HQL vs SLDB: Correlation
Measured on weekly returns over the past three years, abrdn Life Sciences Investors Shares of Beneficial Interest (HQL) and Solid Biosciences Inc. (SLDB) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HQL and SLDB?
On 3 years of weekly data the HQL/SLDB correlation comes out at 0.53, moderate. Recent behaviour matches the longer record: 0.58 over 1 year against 0.53 over 3. The 5-year figure is 0.49, and annualized covariance runs at 1299.8 %².
Among the 72 assets we track against HQL, SLDB ranks #21 by 3-year correlation. Twelve-month performance is nearly a tie, at +75.9% for HQL and +80.2% for SLDB. Note the risk asymmetry: SLDB runs 4.4 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 SLDB: side by side
| HQL (abrdn Life Sciences Investors Shares of Beneficial Interest) | SLDB (Solid Biosciences Inc.) | |
|---|---|---|
| 1-year return | +75.9% | +80.2% |
| 5-year return | +74.1% | -75.0% |
| Volatility (ann.) | 23.5% | 103.6% |
| Beta vs S&P 500 | 0.88 | 2.35 |
| Max drawdown (3Y) | -25.1% | -82.9% |
| Market cap | – | $1.1B |
| P/E (trailing) | 3.2 | – |
| Dividend yield | 8.87% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HQL | SLDB |
|---|---|---|
| 2022 | -19.2% | -79.5% |
| 2023 | +4.2% | +14.1% |
| 2024 | +11.0% | -34.9% |
| 2025 | +45.5% | +41.0% |
| 2026 | +40.9% | +79.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HQL and SLDB good diversifiers for each other?
Only partially. A correlation of 0.53 means HQL and SLDB 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 SLDB?
The HQL/SLDB correlation stands at 0.53 on a 3-year window (1 year: 0.58, 5 years: 0.49), computed from weekly returns as of 2026-08-27.
Is SLDB a good diversifier for HQL?
Only partially. A correlation of 0.53 means HQL and SLDB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.53 mean?
A reading of 0.53 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Hubs: HQL correlations · SLDB correlations
