HQL vs KNSA: Correlation
Measured on weekly returns over the past three years, abrdn Life Sciences Investors Shares of Beneficial Interest (HQL) and Kiniksa Pharmaceuticals International, plc - Class A (KNSA) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HQL and KNSA?
Over the past 3 years, HQL and KNSA moved with a correlation of 0.38, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.17 versus 0.38 over 3 years. Over 5 years the correlation is 0.32, and the annualized covariance of weekly returns is 407.1 %².
Within HQL's tracked universe of 72 assets, KNSA comes in at #67 by 3-year correlation. The last year tells two different stories: KNSA led by 60.9 percentage points, +75.9% for HQL against +136.8% for KNSA. Note the risk asymmetry: KNSA runs 2.0 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.
HQL vs KNSA: side by side
| HQL (abrdn Life Sciences Investors Shares of Beneficial Interest) | KNSA (Kiniksa Pharmaceuticals International, plc - Class A) | |
|---|---|---|
| 1-year return | +75.9% | +136.8% |
| 5-year return | +74.1% | +550.9% |
| Volatility (ann.) | 23.5% | 46.0% |
| Beta vs S&P 500 | 0.88 | 0.55 |
| Max drawdown (3Y) | -25.1% | -34.1% |
| Market cap | – | $6.2B |
| P/E (trailing) | 3.2 | 79.8 |
| Dividend yield | 8.87% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HQL | KNSA |
|---|---|---|
| 2022 | -19.2% | +27.3% |
| 2023 | +4.2% | +17.1% |
| 2024 | +11.0% | +12.8% |
| 2025 | +45.5% | +108.5% |
| 2026 | +40.9% | +93.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HQL and KNSA good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HQL and KNSA?
The HQL/KNSA correlation stands at 0.38 on a 3-year window (1 year: 0.17, 5 years: 0.32), computed from weekly returns as of 2026-08-27.
Is KNSA a good diversifier for HQL?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 mean?
A reading of 0.38 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/hql-vs-knsa.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hql-vs-knsa/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HQL correlations · KNSA correlations
