HQL vs XENE: Correlation
How closely do abrdn Life Sciences Investors Shares of Beneficial Interest (HQL) and Xenon Pharmaceuticals Inc. (XENE) trade together? Their weekly returns over three years give a correlation of 0.58, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HQL and XENE?
Over the past 3 years, HQL and XENE moved with a correlation of 0.58, which is moderate. The relationship has been stable: the 1-year correlation (0.51) sits close to the 3-year figure. Over 5 years the correlation is 0.35, and the annualized covariance of weekly returns is 601.1 %².
Within HQL's tracked universe of 72 assets, XENE comes in at #12 by 3-year correlation. The last year tells two different stories: HQL led by 16.6 percentage points, +75.9% for HQL against +59.3% for XENE. Risk is not evenly split, since XENE carries 1.9 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 XENE: side by side
| HQL (abrdn Life Sciences Investors Shares of Beneficial Interest) | XENE (Xenon Pharmaceuticals Inc.) | |
|---|---|---|
| 1-year return | +75.9% | +59.3% |
| 5-year return | +74.1% | +266.2% |
| Volatility (ann.) | 23.5% | 44.0% |
| Beta vs S&P 500 | 0.88 | 0.83 |
| Max drawdown (3Y) | -25.1% | -43.6% |
| Market cap | – | $6.0B |
| P/E (trailing) | 3.2 | – |
| Dividend yield | 8.87% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HQL | XENE |
|---|---|---|
| 2022 | -19.2% | +26.2% |
| 2023 | +4.2% | +16.8% |
| 2024 | +11.0% | -14.9% |
| 2025 | +45.5% | +14.3% |
| 2026 | +40.9% | +38.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HQL and XENE good diversifiers for each other?
Only partially. A correlation of 0.58 means HQL and XENE 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 XENE?
Using weekly returns as of 2026-08-27: 0.58 over 3 years, with 0.51 over the last year and 0.35 over 5 years.
Is XENE a good diversifier for HQL?
Only partially. A correlation of 0.58 means HQL and XENE 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?
A reading of 0.58 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-xene.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hql-vs-xene/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HQL correlations · XENE correlations
