HQH vs XBI: Correlation
How closely do abrdn Healthcare Investors Shares of Beneficial Interest (HQH) and SPDR S&P Biotech ETF (XBI) trade together? Their weekly returns over three years give a correlation of 0.80, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HQH and XBI?
Across a 3-year window, the weekly returns of HQH and XBI correlate at 0.80, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.75 lands near the 3-year figure. Stretching to 5 years gives 0.76, with an annualized covariance of 481.1 %².
XBI is one of the assets that tracks HQH most closely: it ranks #3 out of the 36 assets we track against HQH. Their recent paths diverged sharply: over the last 12 months XBI outperformed by 27.4 percentage points (+59.8% for HQH against +87.2% for XBI).
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 XBI: side by side
| HQH (abrdn Healthcare Investors Shares of Beneficial Interest) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +59.8% | +87.2% |
| 5-year return | +51.1% | +28.6% |
| Volatility (ann.) | 21.8% | 27.7% |
| Beta vs S&P 500 | 0.83 | 1.09 |
| Max drawdown (3Y) | -21.1% | -33.0% |
| Market cap | – | – |
| P/E (trailing) | 5.2 | – |
| Dividend yield | 9.62% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | HQH | XBI |
|---|---|---|
| 2022 | -17.3% | -25.9% |
| 2023 | +1.2% | +7.6% |
| 2024 | +10.2% | +1.0% |
| 2025 | +34.1% | +35.9% |
| 2026 | +33.9% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HQH and XBI good diversifiers for each other?
No: a correlation of 0.80 means HQH and XBI tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between HQH and XBI?
The HQH/XBI correlation stands at 0.80 on a 3-year window (1 year: 0.75, 5 years: 0.76), computed from weekly returns as of 2026-08-27.
Is XBI a good diversifier for HQH?
No: a correlation of 0.80 means HQH and XBI tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.80 mean?
A reading of 0.80 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
$ curl https://www.pairbook.io/api/v1/pairs/hqh-vs-xbi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hqh-vs-xbi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HQH correlations · XBI correlations
