IQV vs THW: Correlation
Measured on weekly returns over the past three years, IQVIA (IQV) and abrdn World Healthcare Fund Shares of Beneficial Interest (THW) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IQV and THW?
Across a 3-year window, the weekly returns of IQV and THW correlate at 0.53, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.41 versus 0.53 over 3 years. Stretching to 5 years gives 0.56, with an annualized covariance of 429.5 %².
Among the 37 assets we track against IQV, THW ranks #16 by 3-year correlation. On 12-month performance IQV holds a 5.3-point edge, +39.0% against +33.7%. Note the risk asymmetry: IQV runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
IQV vs THW: side by side
| IQV (IQVIA) | THW (abrdn World Healthcare Fund Shares of Beneficial Interest) | |
|---|---|---|
| 1-year return | +39.0% | +33.7% |
| 5-year return | +0.3% | +40.2% |
| Volatility (ann.) | 37.9% | 21.4% |
| Beta vs S&P 500 | 0.93 | 0.75 |
| Max drawdown (3Y) | -47.1% | -25.4% |
| Market cap | $43.2B | $0.6B |
| P/E (trailing) | 32.6 | 6.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | IQV | THW |
|---|---|---|
| 2022 | -27.4% | -1.2% |
| 2023 | +12.9% | -11.5% |
| 2024 | -15.1% | +5.4% |
| 2025 | +14.7% | +31.1% |
| 2026 | +16.4% | +18.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IQV and THW good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between IQV and THW?
As of 2026-08-27, the correlation of weekly returns between IQV and THW is 0.53 over 3 years, 0.41 over 1 year and 0.56 over 5 years.
Is THW a good diversifier for IQV?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 mean?
On the −1 to +1 scale, 0.53 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: IQV correlations · THW correlations
