DMAC vs HQL: Correlation
Measured on weekly returns over the past three years, DiaMedica Therapeutics Inc. (DMAC) and abrdn Life Sciences Investors Shares of Beneficial Interest (HQL) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DMAC and HQL?
On 3 years of weekly data the DMAC/HQL correlation comes out at 0.45, moderate. The relationship has been stable: the 1-year correlation (0.51) sits close to the 3-year figure. The 5-year figure is 0.27, and annualized covariance runs at 726.0 %².
Few assets follow DMAC as closely as HQL, which ranks #1 of 10 tracked partners. The last year tells two different stories: HQL led by 63.0 percentage points, +12.9% for DMAC against +75.9% for HQL. One caveat on sizing: DMAC is 2.9 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.
DMAC vs HQL: side by side
| DMAC (DiaMedica Therapeutics Inc.) | HQL (abrdn Life Sciences Investors Shares of Beneficial Interest) | |
|---|---|---|
| 1-year return | +12.9% | +75.9% |
| 5-year return | +67.5% | +74.1% |
| Volatility (ann.) | 68.6% | 23.5% |
| Beta vs S&P 500 | 1.46 | 0.88 |
| Max drawdown (3Y) | -49.2% | -25.1% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | 3.2 |
| Dividend yield | 0.00% | 8.87% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DMAC | HQL |
|---|---|---|
| 2022 | -57.6% | -19.2% |
| 2023 | +79.7% | +4.2% |
| 2024 | +91.2% | +11.0% |
| 2025 | +46.6% | +45.5% |
| 2026 | -15.2% | +40.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DMAC and HQL good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DMAC and HQL?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.51 over the last year and 0.27 over 5 years.
Is HQL a good diversifier for DMAC?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 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/dmac-vs-hql.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dmac-vs-hql/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DMAC correlations · HQL correlations
