HQL vs IRON: Correlation
Measured on weekly returns over the past three years, abrdn Life Sciences Investors Shares of Beneficial Interest (HQL) and Disc Medicine, Inc. (IRON) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HQL and IRON?
Across a 3-year window, the weekly returns of HQL and IRON correlate at 0.44, moderate. Little has changed lately, as the 1-year reading of 0.39 lands near the 3-year figure. Stretching to 5 years gives 0.35, with an annualized covariance of 619.5 %².
By 3-year correlation, IRON places #52 of the 72 assets tracked against HQL. Correlation aside, the last 12 months split them widely, with HQL ahead by 38.2 points (+75.9% versus +37.7%). Risk is not evenly split, since IRON carries 2.5 times the volatility of the other side.
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.
HQL vs IRON: side by side
| HQL (abrdn Life Sciences Investors Shares of Beneficial Interest) | IRON (Disc Medicine, Inc.) | |
|---|---|---|
| 1-year return | +75.9% | +37.7% |
| 5-year return | +74.1% | -32.4% |
| Volatility (ann.) | 23.5% | 59.7% |
| Beta vs S&P 500 | 0.88 | 1.70 |
| Max drawdown (3Y) | -25.1% | -64.8% |
| Market cap | – | $3.2B |
| P/E (trailing) | 3.2 | – |
| Dividend yield | 8.87% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HQL | IRON |
|---|---|---|
| 2022 | -19.2% | -77.2% |
| 2023 | +4.2% | +190.4% |
| 2024 | +11.0% | +9.8% |
| 2025 | +45.5% | +25.3% |
| 2026 | +40.9% | +4.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HQL and IRON good diversifiers for each other?
Reasonably. At 0.44, HQL and IRON keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HQL and IRON?
The HQL/IRON correlation stands at 0.44 on a 3-year window (1 year: 0.39, 5 years: 0.35), computed from weekly returns as of 2026-08-27.
Is IRON a good diversifier for HQL?
Reasonably. At 0.44, HQL and IRON keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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/hql-vs-iron.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hql-vs-iron/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HQL correlations · IRON correlations
