BMEZ vs CGON: Correlation
Measured on weekly returns over the past three years, BlackRock Health Sciences Term Trust (BMEZ) and CG Oncology, Inc. (CGON) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BMEZ and CGON?
Across a 3-year window, the weekly returns of BMEZ and CGON correlate at 0.50, moderate. Recent behaviour matches the longer record: 0.42 over 1 year against 0.50 over 3. Stretching to 5 years gives n/a, with an annualized covariance of 501.1 %².
By 3-year correlation, CGON places #8 of the 23 assets tracked against BMEZ. Correlation aside, the last 12 months split them widely, with CGON ahead by 167.0 points (+31.4% versus +198.4%). Risk is not evenly split, since CGON carries 3.7 times the volatility of the other side.
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.
BMEZ vs CGON: side by side
| BMEZ (BlackRock Health Sciences Term Trust) | CGON (CG Oncology, Inc.) | |
|---|---|---|
| 1-year return | +31.4% | +198.4% |
| 5-year return | +0.9% | n/a |
| Volatility (ann.) | 16.5% | 61.8% |
| Beta vs S&P 500 | 0.63 | 1.57 |
| Max drawdown (3Y) | -18.3% | -67.5% |
| Market cap | $1.1B | $7.0B |
| P/E (trailing) | 6.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BMEZ | CGON |
|---|---|---|
| 2022 | -32.7% | – |
| 2023 | +5.1% | – |
| 2024 | +9.5% | – |
| 2025 | +18.7% | +44.8% |
| 2026 | +20.6% | +90.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BMEZ and CGON good diversifiers for each other?
Only partially. A correlation of 0.50 means BMEZ and CGON 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 BMEZ and CGON?
The BMEZ/CGON correlation stands at 0.50 on a 3-year window (1 year: 0.42, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is CGON a good diversifier for BMEZ?
Only partially. A correlation of 0.50 means BMEZ and CGON share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.50 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bmez-vs-cgon.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bmez-vs-cgon/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BMEZ correlations · CGON correlations
