HQH vs IBB: Correlation
How closely do abrdn Healthcare Investors Shares of Beneficial Interest (HQH) and iShares Biotechnology ETF (IBB) trade together? Their weekly returns over three years give a correlation of 0.81, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HQH and IBB?
On 3 years of weekly data the HQH/IBB correlation comes out at 0.81, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.72 over 1 year against 0.81 over 3. The 5-year figure is 0.82, and annualized covariance runs at 367.7 %².
IBB is one of the assets that tracks HQH most closely: it ranks #2 out of the 36 assets we track against HQH. Their 12-month results are close: +59.8% for HQH against +55.4% for IBB.
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.
HQH vs IBB: side by side
| HQH (abrdn Healthcare Investors Shares of Beneficial Interest) | IBB (iShares Biotechnology ETF) | |
|---|---|---|
| 1-year return | +59.8% | +55.4% |
| 5-year return | +51.1% | +26.6% |
| Volatility (ann.) | 21.8% | 20.7% |
| Beta vs S&P 500 | 0.83 | 0.81 |
| Max drawdown (3Y) | -21.1% | -24.9% |
| Market cap | – | – |
| P/E (trailing) | 5.2 | – |
| Dividend yield | 9.62% | 0.22% |
| Expense ratio | – | 0.44% |
| Assets under management | – | $9.2B |
| Sector / category | US Listed | ETF · Thematic |
IBB, iShares's Health fund, carries $9.2B under management, 235 holdings, a 0.44% expense ratio, a 0.22% trailing dividend yield.
Year-by-year returns
| Year | HQH | IBB |
|---|---|---|
| 2022 | -17.3% | -13.7% |
| 2023 | +1.2% | +3.8% |
| 2024 | +10.2% | -2.4% |
| 2025 | +34.1% | +28.0% |
| 2026 | +33.9% | +27.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HQH and IBB good diversifiers for each other?
Not really. At 0.81, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between HQH and IBB?
The HQH/IBB correlation stands at 0.81 on a 3-year window (1 year: 0.72, 5 years: 0.82), computed from weekly returns as of 2026-08-27.
Is IBB a good diversifier for HQH?
Not really. At 0.81, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.81 mean?
A reading of 0.81 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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[](https://www.pairbook.io/pair/hqh-vs-ibb/)
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Related comparisons
Hubs: HQH correlations · IBB correlations
