BME vs GRX: Correlation
Measured on weekly returns over the past three years, Blackrock Health Sciences Trust (BME) and The Gabelli Healthcare & Wellness Trust (GRX) carry a correlation of 0.79, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BME and GRX?
Over the past 3 years, BME and GRX moved with a correlation of 0.79, which is strong. Recent behaviour matches the longer record: 0.83 over 1 year against 0.79 over 3. Over 5 years the correlation is 0.74, and the annualized covariance of weekly returns is 170.9 %².
In BME's tracked universe of 34 assets, GRX sits right near the top at #2. Correlation aside, the last 12 months split them widely, with BME ahead by 21.7 points (+36.0% versus +14.3%).
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 GRX: side by side
| BME (Blackrock Health Sciences Trust) | GRX (The Gabelli Healthcare & Wellness Trust) | |
|---|---|---|
| 1-year return | +36.0% | +14.3% |
| 5-year return | +33.5% | +1.5% |
| Volatility (ann.) | 14.4% | 15.1% |
| Beta vs S&P 500 | 0.45 | 0.46 |
| Max drawdown (3Y) | -14.4% | -17.9% |
| Market cap | – | – |
| P/E (trailing) | 7.8 | 67.0 |
| Dividend yield | 6.80% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BME | GRX |
|---|---|---|
| 2022 | -4.6% | -20.0% |
| 2023 | -1.1% | -3.3% |
| 2024 | -0.1% | +9.6% |
| 2025 | +17.9% | +7.0% |
| 2026 | +17.9% | +8.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BME and GRX good diversifiers for each other?
Only partially. A correlation of 0.79 means BME and GRX 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 GRX?
Using weekly returns as of 2026-08-27: 0.79 over 3 years, with 0.83 over the last year and 0.74 over 5 years.
Is GRX a good diversifier for BME?
Only partially. A correlation of 0.79 means BME and GRX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.79 mean?
A reading of 0.79 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
$ curl https://www.pairbook.io/api/v1/pairs/bme-vs-grx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bme-vs-grx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BME correlations · GRX correlations
