Aberdeen Tax-free Correlations

ABEIX Fund

USD 8.97 0.01 0.11%

The current 90-days correlation between Aberdeen Tax Free and Aberdeen Emerging Markets is 0.09 (i.e., Significant diversification). The correlation of Aberdeen Tax-free 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 Tax-free Correlation With Market

Very good diversification

The correlation between Aberdeen Tax Free Income and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aberdeen Tax Free Income 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 Tax Free Income. 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 gross domestic product.

Moving together with Aberdeen Mutual Fund

0.64	CGFIX	Aberdeen Global Fixed	Pair Corr
0.84	NTFAX	Aberdeen Tax Free	Pair Corr
0.67	AAHMX	Aberdeen Short Duration	Pair Corr
0.84	ABESX	Aberdeen Tax Free	Pair Corr
0.62	ACHMX	Abrdn Short Duration	Pair Corr
0.67	AGCIX	Aberdeen Global Unco	Pair Corr

Moving against Aberdeen Mutual Fund

0.32	MLSAX	Aberdeen Eq Long	Pair Corr
0.39	BJBIX	Aberdeen Select Inte	Pair Corr
0.32	GLSRX	Aberdeen Eq Long	Pair Corr
0.31	AELSX	Aberdeen Eq Lngshrt	Pair Corr

Related Correlations Analysis

	GEGAX	GEGCX	GEMRX	GWLIX	GWLRX	STK	CGFIX	GXXCX	GXXIX	GGLIX
GEGAX		0.94	0.94	0.47	0.43	0.52	0.03	0.27	0.27	0.27	GEGAX
GEGCX	0.94		1.0	0.37	0.45	0.5	-0.06	0.33	0.33	0.33	GEGCX
GEMRX	0.94	1.0		0.37	0.44	0.51	-0.07	0.34	0.34	0.34	GEMRX
GWLIX	0.47	0.37	0.37		0.9	0.0	0.55	-0.27	-0.28	-0.28	GWLIX
GWLRX	0.43	0.45	0.44	0.9		-0.04	0.49	-0.18	-0.2	-0.2	GWLRX
STK	0.52	0.5	0.51	0.0	-0.04		-0.42	0.78	0.78	0.79	STK
CGFIX	0.03	-0.06	-0.07	0.55	0.49	-0.42		-0.43	-0.44	-0.44	CGFIX
GXXCX	0.27	0.33	0.34	-0.27	-0.18	0.78	-0.43		1.0	1.0	GXXCX
GXXIX	0.27	0.33	0.34	-0.28	-0.2	0.78	-0.44	1.0		1.0	GXXIX
GGLIX	0.27	0.33	0.34	-0.28	-0.2	0.79	-0.44	1.0	1.0		GGLIX
	GEGAX	GEGCX	GEMRX	GWLIX	GWLRX	STK	CGFIX	GXXCX	GXXIX	GGLIX

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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

GEMRX	+ 1.0	GEGCX
GXXIX	+ 1.0	GXXCX
GGLIX	+ 1.0	GXXCX
GGLIX	+ 1.0	GXXIX
GEGCX	+ 0.94	GEGAX
GEMRX	+ 0.94	GEGAX

High negative correlations

GGLIX	- 0.44	CGFIX
GXXIX	- 0.44	CGFIX
GXXCX	- 0.43	CGFIX
CGFIX	- 0.42	STK
GGLIX	- 0.28	GWLIX
GXXIX	- 0.28	GWLIX

Risk-Adjusted Indicators

There is a big difference between Aberdeen Mutual Fund performing well and Aberdeen Tax-free 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 Tax-free'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	0.80	(0.05)	(0.12)	0.01	0.96	(0.86)	1.67	(1.76)	5.28
GEGCX	0.81	(0.01)	0.00	0.20	0.00	0.00	1.69	(1.78)	5.22
GEMRX	0.80	(0.01)	0.00	0.18	0.00	0.00	1.71	(1.72)	5.33
GWLIX	0.62	(0.12)	0.00	(0.10)	0.00	0.00	1.12	(1.37)	3.85
GWLRX	0.64	(0.10)	0.00	(2.56)	0.00	0.00	1.14	(1.49)	3.90
STK	0.72	(0.03)	(0.05)	0.08	0.97	(0.71)	1.61	(1.94)	4.18
CGFIX	0.14	(0.02)	0.00	0.66	0.00	0.00	0.23	(0.34)	0.81
GXXCX	0.58	0.05	(0.09)	10.07	0.73	(0.64)	1.08	(1.37)	3.73
GXXIX	0.59	0.05	(0.08)	2.98	0.72	(0.65)	1.12	(1.29)	3.81
GGLIX	0.58	0.05	(0.09)	2.97	0.72	(0.65)	1.11	(1.29)	3.77

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