HQL vs TCRX: Correlation
How closely do abrdn Life Sciences Investors Shares of Beneficial Interest (HQL) and TScan Therapeutics, Inc. (TCRX) trade together? Their weekly returns over three years give a correlation of 0.49, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HQL and TCRX?
Over the past 3 years, HQL and TCRX moved with a correlation of 0.49, which is moderate. Recent behaviour matches the longer record: 0.56 over 1 year against 0.49 over 3. Over 5 years the correlation is 0.30, and the annualized covariance of weekly returns is 957.3 %².
Among the 72 assets we track against HQL, TCRX ranks #34 by 3-year correlation. The last year tells two different stories: HQL led by 135.8 percentage points, +75.9% for HQL against -59.9% for TCRX. Risk is not evenly split, since TCRX carries 3.5 times the volatility of the other side.
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 TCRX: side by side
| HQL (abrdn Life Sciences Investors Shares of Beneficial Interest) | TCRX (TScan Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +75.9% | -59.9% |
| 5-year return | +74.1% | -91.3% |
| Volatility (ann.) | 23.5% | 82.6% |
| Beta vs S&P 500 | 0.88 | 2.01 |
| Max drawdown (3Y) | -25.1% | -92.4% |
| Market cap | – | $0.1B |
| P/E (trailing) | 3.2 | – |
| Dividend yield | 8.87% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HQL | TCRX |
|---|---|---|
| 2022 | -19.2% | -65.6% |
| 2023 | +4.2% | +276.1% |
| 2024 | +11.0% | -47.9% |
| 2025 | +45.5% | -67.1% |
| 2026 | +40.9% | -25.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HQL and TCRX good diversifiers for each other?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HQL and TCRX?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.56 over the last year and 0.30 over 5 years.
Is TCRX a good diversifier for HQL?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.49 mean?
A reading of 0.49 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hql-vs-tcrx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hql-vs-tcrx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HQL correlations · TCRX correlations
