | 2.19 | 0.88 |
| Max drawdown (3Y) | -74.7% | -25.1% |
| Market cap | $12.5B | – |
| P/E (trailing) | – | 3.2 |
| Dividend yield | 0.00% | 8.87% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARWR | HQL |
|---|---|---|
| 2022 | -38.8% | -19.2% |
| 2023 | -24.6% | +4.2% |
| 2024 | -38.6% | +11.0% |
| 2025 | +253.1% | +45.5% |
| 2026 | +33.4% | +40.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARWR and HQL good diversifiers for each other?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ARWR and HQL?
As of 2026-08-27, the correlation of weekly returns between ARWR and HQL is 0.51 over 3 years, 0.30 over 1 year and 0.53 over 5 years.
Is HQL a good diversifier for ARWR?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.51 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/arwr-vs-hql.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/arwr-vs-hql/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ARWR correlations · HQL correlations
