CGEM vs HQH: Correlation
Measured on weekly returns over the past three years, Cullinan Therapeutics, Inc. (CGEM) and abrdn Healthcare Investors Shares of Beneficial Interest (HQH) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CGEM and HQH?
On 3 years of weekly data the CGEM/HQH correlation comes out at 0.41, moderate. The relationship has been stable: the 1-year correlation (0.50) sits close to the 3-year figure. The 5-year figure is 0.37, and annualized covariance runs at 649.1 %².
By 3-year correlation, HQH places #6 of the 13 assets tracked against CGEM. Their recent paths diverged sharply: over the last 12 months CGEM outperformed by 125.2 percentage points (+185.0% for CGEM against +59.8% for HQH). One caveat on sizing: CGEM is 3.3 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CGEM vs HQH: side by side
| CGEM (Cullinan Therapeutics, Inc.) | HQH (abrdn Healthcare Investors Shares of Beneficial Interest) | |
|---|---|---|
| 1-year return | +185.0% | +59.8% |
| 5-year return | -23.5% | +51.1% |
| Volatility (ann.) | 72.4% | 21.8% |
| Beta vs S&P 500 | 1.20 | 0.83 |
| Max drawdown (3Y) | -80.4% | -21.1% |
| Market cap | $1.4B | – |
| P/E (trailing) | – | 5.2 |
| Dividend yield | 0.00% | 9.62% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CGEM | HQH |
|---|---|---|
| 2022 | -31.6% | -17.3% |
| 2023 | -3.4% | +1.2% |
| 2024 | +19.5% | +10.2% |
| 2025 | -15.0% | +34.1% |
| 2026 | +118.4% | +33.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CGEM and HQH good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CGEM and HQH?
Using weekly returns as of 2026-08-27: 0.41 over 3 years, with 0.50 over the last year and 0.37 over 5 years.
Is HQH a good diversifier for CGEM?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 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/cgem-vs-hqh.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cgem-vs-hqh/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CGEM correlations · HQH correlations
