DNLI vs HQH: Correlation
Denali Therapeutics Inc. (DNLI) and abrdn Healthcare Investors Shares of Beneficial Interest (HQH) show a strong relationship: their 3-year correlation of weekly returns is 0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DNLI and HQH?
Across a 3-year window, the weekly returns of DNLI and HQH correlate at 0.60, strong. The relationship has been stable: the 1-year correlation (0.55) sits close to the 3-year figure. Stretching to 5 years gives 0.58, with an annualized covariance of 797.1 %².
Within DNLI's tracked universe of 25 assets, HQH comes in at #4 by 3-year correlation. Neither side won the trailing year by much: +58.1% against +59.8%. Risk is not evenly split, since DNLI carries 2.8 times the volatility of the other side.
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.
DNLI vs HQH: side by side
| DNLI (Denali Therapeutics Inc.) | HQH (abrdn Healthcare Investors Shares of Beneficial Interest) | |
|---|---|---|
| 1-year return | +58.1% | +59.8% |
| 5-year return | -53.4% | +51.1% |
| Volatility (ann.) | 60.6% | 21.8% |
| Beta vs S&P 500 | 2.02 | 0.83 |
| Max drawdown (3Y) | -63.7% | -21.1% |
| Market cap | $3.9B | – |
| P/E (trailing) | – | 5.2 |
| Dividend yield | 0.00% | 9.62% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DNLI | HQH |
|---|---|---|
| 2022 | -37.6% | -17.3% |
| 2023 | -22.8% | +1.2% |
| 2024 | -5.0% | +10.2% |
| 2025 | -19.0% | +34.1% |
| 2026 | +49.4% | +33.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DNLI and HQH good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DNLI and HQH?
The DNLI/HQH correlation stands at 0.60 on a 3-year window (1 year: 0.55, 5 years: 0.58), computed from weekly returns as of 2026-08-27.
Is HQH a good diversifier for DNLI?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 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/dnli-vs-hqh.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dnli-vs-hqh/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DNLI correlations · HQH correlations
