GRX vs HCA: Correlation
How closely do The Gabelli Healthcare & Wellness Trust (GRX) and HCA Healthcare (HCA) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRX and HCA?
Over the past 3 years, GRX and HCA moved with a correlation of 0.38, which is moderate. Little has changed lately, as the 1-year reading of 0.35 lands near the 3-year figure. Over 5 years the correlation is 0.52, and the annualized covariance of weekly returns is 156.6 %².
Out of 26 assets tracked against GRX, HCA lands near the bottom at #22. On 12-month performance GRX holds a 10.1-point edge, +14.3% against +4.2%. One caveat on sizing: HCA is 1.8 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.
GRX vs HCA: side by side
| GRX (The Gabelli Healthcare & Wellness Trust) | HCA (HCA Healthcare) | |
|---|---|---|
| 1-year return | +14.3% | +4.2% |
| 5-year return | +1.5% | +72.5% |
| Volatility (ann.) | 15.1% | 26.9% |
| Beta vs S&P 500 | 0.46 | 0.42 |
| Max drawdown (3Y) | -17.9% | -33.6% |
| Market cap | – | $90.8B |
| P/E (trailing) | 67.0 | 14.1 |
| Dividend yield | 0.00% | 0.70% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | GRX | HCA |
|---|---|---|
| 2022 | -20.0% | -5.6% |
| 2023 | -3.3% | +13.8% |
| 2024 | +9.6% | +11.8% |
| 2025 | +7.0% | +56.7% |
| 2026 | +8.3% | -9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRX and HCA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GRX and HCA?
As of 2026-08-27, the correlation of weekly returns between GRX and HCA is 0.38 over 3 years, 0.35 over 1 year and 0.52 over 5 years.
Is HCA a good diversifier for GRX?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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.
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Related comparisons
Hubs: GRX correlations · HCA correlations
