HQL vs OABI: Correlation
Measured on weekly returns over the past three years, abrdn Life Sciences Investors Shares of Beneficial Interest (HQL) and OmniAb, Inc. (OABI) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HQL and OABI?
Across a 3-year window, the weekly returns of HQL and OABI correlate at 0.45, moderate. Recent behaviour matches the longer record: 0.40 over 1 year against 0.45 over 3. Stretching to 5 years gives 0.33, with an annualized covariance of 713.8 %².
Among the 72 assets we track against HQL, OABI ranks #48 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months OABI outperformed by 110.4 percentage points (+75.9% for HQL against +186.3% for OABI). One caveat on sizing: OABI is 2.9 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 OABI: side by side
| HQL (abrdn Life Sciences Investors Shares of Beneficial Interest) | OABI (OmniAb, Inc.) | |
|---|---|---|
| 1-year return | +75.9% | +186.3% |
| 5-year return | +74.1% | -52.8% |
| Volatility (ann.) | 23.5% | 67.6% |
| Beta vs S&P 500 | 0.88 | 1.30 |
| Max drawdown (3Y) | -25.1% | -81.3% |
| Market cap | – | $0.7B |
| P/E (trailing) | 3.2 | – |
| Dividend yield | 8.87% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HQL | OABI |
|---|---|---|
| 2022 | -19.2% | -64.0% |
| 2023 | +4.2% | +71.4% |
| 2024 | +11.0% | -42.6% |
| 2025 | +45.5% | -47.7% |
| 2026 | +40.9% | +149.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HQL and OABI good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HQL and OABI?
The HQL/OABI correlation stands at 0.45 on a 3-year window (1 year: 0.40, 5 years: 0.33), computed from weekly returns as of 2026-08-27.
Is OABI a good diversifier for HQL?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 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-oabi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hql-vs-oabi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HQL correlations · OABI correlations
