BIIB vs THW: Correlation
Biogen (BIIB) and abrdn World Healthcare Fund Shares of Beneficial Interest (THW) show a moderate relationship: their 3-year correlation of weekly returns is 0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BIIB and THW?
Over the past 3 years, BIIB and THW moved with a correlation of 0.46, which is moderate. The past 12 months show a weaker link (0.27) than the 3-year average (0.46). Over 5 years the correlation is 0.40, and the annualized covariance of weekly returns is 295.0 %².
Among the 32 assets we track against BIIB, THW ranks #14 by 3-year correlation. The last year tells two different stories: BIIB led by 28.7 percentage points, +62.4% for BIIB against +33.7% for THW.
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.
BIIB vs THW: side by side
| BIIB (Biogen) | THW (abrdn World Healthcare Fund Shares of Beneficial Interest) | |
|---|---|---|
| 1-year return | +62.4% | +33.7% |
| 5-year return | -35.7% | +40.2% |
| Volatility (ann.) | 30.1% | 21.4% |
| Beta vs S&P 500 | 0.53 | 0.75 |
| Max drawdown (3Y) | -57.7% | -25.4% |
| Market cap | $32.7B | $0.6B |
| P/E (trailing) | 39.2 | 6.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | BIIB | THW |
|---|---|---|
| 2022 | +15.4% | -1.2% |
| 2023 | -6.6% | -11.5% |
| 2024 | -40.9% | +5.4% |
| 2025 | +15.1% | +31.1% |
| 2026 | +25.9% | +18.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BIIB and THW good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BIIB and THW?
As of 2026-08-27, the correlation of weekly returns between BIIB and THW is 0.46 over 3 years, 0.27 over 1 year and 0.40 over 5 years.
Is THW a good diversifier for BIIB?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 mean?
A reading of 0.46 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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Related comparisons
Hubs: BIIB correlations · THW correlations
