HQH vs IMTX: Correlation
How closely do abrdn Healthcare Investors Shares of Beneficial Interest (HQH) and Immatics N.V. (IMTX) trade together? Their weekly returns over three years give a correlation of 0.49, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HQH and IMTX?
Over the past 3 years, HQH and IMTX moved with a correlation of 0.49, which is moderate. Little has changed lately, as the 1-year reading of 0.43 lands near the 3-year figure. Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 622.3 %².
By 3-year correlation, IMTX places #15 of the 36 assets tracked against HQH. Over the last 12 months IMTX came out ahead by 13.5 percentage points (+59.8% against +73.3%). Note the risk asymmetry: IMTX runs 2.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 IMTX: side by side
| HQH (abrdn Healthcare Investors Shares of Beneficial Interest) | IMTX (Immatics N.V.) | |
|---|---|---|
| 1-year return | +59.8% | +73.3% |
| 5-year return | +51.1% | -25.9% |
| Volatility (ann.) | 21.8% | 57.9% |
| Beta vs S&P 500 | 0.83 | 1.62 |
| Max drawdown (3Y) | -21.1% | -74.1% |
| Market cap | – | $1.4B |
| P/E (trailing) | 5.2 | – |
| Dividend yield | 9.62% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HQH | IMTX |
|---|---|---|
| 2022 | -17.3% | -35.2% |
| 2023 | +1.2% | +20.9% |
| 2024 | +10.2% | -32.5% |
| 2025 | +34.1% | +47.7% |
| 2026 | +33.9% | -10.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HQH and IMTX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HQH and IMTX?
The HQH/IMTX correlation stands at 0.49 on a 3-year window (1 year: 0.43, 5 years: 0.44), computed from weekly returns as of 2026-08-27.
Is IMTX a good diversifier for HQH?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.49 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/hqh-vs-imtx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hqh-vs-imtx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HQH correlations · IMTX correlations
