HQL vs THW: Correlation
Measured on weekly returns over the past three years, abrdn Life Sciences Investors Shares of Beneficial Interest (HQL) and abrdn World Healthcare Fund Shares of Beneficial Interest (THW) carry a correlation of 0.75, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HQL and THW?
On 3 years of weekly data the HQL/THW correlation comes out at 0.75, strong. Little has changed lately, as the 1-year reading of 0.84 lands near the 3-year figure. The 5-year figure is 0.73, and annualized covariance runs at 376.5 %².
By 3-year correlation, THW places #4 of the 72 assets tracked against HQL. Correlation aside, the last 12 months split them widely, with HQL ahead by 42.2 points (+75.9% versus +33.7%).
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 THW: side by side
| HQL (abrdn Life Sciences Investors Shares of Beneficial Interest) | THW (abrdn World Healthcare Fund Shares of Beneficial Interest) | |
|---|---|---|
| 1-year return | +75.9% | +33.7% |
| 5-year return | +74.1% | +40.2% |
| Volatility (ann.) | 23.5% | 21.4% |
| Beta vs S&P 500 | 0.88 | 0.75 |
| Max drawdown (3Y) | -25.1% | -25.4% |
| Market cap | – | $0.6B |
| P/E (trailing) | 3.2 | 6.6 |
| Dividend yield | 8.87% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HQL | THW |
|---|---|---|
| 2022 | -19.2% | -1.2% |
| 2023 | +4.2% | -11.5% |
| 2024 | +11.0% | +5.4% |
| 2025 | +45.5% | +31.1% |
| 2026 | +40.9% | +18.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HQL and THW good diversifiers for each other?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between HQL and THW?
The HQL/THW correlation stands at 0.75 on a 3-year window (1 year: 0.84, 5 years: 0.73), computed from weekly returns as of 2026-08-27.
Is THW a good diversifier for HQL?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.75 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
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Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: HQL correlations · THW correlations
