DNLI vs HQL: Correlation
How closely do Denali Therapeutics Inc. (DNLI) and abrdn Life Sciences Investors Shares of Beneficial Interest (HQL) trade together? Their weekly returns over three years give a correlation of 0.64, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DNLI and HQL?
Over the past 3 years, DNLI and HQL moved with a correlation of 0.64, which is strong. Little has changed lately, as the 1-year reading of 0.64 lands near the 3-year figure. Over 5 years the correlation is 0.63, and the annualized covariance of weekly returns is 912.9 %².
HQL is one of the assets that tracks DNLI most closely: it ranks #3 out of the 25 assets we track against DNLI. The last year tells two different stories: HQL led by 17.8 percentage points, +58.1% for DNLI against +75.9% for HQL. One caveat on sizing: DNLI 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.
DNLI vs HQL: side by side
| DNLI (Denali Therapeutics Inc.) | HQL (abrdn Life Sciences Investors Shares of Beneficial Interest) | |
|---|---|---|
| 1-year return | +58.1% | +75.9% |
| 5-year return | -53.4% | +74.1% |
| Volatility (ann.) | 60.6% | 23.5% |
| Beta vs S&P 500 | 2.02 | 0.88 |
| Max drawdown (3Y) | -63.7% | -25.1% |
| Market cap | $3.9B | – |
| P/E (trailing) | – | 3.2 |
| Dividend yield | 0.00% | 8.87% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DNLI | HQL |
|---|---|---|
| 2022 | -37.6% | -19.2% |
| 2023 | -22.8% | +4.2% |
| 2024 | -5.0% | +11.0% |
| 2025 | -19.0% | +45.5% |
| 2026 | +49.4% | +40.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DNLI and HQL good diversifiers for each other?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DNLI and HQL?
As of 2026-08-27, the correlation of weekly returns between DNLI and HQL is 0.64 over 3 years, 0.64 over 1 year and 0.63 over 5 years.
Is HQL a good diversifier for DNLI?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.64 mean?
A reading of 0.64 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
$ curl https://www.pairbook.io/api/v1/pairs/dnli-vs-hql.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dnli-vs-hql/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DNLI correlations · HQL correlations
