Aberdeen Standard Correlations

ASGI Fund

USD 18.37 0.04 0.22%

The correlation of Aberdeen Standard 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.

Aberdeen Standard Correlation With Market

Weak diversification

The correlation between Aberdeen Standard Global and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aberdeen Standard Global 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 Standard Global. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Aberdeen Fund

0.86	DUKB	Duke Energy Corp	Pair Corr
0.65	AQNB	Algonquin Power Utilities	Pair Corr
0.79	ES	Eversource Energy	Pair Corr
0.81	HE	Hawaiian Electric	Pair Corr
0.64	CDZIP	Cadiz Depositary Shares Earnings Call Today	Pair Corr
0.85	ELPC	Companhia Paranaense	Pair Corr
0.61	BKH	Black Hills	Pair Corr

Moving against Aberdeen Fund

0.7	RNWWW	ReNew Energy Global	Pair Corr
0.51	NOVA	Sunnova Energy Inter	Pair Corr
0.37	ELLO	Ellomay Capital Earnings Call This Week	Pair Corr
0.39	CEG	Constellation Energy Corp	Pair Corr
0.39	GEV	GE Vernova LLC	Pair Corr
0.38	BIP	Brookfield Infrastructure	Pair Corr

Related Correlations Analysis

	KMF	MQY	PAXS	NMCO	WDI	EVF	EFT	FRA	CPZ	DTF
KMF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	KMF
MQY	0.0		0.79	0.88	0.78	0.15	0.17	-0.34	0.45	0.68	MQY
PAXS	0.0	0.79		0.91	0.86	0.03	0.08	-0.12	0.7	0.31	PAXS
NMCO	0.0	0.88	0.91		0.86	0.15	0.21	-0.41	0.57	0.64	NMCO
WDI	0.0	0.78	0.86	0.86		0.45	0.44	-0.27	0.46	0.52	WDI
EVF	0.0	0.15	0.03	0.15	0.45		0.91	-0.32	-0.28	0.43	EVF
EFT	0.0	0.17	0.08	0.21	0.44	0.91		-0.41	-0.18	0.49	EFT
FRA	0.0	-0.34	-0.12	-0.41	-0.27	-0.32	-0.41		-0.25	-0.72	FRA
CPZ	0.0	0.45	0.7	0.57	0.46	-0.28	-0.18	-0.25		0.05	CPZ
DTF	0.0	0.68	0.31	0.64	0.52	0.43	0.49	-0.72	0.05		DTF
	KMF	MQY	PAXS	NMCO	WDI	EVF	EFT	FRA	CPZ	DTF

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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

NMCO	+ 0.91	PAXS
EFT	+ 0.91	EVF
NMCO	+ 0.88	MQY
WDI	+ 0.86	PAXS
WDI	+ 0.86	NMCO
PAXS	+ 0.79	MQY

High negative correlations

DTF	- 0.72	FRA
FRA	- 0.41	EFT
FRA	- 0.41	NMCO
FRA	- 0.34	MQY
FRA	- 0.32	EVF
CPZ	- 0.28	EVF

Risk-Adjusted Indicators

There is a big difference between Aberdeen Fund performing well and Aberdeen Standard 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 Standard'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
KMF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MQY	0.50	(0.04)	0.00	(0.22)	0.00	0.00	1.04	(0.95)	2.85
PAXS	0.47	0.09	0.12	0.27	0.62	(0.48)	1.28	(0.85)	3.61
NMCO	0.43	0.07	0.12	0.51	0.40	(0.49)	0.92	(0.66)	2.69
WDI	0.40	0.07	0.12	0.19	0.41	(0.45)	0.92	(0.93)	2.66
EVF	0.33	(0.05)	0.00	(0.46)	0.00	0.00	0.66	(0.66)	1.98
EFT	0.45	(0.08)	0.00	(0.43)	0.00	0.00	1.02	(0.77)	3.09
FRA	0.47	(0.11)	0.00	(0.69)	0.00	0.00	1.10	(1.11)	3.05
CPZ	0.52	0.09	0.16	(0.79)	0.40	(0.64)	1.11	(0.91)	3.45
DTF	0.31	0.01	0.01	(0.41)	0.45	(0.31)	0.72	(0.62)	1.72

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