EWTX vs HQH: Correlation
How closely do Edgewise Therapeutics, Inc. (EWTX) and abrdn Healthcare Investors Shares of Beneficial Interest (HQH) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EWTX and HQH?
Across a 3-year window, the weekly returns of EWTX and HQH correlate at 0.46, moderate. Little has changed lately, as the 1-year reading of 0.51 lands near the 3-year figure. Stretching to 5 years gives 0.39, with an annualized covariance of 787.6 %².
Among the 10 assets we track against EWTX, HQH ranks #5 by 3-year correlation. The last year tells two different stories: EWTX led by 146.0 percentage points, +205.8% for EWTX against +59.8% for HQH. Risk is not evenly split, since EWTX carries 3.6 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.
EWTX vs HQH: side by side
| EWTX (Edgewise Therapeutics, Inc.) | HQH (abrdn Healthcare Investors Shares of Beneficial Interest) | |
|---|---|---|
| 1-year return | +205.8% | +59.8% |
| 5-year return | +194.6% | +51.1% |
| Volatility (ann.) | 77.7% | 21.8% |
| Beta vs S&P 500 | 2.04 | 0.83 |
| Max drawdown (3Y) | -68.8% | -21.1% |
| Market cap | $4.8B | – |
| P/E (trailing) | – | 5.2 |
| Dividend yield | 0.00% | 9.62% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EWTX | HQH |
|---|---|---|
| 2022 | -41.5% | -17.3% |
| 2023 | +22.4% | +1.2% |
| 2024 | +144.1% | +10.2% |
| 2025 | -7.1% | +34.1% |
| 2026 | +78.1% | +33.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EWTX and HQH good diversifiers for each other?
Reasonably. At 0.46, EWTX and HQH keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between EWTX and HQH?
Using weekly returns as of 2026-08-27: 0.46 over 3 years, with 0.51 over the last year and 0.39 over 5 years.
Is HQH a good diversifier for EWTX?
Reasonably. At 0.46, EWTX and HQH keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.46 mean?
On the −1 to +1 scale, 0.46 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/ewtx-vs-hqh.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ewtx-vs-hqh/)
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Related comparisons
Hubs: EWTX correlations · HQH correlations
