HQH vs THW: Correlation
abrdn Healthcare Investors Shares of Beneficial Interest (HQH) and abrdn World Healthcare Fund Shares of Beneficial Interest (THW) show a strong relationship: their 3-year correlation of weekly returns is 0.78.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HQH and THW?
Across a 3-year window, the weekly returns of HQH and THW correlate at 0.78, strong. Little has changed lately, as the 1-year reading of 0.86 lands near the 3-year figure. Stretching to 5 years gives 0.77, with an annualized covariance of 366.2 %².
By 3-year correlation, THW places #4 of the 36 assets tracked against HQH. The last year tells two different stories: HQH led by 26.1 percentage points, +59.8% for HQH against +33.7% for THW.
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 THW: side by side
| HQH (abrdn Healthcare Investors Shares of Beneficial Interest) | THW (abrdn World Healthcare Fund Shares of Beneficial Interest) | |
|---|---|---|
| 1-year return | +59.8% | +33.7% |
| 5-year return | +51.1% | +40.2% |
| Volatility (ann.) | 21.8% | 21.4% |
| Beta vs S&P 500 | 0.83 | 0.75 |
| Max drawdown (3Y) | -21.1% | -25.4% |
| Market cap | – | $0.6B |
| P/E (trailing) | 5.2 | 6.6 |
| Dividend yield | 9.62% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HQH | THW |
|---|---|---|
| 2022 | -17.3% | -1.2% |
| 2023 | +1.2% | -11.5% |
| 2024 | +10.2% | +5.4% |
| 2025 | +34.1% | +31.1% |
| 2026 | +33.9% | +18.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HQH and THW good diversifiers for each other?
Only partially. A correlation of 0.78 means HQH and THW share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between HQH and THW?
The HQH/THW correlation stands at 0.78 on a 3-year window (1 year: 0.86, 5 years: 0.77), computed from weekly returns as of 2026-08-27.
Is THW a good diversifier for HQH?
Only partially. A correlation of 0.78 means HQH and THW share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.78 mean?
On the −1 to +1 scale, 0.78 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hqh-vs-thw.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: HQH correlations · THW correlations
