GRX vs THW: Correlation
Measured on weekly returns over the past three years, The Gabelli Healthcare & Wellness Trust (GRX) and abrdn World Healthcare Fund Shares of Beneficial Interest (THW) carry a correlation of 0.68, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRX and THW?
Over the past 3 years, GRX and THW moved with a correlation of 0.68, which is strong. Lately the two have drifted apart, with the 1-year correlation at 0.56 versus 0.68 over 3 years. Over 5 years the correlation is 0.68, and the annualized covariance of weekly returns is 221.4 %².
By 3-year correlation, THW places #4 of the 26 assets tracked against GRX. Correlation aside, the last 12 months split them widely, with THW ahead by 19.4 points (+14.3% versus +33.7%).
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 THW: side by side
| GRX (The Gabelli Healthcare & Wellness Trust) | THW (abrdn World Healthcare Fund Shares of Beneficial Interest) | |
|---|---|---|
| 1-year return | +14.3% | +33.7% |
| 5-year return | +1.5% | +40.2% |
| Volatility (ann.) | 15.1% | 21.4% |
| Beta vs S&P 500 | 0.46 | 0.75 |
| Max drawdown (3Y) | -17.9% | -25.4% |
| Market cap | – | $0.6B |
| P/E (trailing) | 67.0 | 6.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GRX | THW |
|---|---|---|
| 2022 | -20.0% | -1.2% |
| 2023 | -3.3% | -11.5% |
| 2024 | +9.6% | +5.4% |
| 2025 | +7.0% | +31.1% |
| 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 THW good diversifiers for each other?
To a limited degree. At 0.68 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between GRX and THW?
Using weekly returns as of 2026-08-27: 0.68 over 3 years, with 0.56 over the last year and 0.68 over 5 years.
Is THW a good diversifier for GRX?
To a limited degree. At 0.68 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.68 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/grx-vs-thw.json
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Related comparisons
Hubs: GRX correlations · THW correlations
