HQL vs PCVX: Correlation
Measured on weekly returns over the past three years, abrdn Life Sciences Investors Shares of Beneficial Interest (HQL) and Vaxcyte, Inc. (PCVX) carry a correlation of 0.58, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HQL and PCVX?
Across a 3-year window, the weekly returns of HQL and PCVX correlate at 0.58, moderate. The relationship has been stable: the 1-year correlation (0.66) sits close to the 3-year figure. Stretching to 5 years gives 0.45, with an annualized covariance of 789.1 %².
Among the 72 assets we track against HQL, PCVX ranks #10 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months PCVX outperformed by 24.3 percentage points (+75.9% for HQL against +100.2% for PCVX). Note the risk asymmetry: PCVX runs 2.5 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 PCVX: side by side
| HQL (abrdn Life Sciences Investors Shares of Beneficial Interest) | PCVX (Vaxcyte, Inc.) | |
|---|---|---|
| 1-year return | +75.9% | +100.2% |
| 5-year return | +74.1% | +130.8% |
| Volatility (ann.) | 23.5% | 57.9% |
| Beta vs S&P 500 | 0.88 | 1.40 |
| Max drawdown (3Y) | -25.1% | -76.2% |
| Market cap | – | $9.1B |
| P/E (trailing) | 3.2 | – |
| Dividend yield | 8.87% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HQL | PCVX |
|---|---|---|
| 2022 | -19.2% | +101.6% |
| 2023 | +4.2% | +31.0% |
| 2024 | +11.0% | +30.4% |
| 2025 | +45.5% | -43.6% |
| 2026 | +40.9% | +32.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HQL and PCVX good diversifiers for each other?
Only partially. A correlation of 0.58 means HQL and PCVX 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 PCVX?
The HQL/PCVX correlation stands at 0.58 on a 3-year window (1 year: 0.66, 5 years: 0.45), computed from weekly returns as of 2026-08-27.
Is PCVX a good diversifier for HQL?
Only partially. A correlation of 0.58 means HQL and PCVX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.58 mean?
On the −1 to +1 scale, 0.58 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-pcvx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hql-vs-pcvx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HQL correlations · PCVX correlations
