HQL vs MRNA: Correlation
How closely do abrdn Life Sciences Investors Shares of Beneficial Interest (HQL) and Moderna (MRNA) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HQL and MRNA?
On 3 years of weekly data the HQL/MRNA correlation comes out at 0.41, moderate. The relationship has been stable: the 1-year correlation (0.36) sits close to the 3-year figure. The 5-year figure is 0.45, and annualized covariance runs at 967.9 %².
By 3-year correlation, MRNA places #59 of the 72 assets tracked against HQL. The last year tells two different stories: MRNA led by 392.9 percentage points, +75.9% for HQL against +468.8% for MRNA. One caveat on sizing: MRNA is 4.3 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 MRNA: side by side
| HQL (abrdn Life Sciences Investors Shares of Beneficial Interest) | MRNA (Moderna) | |
|---|---|---|
| 1-year return | +75.9% | +468.8% |
| 5-year return | +74.1% | -61.5% |
| Volatility (ann.) | 23.5% | 100.7% |
| Beta vs S&P 500 | 0.88 | 0.98 |
| Max drawdown (3Y) | -25.1% | -86.6% |
| Market cap | – | $57.0B |
| P/E (trailing) | 3.2 | – |
| Dividend yield | 8.87% | 0.00% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | HQL | MRNA |
|---|---|---|
| 2022 | -19.2% | -29.3% |
| 2023 | +4.2% | -44.6% |
| 2024 | +11.0% | -58.2% |
| 2025 | +45.5% | -29.1% |
| 2026 | +40.9% | +384.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HQL and MRNA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HQL and MRNA?
The HQL/MRNA correlation stands at 0.41 on a 3-year window (1 year: 0.36, 5 years: 0.45), computed from weekly returns as of 2026-08-27.
Is MRNA a good diversifier for HQL?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 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-mrna.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hql-vs-mrna/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HQL correlations · MRNA correlations
