HQL vs XERS: Correlation
How closely do abrdn Life Sciences Investors Shares of Beneficial Interest (HQL) and Xeris Biopharma Holdings, Inc. (XERS) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HQL and XERS?
Over the past 3 years, HQL and XERS moved with a correlation of 0.46, which is moderate. The relationship has been stable: the 1-year correlation (0.55) sits close to the 3-year figure. Over 5 years the correlation is 0.39, and the annualized covariance of weekly returns is 635.9 %².
Within HQL's tracked universe of 72 assets, XERS comes in at #44 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months HQL outperformed by 68.3 percentage points (+75.9% for HQL against +7.6% for XERS). One caveat on sizing: XERS is 2.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 XERS: side by side
| HQL (abrdn Life Sciences Investors Shares of Beneficial Interest) | XERS (Xeris Biopharma Holdings, Inc.) | |
|---|---|---|
| 1-year return | +75.9% | +7.6% |
| 5-year return | +74.1% | +212.7% |
| Volatility (ann.) | 23.5% | 58.5% |
| Beta vs S&P 500 | 0.88 | 1.29 |
| Max drawdown (3Y) | -25.1% | -47.2% |
| Market cap | – | $1.6B |
| P/E (trailing) | 3.2 | – |
| Dividend yield | 8.87% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HQL | XERS |
|---|---|---|
| 2022 | -19.2% | -54.6% |
| 2023 | +4.2% | +76.7% |
| 2024 | +11.0% | +44.3% |
| 2025 | +45.5% | +131.6% |
| 2026 | +40.9% | +9.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HQL and XERS good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HQL and XERS?
Using weekly returns as of 2026-08-27: 0.46 over 3 years, with 0.55 over the last year and 0.39 over 5 years.
Is XERS a good diversifier for HQL?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 mean?
On the −1 to +1 scale, 0.46 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-xers.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hql-vs-xers/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HQL correlations · XERS correlations
