BME vs THW: Correlation
Blackrock Health Sciences Trust (BME) and abrdn World Healthcare Fund Shares of Beneficial Interest (THW) show a strong relationship: their 3-year correlation of weekly returns is 0.74.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BME and THW?
Across a 3-year window, the weekly returns of BME and THW correlate at 0.74, strong. The past 12 months show a weaker link (0.61) than the 3-year average (0.74). Stretching to 5 years gives 0.69, with an annualized covariance of 228.5 %².
Among the 34 assets we track against BME, THW ranks #4 by 3-year correlation. Neither side won the trailing year by much: +36.0% against +33.7%.
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 THW: side by side
| BME (Blackrock Health Sciences Trust) | THW (abrdn World Healthcare Fund Shares of Beneficial Interest) | |
|---|---|---|
| 1-year return | +36.0% | +33.7% |
| 5-year return | +33.5% | +40.2% |
| Volatility (ann.) | 14.4% | 21.4% |
| Beta vs S&P 500 | 0.45 | 0.75 |
| Max drawdown (3Y) | -14.4% | -25.4% |
| Market cap | – | $0.6B |
| P/E (trailing) | 7.8 | 6.6 |
| Dividend yield | 6.80% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BME | THW |
|---|---|---|
| 2022 | -4.6% | -1.2% |
| 2023 | -1.1% | -11.5% |
| 2024 | -0.1% | +5.4% |
| 2025 | +17.9% | +31.1% |
| 2026 | +17.9% | +18.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BME and THW good diversifiers for each other?
Only partially. A correlation of 0.74 means BME and THW 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 THW?
As of 2026-08-27, the correlation of weekly returns between BME and THW is 0.74 over 3 years, 0.61 over 1 year and 0.69 over 5 years.
Is THW a good diversifier for BME?
Only partially. A correlation of 0.74 means BME and THW share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.74 mean?
On the −1 to +1 scale, 0.74 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.
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Related comparisons
Hubs: BME correlations · THW correlations
