FULC vs HQL: Correlation
How closely do Fulcrum Therapeutics, Inc. (FULC) and abrdn Life Sciences Investors Shares of Beneficial Interest (HQL) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FULC and HQL?
Across a 3-year window, the weekly returns of FULC and HQL correlate at 0.40, moderate. Little has changed lately, as the 1-year reading of 0.44 lands near the 3-year figure. Stretching to 5 years gives 0.38, with an annualized covariance of 870.8 %².
Within FULC's tracked universe of 11 assets, HQL comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with HQL ahead by 117.8 points (-41.9% versus +75.9%). One caveat on sizing: FULC is 4.0 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.
FULC vs HQL: side by side
| FULC (Fulcrum Therapeutics, Inc.) | HQL (abrdn Life Sciences Investors Shares of Beneficial Interest) | |
|---|---|---|
| 1-year return | -41.9% | +75.9% |
| 5-year return | -86.0% | +74.1% |
| Volatility (ann.) | 92.9% | 23.5% |
| Beta vs S&P 500 | 1.49 | 0.88 |
| Max drawdown (3Y) | -79.1% | -25.1% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | 3.2 |
| Dividend yield | 0.00% | 8.87% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FULC | HQL |
|---|---|---|
| 2022 | -58.8% | -19.2% |
| 2023 | -7.3% | +4.2% |
| 2024 | -30.4% | +11.0% |
| 2025 | +140.6% | +45.5% |
| 2026 | -66.0% | +40.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FULC and HQL good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FULC and HQL?
As of 2026-08-27, the correlation of weekly returns between FULC and HQL is 0.40 over 3 years, 0.44 over 1 year and 0.38 over 5 years.
Is HQL a good diversifier for FULC?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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/fulc-vs-hql.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fulc-vs-hql/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FULC correlations · HQL correlations
