CGEM vs HQL: Correlation
Cullinan Therapeutics, Inc. (CGEM) and abrdn Life Sciences Investors Shares of Beneficial Interest (HQL) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CGEM and HQL?
Across a 3-year window, the weekly returns of CGEM and HQL correlate at 0.44, moderate. The link has tightened recently: the 1-year correlation (0.58) runs above the 3-year figure (0.44). Stretching to 5 years gives 0.42, with an annualized covariance of 754.0 %².
In CGEM's tracked universe of 13 assets, HQL sits right near the top at #2. The last year tells two different stories: CGEM led by 109.1 percentage points, +185.0% for CGEM against +75.9% for HQL. One caveat on sizing: CGEM is 3.1 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 HQL: side by side
| CGEM (Cullinan Therapeutics, Inc.) | HQL (abrdn Life Sciences Investors Shares of Beneficial Interest) | |
|---|---|---|
| 1-year return | +185.0% | +75.9% |
| 5-year return | -23.5% | +74.1% |
| Volatility (ann.) | 72.4% | 23.5% |
| Beta vs S&P 500 | 1.20 | 0.88 |
| Max drawdown (3Y) | -80.4% | -25.1% |
| Market cap | $1.4B | – |
| P/E (trailing) | – | 3.2 |
| Dividend yield | 0.00% | 8.87% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CGEM | HQL |
|---|---|---|
| 2022 | -31.6% | -19.2% |
| 2023 | -3.4% | +4.2% |
| 2024 | +19.5% | +11.0% |
| 2025 | -15.0% | +45.5% |
| 2026 | +118.4% | +40.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CGEM and HQL good diversifiers for each other?
Reasonably. At 0.44, CGEM and HQL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CGEM and HQL?
As of 2026-08-27, the correlation of weekly returns between CGEM and HQL is 0.44 over 3 years, 0.58 over 1 year and 0.42 over 5 years.
Is HQL a good diversifier for CGEM?
Reasonably. At 0.44, CGEM and HQL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 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-hql.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cgem-vs-hql/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CGEM correlations · HQL correlations
