ASND vs HQL: Correlation
Measured on weekly returns over the past three years, Ascendis Pharma A/S (ASND) and abrdn Life Sciences Investors Shares of Beneficial Interest (HQL) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASND and HQL?
Across a 3-year window, the weekly returns of ASND and HQL correlate at 0.40, moderate. The relationship has been stable: the 1-year correlation (0.45) sits close to the 3-year figure. Stretching to 5 years gives 0.38, with an annualized covariance of 376.3 %².
In ASND's tracked universe of 11 assets, HQL sits right near the top at #2. Correlation aside, the last 12 months split them widely, with HQL ahead by 46.7 points (+29.2% versus +75.9%). One caveat on sizing: ASND is 1.7 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.
ASND vs HQL: side by side
| ASND (Ascendis Pharma A/S) | HQL (abrdn Life Sciences Investors Shares of Beneficial Interest) | |
|---|---|---|
| 1-year return | +29.2% | +75.9% |
| 5-year return | +61.6% | +74.1% |
| Volatility (ann.) | 40.2% | 23.5% |
| Beta vs S&P 500 | 0.69 | 0.88 |
| Max drawdown (3Y) | -29.2% | -25.1% |
| Market cap | $16.4B | – |
| P/E (trailing) | 19.1 | 3.2 |
| Dividend yield | 0.00% | 8.87% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASND | HQL |
|---|---|---|
| 2022 | -9.2% | -19.2% |
| 2023 | +3.1% | +4.2% |
| 2024 | +9.3% | +11.0% |
| 2025 | +54.9% | +45.5% |
| 2026 | +16.9% | +40.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASND and HQL good diversifiers for each other?
Reasonably. At 0.40, ASND and HQL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ASND and HQL?
The ASND/HQL correlation stands at 0.40 on a 3-year window (1 year: 0.45, 5 years: 0.38), computed from weekly returns as of 2026-08-27.
Is HQL a good diversifier for ASND?
Reasonably. At 0.40, ASND and HQL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 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/asnd-vs-hql.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/asnd-vs-hql/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ASND correlations · HQL correlations
