Aberdeen Income Correlations

ACP Fund

USD 6.00 0.03 0.50%

The current 90-days correlation between Aberdeen Income Credit and Allianzgi Convertible Income is 0.45 (i.e., Very weak diversification). The correlation of Aberdeen Income is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Aberdeen Income Correlation With Market

Modest diversification

The correlation between Aberdeen Income Credit and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aberdeen Income Credit and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Aberdeen Income Credit. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Aberdeen Fund

0.77	NEA	Nuveen Amt Free	Pair Corr
0.79	DNP	Dnp Select Income	Pair Corr
0.81	NAD	Nuveen Dividend Advantage	Pair Corr
0.81	NVG	Nuveen Amt Free	Pair Corr
0.78	UTF	Cohen And Steers	Pair Corr
0.75	NZF	Nuveen Municipal Credit	Pair Corr
0.73	NAC	Nuveen California	Pair Corr
0.9	PTY	Pimco Corporate Income	Pair Corr
0.84	DBIWX	Dws Global Macro	Pair Corr
0.73	ABNOX	Ab Bond Inflation	Pair Corr
0.81	HWACX	Hotchkis Wiley Value	Pair Corr
0.84	PGLSX	Global Multi Strategy	Pair Corr
0.72	SGDLX	Sprott Gold Equity	Pair Corr
0.87	HTD	John Hancock Tax	Pair Corr
0.79	GIOIX	Guggenheim Macro Opp	Pair Corr

Related Correlations Analysis

	NCV	SPE	OPP	GLV	RIV	PCF	CRF	GLO	ECC
NCV		0.37	-0.36	0.13	0.29	-0.05	0.8	0.89	0.42	NCV
SPE	0.37		0.68	0.71	0.87	0.83	0.14	0.53	0.17	SPE
OPP	-0.36	0.68		0.62	0.63	0.89	-0.51	-0.16	-0.15	OPP
GLV	0.13	0.71	0.62		0.7	0.75	-0.19	0.33	-0.27	GLV
RIV	0.29	0.87	0.63	0.7		0.81	0.08	0.51	0.28	RIV
PCF	-0.05	0.83	0.89	0.75	0.81		-0.27	0.19	0.0	PCF
CRF	0.8	0.14	-0.51	-0.19	0.08	-0.27		0.78	0.53	CRF
GLO	0.89	0.53	-0.16	0.33	0.51	0.19	0.78		0.43	GLO
ECC	0.42	0.17	-0.15	-0.27	0.28	0.0	0.53	0.43		ECC
	NCV	SPE	OPP	GLV	RIV	PCF	CRF	GLO	ECC

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

GLO	+ 0.89	NCV
PCF	+ 0.89	OPP
RIV	+ 0.87	SPE
PCF	+ 0.83	SPE
PCF	+ 0.81	RIV
CRF	+ 0.8	NCV

High negative correlations

CRF	- 0.51	OPP
OPP	- 0.36	NCV
CRF	- 0.27	PCF
ECC	- 0.27	GLV
CRF	- 0.19	GLV
GLO	- 0.16	OPP

Risk-Adjusted Indicators

There is a big difference between Aberdeen Fund performing well and Aberdeen Income Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Aberdeen Income's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
NCV	0.84	(0.05)	0.00	(0.15)	0.00	0.00	1.73	(1.84)	4.59
SPE	0.66	0.01	0.00	(0.04)	0.00	0.00	1.27	(1.43)	3.45
OPP	0.42	0.08	0.23	0.37	0.39	(0.48)	0.82	(0.86)	2.32
GLV	0.59	0.05	0.11	0.06	0.70	(0.66)	1.33	(1.30)	2.82
RIV	0.62	(0.01)	0.00	(0.08)	0.00	0.00	1.48	(1.59)	4.71
PCF	0.52	0.06	0.16	0.15	0.53	(0.65)	1.13	(1.03)	2.94
CRF	1.11	(0.14)	0.00	(0.24)	0.00	0.00	1.64	(3.36)	11.53
GLO	0.72	0.00	0.00	(0.07)	0.00	0.00	1.79	(1.53)	5.47
ECC	0.70	(0.11)	0.00	(0.76)	0.00	0.00	2.01	(1.49)	6.76

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