BDTX vs HQL: Correlation
Black Diamond Therapeutics, Inc. (BDTX) and abrdn Life Sciences Investors Shares of Beneficial Interest (HQL) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BDTX and HQL?
Across a 3-year window, the weekly returns of BDTX and HQL correlate at 0.47, moderate. Little has changed lately, as the 1-year reading of 0.52 lands near the 3-year figure. Stretching to 5 years gives 0.31, with an annualized covariance of 914.3 %².
Among the 11 assets we track against BDTX, HQL ranks #4 by 3-year correlation. The last year tells two different stories: HQL led by 96.8 percentage points, -20.9% for BDTX against +75.9% for HQL. One caveat on sizing: BDTX is 3.5 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.
BDTX vs HQL: side by side
| BDTX (Black Diamond Therapeutics, Inc.) | HQL (abrdn Life Sciences Investors Shares of Beneficial Interest) | |
|---|---|---|
| 1-year return | -20.9% | +75.9% |
| 5-year return | -77.0% | +74.1% |
| Volatility (ann.) | 83.4% | 23.5% |
| Beta vs S&P 500 | 2.26 | 0.88 |
| Max drawdown (3Y) | -83.1% | -25.1% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | 3.2 |
| Dividend yield | 0.00% | 8.87% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BDTX | HQL |
|---|---|---|
| 2022 | -66.2% | -19.2% |
| 2023 | +56.1% | +4.2% |
| 2024 | -23.8% | +11.0% |
| 2025 | +13.6% | +45.5% |
| 2026 | -6.6% | +40.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BDTX and HQL good diversifiers for each other?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BDTX and HQL?
The BDTX/HQL correlation stands at 0.47 on a 3-year window (1 year: 0.52, 5 years: 0.31), computed from weekly returns as of 2026-08-27.
Is HQL a good diversifier for BDTX?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.47 mean?
On the −1 to +1 scale, 0.47 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/bdtx-vs-hql.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bdtx-vs-hql/)
The core API is free. Terms and every endpoint in the API documentation.
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Hubs: BDTX correlations · HQL correlations
