HQL vs MGTX: Correlation
abrdn Life Sciences Investors Shares of Beneficial Interest (HQL) and MeiraGTx Holdings plc (MGTX) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HQL and MGTX?
Over the past 3 years, HQL and MGTX moved with a correlation of 0.50, which is moderate. The past 12 months show a tighter link (0.68) than the 3-year average (0.50). Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 909.4 %².
Among the 72 assets we track against HQL, MGTX ranks #31 by 3-year correlation. The trailing year gives MGTX the advantage: +75.9% versus +90.1%, a 14.2-point spread. Note the risk asymmetry: MGTX runs 3.3 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 MGTX: side by side
| HQL (abrdn Life Sciences Investors Shares of Beneficial Interest) | MGTX (MeiraGTx Holdings plc) | |
|---|---|---|
| 1-year return | +75.9% | +90.1% |
| 5-year return | +74.1% | +2.2% |
| Volatility (ann.) | 23.5% | 77.0% |
| Beta vs S&P 500 | 0.88 | 2.02 |
| Max drawdown (3Y) | -25.1% | -47.1% |
| Market cap | – | $1.4B |
| P/E (trailing) | 3.2 | 16.8 |
| Dividend yield | 8.87% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HQL | MGTX |
|---|---|---|
| 2022 | -19.2% | -72.5% |
| 2023 | +4.2% | +7.7% |
| 2024 | +11.0% | -13.2% |
| 2025 | +45.5% | +30.5% |
| 2026 | +40.9% | +77.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HQL and MGTX good diversifiers for each other?
Only partially. A correlation of 0.50 means HQL and MGTX 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 HQL and MGTX?
The HQL/MGTX correlation stands at 0.50 on a 3-year window (1 year: 0.68, 5 years: 0.48), computed from weekly returns as of 2026-08-27.
Is MGTX a good diversifier for HQL?
Only partially. A correlation of 0.50 means HQL and MGTX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.50 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
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Related comparisons
Hubs: HQL correlations · MGTX correlations
