BME vs HQH: Correlation
Measured on weekly returns over the past three years, Blackrock Health Sciences Trust (BME) and abrdn Healthcare Investors Shares of Beneficial Interest (HQH) carry a correlation of 0.72, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BME and HQH?
Across a 3-year window, the weekly returns of BME and HQH correlate at 0.72, strong. The past 12 months show a weaker link (0.56) than the 3-year average (0.72). Stretching to 5 years gives 0.73, with an annualized covariance of 226.6 %².
Within BME's tracked universe of 34 assets, HQH comes in at #5 by 3-year correlation. The last year tells two different stories: HQH led by 23.8 percentage points, +36.0% for BME against +59.8% for HQH. Note the risk asymmetry: HQH runs 1.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 HQH: side by side
| BME (Blackrock Health Sciences Trust) | HQH (abrdn Healthcare Investors Shares of Beneficial Interest) | |
|---|---|---|
| 1-year return | +36.0% | +59.8% |
| 5-year return | +33.5% | +51.1% |
| Volatility (ann.) | 14.4% | 21.8% |
| Beta vs S&P 500 | 0.45 | 0.83 |
| Max drawdown (3Y) | -14.4% | -21.1% |
| Market cap | – | – |
| P/E (trailing) | 7.8 | 5.2 |
| Dividend yield | 6.80% | 9.62% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BME | HQH |
|---|---|---|
| 2022 | -4.6% | -17.3% |
| 2023 | -1.1% | +1.2% |
| 2024 | -0.1% | +10.2% |
| 2025 | +17.9% | +34.1% |
| 2026 | +17.9% | +33.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BME and HQH good diversifiers for each other?
Somewhat, no more. With 0.72 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BME and HQH?
As of 2026-08-27, the correlation of weekly returns between BME and HQH is 0.72 over 3 years, 0.56 over 1 year and 0.73 over 5 years.
Is HQH a good diversifier for BME?
Somewhat, no more. With 0.72 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.72 mean?
A reading of 0.72 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-hqh.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bme-vs-hqh/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BME correlations · HQH correlations
