BMEZ vs HQH: Correlation
How closely do BlackRock Health Sciences Term Trust (BMEZ) and abrdn Healthcare Investors Shares of Beneficial Interest (HQH) trade together? Their weekly returns over three years give a correlation of 0.72, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BMEZ and HQH?
On 3 years of weekly data the BMEZ/HQH correlation comes out at 0.72, strong. Little has changed lately, as the 1-year reading of 0.70 lands near the 3-year figure. The 5-year figure is 0.72, and annualized covariance runs at 259.2 %².
HQH is one of the assets that tracks BMEZ most closely: it ranks #3 out of the 23 assets we track against BMEZ. The last year tells two different stories: HQH led by 28.4 percentage points, +31.4% for BMEZ against +59.8% for HQH.
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 HQH: side by side
| BMEZ (BlackRock Health Sciences Term Trust) | HQH (abrdn Healthcare Investors Shares of Beneficial Interest) | |
|---|---|---|
| 1-year return | +31.4% | +59.8% |
| 5-year return | +0.9% | +51.1% |
| Volatility (ann.) | 16.5% | 21.8% |
| Beta vs S&P 500 | 0.63 | 0.83 |
| Max drawdown (3Y) | -18.3% | -21.1% |
| Market cap | $1.1B | – |
| P/E (trailing) | 6.7 | 5.2 |
| Dividend yield | 0.00% | 9.62% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BMEZ | HQH |
|---|---|---|
| 2022 | -32.7% | -17.3% |
| 2023 | +5.1% | +1.2% |
| 2024 | +9.5% | +10.2% |
| 2025 | +18.7% | +34.1% |
| 2026 | +20.6% | +33.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BMEZ and HQH good diversifiers for each other?
Only partially. A correlation of 0.72 means BMEZ and HQH 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 HQH?
As of 2026-08-27, the correlation of weekly returns between BMEZ and HQH is 0.72 over 3 years, 0.70 over 1 year and 0.72 over 5 years.
Is HQH a good diversifier for BMEZ?
Only partially. A correlation of 0.72 means BMEZ and HQH share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.72 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-hqh.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bmez-vs-hqh/)
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Related comparisons
Hubs: BMEZ correlations · HQH correlations
