BBIO vs HQL: Correlation
Measured on weekly returns over the past three years, BridgeBio Pharma, Inc. (BBIO) and abrdn Life Sciences Investors Shares of Beneficial Interest (HQL) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BBIO and HQL?
Over the past 3 years, BBIO and HQL moved with a correlation of 0.45, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.34 versus 0.45 over 3 years. Over 5 years the correlation is 0.39, and the annualized covariance of weekly returns is 498.9 %².
HQL is one of the assets that tracks BBIO most closely: it ranks #3 out of the 10 assets we track against BBIO. Their recent paths diverged sharply: over the last 12 months HQL outperformed by 17.2 percentage points (+58.7% for BBIO against +75.9% for HQL). One caveat on sizing: BBIO is 2.0 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.
BBIO vs HQL: side by side
| BBIO (BridgeBio Pharma, Inc.) | HQL (abrdn Life Sciences Investors Shares of Beneficial Interest) | |
|---|---|---|
| 1-year return | +58.7% | +75.9% |
| 5-year return | +61.9% | +74.1% |
| Volatility (ann.) | 46.9% | 23.5% |
| Beta vs S&P 500 | 1.02 | 0.88 |
| Max drawdown (3Y) | -49.1% | -25.1% |
| Market cap | $15.4B | – |
| P/E (trailing) | – | 3.2 |
| Dividend yield | 0.00% | 8.87% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BBIO | HQL |
|---|---|---|
| 2022 | -54.3% | -19.2% |
| 2023 | +429.8% | +4.2% |
| 2024 | -32.0% | +11.0% |
| 2025 | +178.8% | +45.5% |
| 2026 | +2.9% | +40.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BBIO and HQL good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BBIO and HQL?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.34 over the last year and 0.39 over 5 years.
Is HQL a good diversifier for BBIO?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.45 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/bbio-vs-hql.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bbio-vs-hql/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BBIO correlations · HQL correlations
