HQH vs MRNA: Correlation
abrdn Healthcare Investors Shares of Beneficial Interest (HQH) and Moderna (MRNA) show a moderate relationship: their 3-year correlation of weekly returns is 0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HQH and MRNA?
Across a 3-year window, the weekly returns of HQH and MRNA correlate at 0.38, moderate. Recent behaviour matches the longer record: 0.29 over 1 year against 0.38 over 3. Stretching to 5 years gives 0.41, with an annualized covariance of 841.7 %².
MRNA is close to the least connected end of HQH's tracked universe, ranking #33 of 36. Correlation aside, the last 12 months split them widely, with MRNA ahead by 409.0 points (+59.8% versus +468.8%). One caveat on sizing: MRNA is 4.6 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.
HQH vs MRNA: side by side
| HQH (abrdn Healthcare Investors Shares of Beneficial Interest) | MRNA (Moderna) | |
|---|---|---|
| 1-year return | +59.8% | +468.8% |
| 5-year return | +51.1% | -61.5% |
| Volatility (ann.) | 21.8% | 100.7% |
| Beta vs S&P 500 | 0.83 | 0.98 |
| Max drawdown (3Y) | -21.1% | -86.6% |
| Market cap | – | $57.0B |
| P/E (trailing) | 5.2 | – |
| Dividend yield | 9.62% | 0.00% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | HQH | MRNA |
|---|---|---|
| 2022 | -17.3% | -29.3% |
| 2023 | +1.2% | -44.6% |
| 2024 | +10.2% | -58.2% |
| 2025 | +34.1% | -29.1% |
| 2026 | +33.9% | +384.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HQH and MRNA good diversifiers for each other?
Reasonably. At 0.38, HQH and MRNA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HQH and MRNA?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.29 over the last year and 0.41 over 5 years.
Is MRNA a good diversifier for HQH?
Reasonably. At 0.38, HQH and MRNA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.38 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-mrna.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hqh-vs-mrna/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HQH correlations · MRNA correlations
