BMEZ vs MRNA: Correlation
BlackRock Health Sciences Term Trust (BMEZ) and Moderna (MRNA) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BMEZ and MRNA?
On 3 years of weekly data the BMEZ/MRNA correlation comes out at 0.40, moderate. Recent behaviour matches the longer record: 0.49 over 1 year against 0.40 over 3. The 5-year figure is 0.35, and annualized covariance runs at 668.4 %².
Within BMEZ's tracked universe of 23 assets, MRNA comes in at #15 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MRNA ahead by 437.4 points (+31.4% versus +468.8%). Note the risk asymmetry: MRNA runs 6.1 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.
BMEZ vs MRNA: side by side
| BMEZ (BlackRock Health Sciences Term Trust) | MRNA (Moderna) | |
|---|---|---|
| 1-year return | +31.4% | +468.8% |
| 5-year return | +0.9% | -61.5% |
| Volatility (ann.) | 16.5% | 100.7% |
| Beta vs S&P 500 | 0.63 | 0.98 |
| Max drawdown (3Y) | -18.3% | -86.6% |
| Market cap | $1.1B | $57.0B |
| P/E (trailing) | 6.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | BMEZ | MRNA |
|---|---|---|
| 2022 | -32.7% | -29.3% |
| 2023 | +5.1% | -44.6% |
| 2024 | +9.5% | -58.2% |
| 2025 | +18.7% | -29.1% |
| 2026 | +20.6% | +384.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BMEZ and MRNA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BMEZ and MRNA?
As of 2026-08-27, the correlation of weekly returns between BMEZ and MRNA is 0.40 over 3 years, 0.49 over 1 year and 0.35 over 5 years.
Is MRNA a good diversifier for BMEZ?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bmez-vs-mrna.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bmez-vs-mrna/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BMEZ correlations · MRNA correlations
