CGON vs HQL: Correlation
CG Oncology, Inc. (CGON) and abrdn Life Sciences Investors Shares of Beneficial Interest (HQL) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CGON and HQL?
Across a 3-year window, the weekly returns of CGON and HQL correlate at 0.50, moderate. The relationship has been stable: the 1-year correlation (0.40) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of 721.4 %².
Among the 17 assets we track against CGON, HQL ranks #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CGON ahead by 122.5 points (+198.4% versus +75.9%). One caveat on sizing: CGON is 2.6 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.
CGON vs HQL: side by side
| CGON (CG Oncology, Inc.) | HQL (abrdn Life Sciences Investors Shares of Beneficial Interest) | |
|---|---|---|
| 1-year return | +198.4% | +75.9% |
| 5-year return | n/a | +74.1% |
| Volatility (ann.) | 61.8% | 23.5% |
| Beta vs S&P 500 | 1.57 | 0.88 |
| Max drawdown (3Y) | -67.5% | -25.1% |
| Market cap | $7.0B | – |
| P/E (trailing) | – | 3.2 |
| Dividend yield | 0.00% | 8.87% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CGON | HQL |
|---|---|---|
| 2022 | – | -19.2% |
| 2023 | – | +4.2% |
| 2024 | – | +11.0% |
| 2025 | +44.8% | +45.5% |
| 2026 | +90.3% | +40.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CGON and HQL good diversifiers for each other?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CGON and HQL?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.40 over the last year and n/a over 5 years.
Is HQL a good diversifier for CGON?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.50 mean?
A reading of 0.50 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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[](https://www.pairbook.io/pair/cgon-vs-hql/)
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Related comparisons
Hubs: CGON correlations · HQL correlations
