PYT vs THW: Correlation
How closely do PPlus Tr GSC-2 Tr Ctf Fltg Rate (PYT) and abrdn World Healthcare Fund Shares of Beneficial Interest (THW) trade together? Their weekly returns over three years give a correlation of 0.32, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PYT and THW?
Across a 3-year window, the weekly returns of PYT and THW correlate at 0.32, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.17 versus 0.32 over 3 years. Stretching to 5 years gives 0.11, with an annualized covariance of 67.2 %².
Among the 11 assets we track against PYT, THW ranks #5 by 3-year correlation. The last year tells two different stories: THW led by 28.6 percentage points, +5.1% for PYT against +33.7% for THW. One caveat on sizing: THW is 2.2 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.
PYT vs THW: side by side
| PYT (PPlus Tr GSC-2 Tr Ctf Fltg Rate) | THW (abrdn World Healthcare Fund Shares of Beneficial Interest) | |
|---|---|---|
| 1-year return | +5.1% | +33.7% |
| 5-year return | +19.5% | +40.2% |
| Volatility (ann.) | 9.7% | 21.4% |
| Beta vs S&P 500 | 0.15 | 0.75 |
| Max drawdown (3Y) | -6.1% | -25.4% |
| Market cap | – | $0.6B |
| P/E (trailing) | – | 6.6 |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PYT | THW |
|---|---|---|
| 2022 | -14.1% | -1.2% |
| 2023 | +10.8% | -11.5% |
| 2024 | +8.3% | +5.4% |
| 2025 | +8.2% | +31.1% |
| 2026 | +4.7% | +18.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PYT and THW good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between PYT and THW?
Using weekly returns as of 2026-08-27: 0.32 over 3 years, with 0.17 over the last year and 0.11 over 5 years.
Is THW a good diversifier for PYT?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.32 mean?
A reading of 0.32 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/pyt-vs-thw.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pyt-vs-thw/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PYT correlations · THW correlations
