HQL vs XNCR: Correlation
How closely do abrdn Life Sciences Investors Shares of Beneficial Interest (HQL) and Xencor, Inc. (XNCR) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HQL and XNCR?
Across a 3-year window, the weekly returns of HQL and XNCR correlate at 0.55, moderate. Recent behaviour matches the longer record: 0.47 over 1 year against 0.55 over 3. Stretching to 5 years gives 0.54, with an annualized covariance of 783.1 %².
Among the 72 assets we track against HQL, XNCR ranks #16 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months XNCR outperformed by 184.2 percentage points (+75.9% for HQL against +260.1% for XNCR). One caveat on sizing: XNCR is 2.6 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 XNCR: side by side
| HQL (abrdn Life Sciences Investors Shares of Beneficial Interest) | XNCR (Xencor, Inc.) | |
|---|---|---|
| 1-year return | +75.9% | +260.1% |
| 5-year return | +74.1% | -14.8% |
| Volatility (ann.) | 23.5% | 60.9% |
| Beta vs S&P 500 | 0.88 | 1.37 |
| Max drawdown (3Y) | -25.1% | -73.9% |
| Market cap | – | $2.1B |
| P/E (trailing) | 3.2 | – |
| Dividend yield | 8.87% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HQL | XNCR |
|---|---|---|
| 2022 | -19.2% | -35.1% |
| 2023 | +4.2% | -18.5% |
| 2024 | +11.0% | +8.2% |
| 2025 | +45.5% | -33.4% |
| 2026 | +40.9% | +88.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HQL and XNCR good diversifiers for each other?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between HQL and XNCR?
As of 2026-08-27, the correlation of weekly returns between HQL and XNCR is 0.55 over 3 years, 0.47 over 1 year and 0.54 over 5 years.
Is XNCR a good diversifier for HQL?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.55 mean?
On the −1 to +1 scale, 0.55 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.
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Related comparisons
Hubs: HQL correlations · XNCR correlations
