GRX vs INGN: Correlation
How closely do The Gabelli Healthcare & Wellness Trust (GRX) and Inogen, Inc (INGN) trade together? Their weekly returns over three years give a correlation of 0.45, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRX and INGN?
Over the past 3 years, GRX and INGN moved with a correlation of 0.45, which is moderate. The past 12 months show a weaker link (0.23) than the 3-year average (0.45). Over 5 years the correlation is 0.40, and the annualized covariance of weekly returns is 431.5 %².
Within GRX's tracked universe of 26 assets, INGN comes in at #15 by 3-year correlation. The last year tells two different stories: GRX led by 44.8 percentage points, +14.3% for GRX against -30.5% for INGN. Risk is not evenly split, since INGN carries 4.2 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.
GRX vs INGN: side by side
| GRX (The Gabelli Healthcare & Wellness Trust) | INGN (Inogen, Inc) | |
|---|---|---|
| 1-year return | +14.3% | -30.5% |
| 5-year return | +1.5% | -90.7% |
| Volatility (ann.) | 15.1% | 64.0% |
| Beta vs S&P 500 | 0.46 | 1.24 |
| Max drawdown (3Y) | -17.9% | -57.6% |
| Market cap | – | $0.1B |
| P/E (trailing) | 67.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GRX | INGN |
|---|---|---|
| 2022 | -20.0% | -42.0% |
| 2023 | -3.3% | -72.1% |
| 2024 | +9.6% | +67.0% |
| 2025 | +7.0% | -26.7% |
| 2026 | +8.3% | -18.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRX and INGN good diversifiers for each other?
Reasonably. At 0.45, GRX and INGN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GRX and INGN?
As of 2026-08-27, the correlation of weekly returns between GRX and INGN is 0.45 over 3 years, 0.23 over 1 year and 0.40 over 5 years.
Is INGN a good diversifier for GRX?
Reasonably. At 0.45, GRX and INGN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 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 · INGN correlations
