Aberdeen Gbl Correlations

GWLRX Fund

USD 11.23 0.05 0.44%

The current 90-days correlation between Aberdeen Gbl Eq and Aberdeen Emerging Markets is 0.74 (i.e., Poor diversification). The correlation of Aberdeen Gbl 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 Gbl Correlation With Market

Very weak diversification

The correlation between Aberdeen Gbl Eq and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aberdeen Gbl Eq and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Aberdeen Gbl Eq. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Aberdeen Mutual Fund

1.0	GWLIX	Aberdeen Gbl Eq	Pair Corr
0.87	WVCCX	Aberdeen Gbl Small	Pair Corr
0.67	ASEMX	Abrdn Em Sma	Pair Corr
0.87	ABNIX	Aberdeen Global Small	Pair Corr
0.89	JETAX	Aberdeen Select Inte	Pair Corr
0.89	JETIX	Aberdeen Select Inte	Pair Corr
0.81	ADAVX	Alpine Dynamic Dividend	Pair Corr
0.82	ADVDX	Alpine Dynamic Dividend	Pair Corr
1.0	GLLAX	Aberdeen Gbl Eq	Pair Corr
1.0	GLLCX	Aberdeen Gbl Eq	Pair Corr
1.0	GLLSX	Aberdeen Global Equty	Pair Corr

Moving against Aberdeen Mutual Fund

0.66	ATOAX	Alpine Ultra Short	Pair Corr
0.66	ATOBX	Aberdeen Ultra Short	Pair Corr
0.66	ATOIX	Alpine Ultra Short	Pair Corr
0.52	GGUIX	Aberdeen Eq Long	Pair Corr
0.54	GNSRX	Aberdeen Small Cap	Pair Corr
0.54	GSCIX	Aberdeen Small Cap	Pair Corr
0.54	GSXAX	Aberdeen Small Cap	Pair Corr
0.54	GSXIX	Aberdeen Small Cap	Pair Corr
0.53	GSXCX	Aberdeen Small Cap	Pair Corr

Related Correlations Analysis

	GEGAX	GWLIX	STK	CGFIX	GXXAX	GXXCX	GXXIX	GGLIX
GEGAX		0.55	0.35	0.03	0.17	0.17	0.17	0.17	GEGAX
GWLIX	0.55		-0.13	0.59	-0.25	-0.24	-0.25	-0.25	GWLIX
STK	0.35	-0.13		-0.44	0.89	0.88	0.89	0.89	STK
CGFIX	0.03	0.59	-0.44		-0.48	-0.47	-0.48	-0.48	CGFIX
GXXAX	0.17	-0.25	0.89	-0.48		1.0	1.0	1.0	GXXAX
GXXCX	0.17	-0.24	0.88	-0.47	1.0		1.0	1.0	GXXCX
GXXIX	0.17	-0.25	0.89	-0.48	1.0	1.0		1.0	GXXIX
GGLIX	0.17	-0.25	0.89	-0.48	1.0	1.0	1.0		GGLIX
	GEGAX	GWLIX	STK	CGFIX	GXXAX	GXXCX	GXXIX	GGLIX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

GXXCX	+ 1.0	GXXAX
GXXIX	+ 1.0	GXXAX
GGLIX	+ 1.0	GXXAX
GXXIX	+ 1.0	GXXCX
GGLIX	+ 1.0	GXXCX
GGLIX	+ 1.0	GXXIX

High negative correlations

GGLIX	- 0.48	CGFIX
GXXIX	- 0.48	CGFIX
GXXAX	- 0.48	CGFIX
GXXCX	- 0.47	CGFIX
CGFIX	- 0.44	STK
GGLIX	- 0.25	GWLIX

Risk-Adjusted Indicators

There is a big difference between Aberdeen Mutual Fund performing well and Aberdeen Gbl Mutual 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 Gbl'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
GEGAX	0.77	(0.07)	(0.14)	(0.02)	0.94	(0.85)	1.67	(1.76)	5.28
GWLIX	0.62	(0.15)	0.00	(0.14)	0.00	0.00	1.11	(1.37)	3.22
STK	0.72	(0.01)	(0.03)	0.11	0.90	(0.74)	1.61	(1.94)	4.18
CGFIX	0.15	0.00	(0.51)	0.24	0.16	(0.21)	0.23	(0.34)	0.93
GXXAX	0.58	(0.02)	(0.05)	0.11	0.71	(0.65)	1.18	(1.30)	3.80
GXXCX	0.58	(0.02)	(0.05)	0.11	0.70	(0.64)	1.08	(1.37)	3.73
GXXIX	0.58	(0.01)	(0.04)	0.11	0.70	(0.65)	1.12	(1.29)	3.81
GGLIX	0.58	(0.01)	(0.05)	0.11	0.70	(0.65)	1.11	(1.29)	3.77

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC