BME vs BMEZ: Correlation
How closely do Blackrock Health Sciences Trust (BME) and BlackRock Health Sciences Term Trust (BMEZ) trade together? Their weekly returns over three years give a correlation of 0.71, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BME and BMEZ?
Across a 3-year window, the weekly returns of BME and BMEZ correlate at 0.71, strong. Recent behaviour matches the longer record: 0.77 over 1 year against 0.71 over 3. Stretching to 5 years gives 0.66, with an annualized covariance of 168.1 %².
By 3-year correlation, BMEZ places #6 of the 34 assets tracked against BME. Neither side won the trailing year by much: +36.0% against +31.4%.
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.
BME vs BMEZ: side by side
| BME (Blackrock Health Sciences Trust) | BMEZ (BlackRock Health Sciences Term Trust) | |
|---|---|---|
| 1-year return | +36.0% | +31.4% |
| 5-year return | +33.5% | +0.9% |
| Volatility (ann.) | 14.4% | 16.5% |
| Beta vs S&P 500 | 0.45 | 0.63 |
| Max drawdown (3Y) | -14.4% | -18.3% |
| Market cap | – | $1.1B |
| P/E (trailing) | 7.8 | 6.7 |
| Dividend yield | 6.80% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BME | BMEZ |
|---|---|---|
| 2022 | -4.6% | -32.7% |
| 2023 | -1.1% | +5.1% |
| 2024 | -0.1% | +9.5% |
| 2025 | +17.9% | +18.7% |
| 2026 | +17.9% | +20.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BME and BMEZ good diversifiers for each other?
Only partially. A correlation of 0.71 means BME and BMEZ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between BME and BMEZ?
The BME/BMEZ correlation stands at 0.71 on a 3-year window (1 year: 0.77, 5 years: 0.66), computed from weekly returns as of 2026-08-27.
Is BMEZ a good diversifier for BME?
Only partially. A correlation of 0.71 means BME and BMEZ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.71 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.
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Related comparisons
Hubs: BME correlations · BMEZ correlations
