Aberdeen Income Correlations

ACP Fund

USD 6.09 0.01 0.16%

The current 90-days correlation between Aberdeen Income Credit and Allianzgi Convertible Income is 0.2 (i.e., Modest 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

Average diversification

The correlation between Aberdeen Income Credit and DJI is 0.18 (i.e., Average 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

0.66

PDI

Pimco Dynamic Income

Pair Corr

Moving against Aberdeen Fund

0.78	PYARX	Payden Absolute Return	Pair Corr
0.77	PYAIX	Payden Absolute Return	Pair Corr
0.75	ESDIX	Ashmore Emerging Markets	Pair Corr
0.72	DBFRX	Doubleline Floating Rate	Pair Corr
0.7	AHLPX	American Beacon Ahl	Pair Corr
0.68	ATOIX	Alpine Ultra Short	Pair Corr
0.67	TSDIX	Touchstone Ultra Short	Pair Corr
0.67	FSAWX	Fidelity Sai Convertible	Pair Corr
0.66	LRRVX	Floating Rate	Pair Corr
0.59	FTCAX	Templeton Strained Bond	Pair Corr
0.56	ADNPX	Amer Beacon Ark	Pair Corr
0.55	VIGAX	Vanguard Growth Index	Pair Corr
0.51	ADNAX	American Beacon Ark	Pair Corr
0.5	MSEGX	Growth Portfolio Class	Pair Corr
0.46	AIO	Virtus Allianzgi Art	Pair Corr
0.45	WWACX	Westwood Alternative	Pair Corr
0.44	UIPIX	Ultrashort Mid Cap	Pair Corr
0.44	AAIZX	Alger Ai Enablers	Pair Corr
0.39	MWCBX	Metropolitan West Porate	Pair Corr
0.78	AQMIX	Aqr Managed Futures	Pair Corr
0.77	DLINX	Doubleline Flexible	Pair Corr
0.72	SFHIX	Shenkman Floating Rate	Pair Corr
0.71	EMPIX	Ambassador Fund	Pair Corr
0.68	CMNIX	Calamos Market Neutral	Pair Corr
0.68	RSFYX	Victory Floating Rate	Pair Corr
0.66	LGRAX	Lord Abbett Investment	Pair Corr
0.66	AMFIX	Aama Income Fund	Pair Corr
0.66	JPHRX	Jpmorgan Floating Rate	Pair Corr
0.63	RPIEX	T Rowe Price	Pair Corr

Related Correlations Analysis

	NCV	SPE	OPP	GLV	RIV	PCF	CRF	GLO	ECC
NCV		0.67	-0.1	-0.08	0.25	0.44	0.74	0.34	-0.33	NCV
SPE	0.67		-0.31	-0.24	0.11	0.42	0.75	0.04	-0.3	SPE
OPP	-0.1	-0.31		0.53	0.45	0.29	-0.36	0.63	0.7	OPP
GLV	-0.08	-0.24	0.53		0.81	0.62	-0.23	0.68	0.7	GLV
RIV	0.25	0.11	0.45	0.81		0.79	0.06	0.71	0.57	RIV
PCF	0.44	0.42	0.29	0.62	0.79		0.39	0.6	0.4	PCF
CRF	0.74	0.75	-0.36	-0.23	0.06	0.39		0.08	-0.27	CRF
GLO	0.34	0.04	0.63	0.68	0.71	0.6	0.08		0.57	GLO
ECC	-0.33	-0.3	0.7	0.7	0.57	0.4	-0.27	0.57		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

RIV	+ 0.81	GLV
PCF	+ 0.79	RIV
CRF	+ 0.75	SPE
CRF	+ 0.74	NCV
GLO	+ 0.71	RIV
ECC	+ 0.7	OPP

High negative correlations

CRF	- 0.36	OPP
ECC	- 0.33	NCV
OPP	- 0.31	SPE
ECC	- 0.3	SPE
ECC	- 0.27	CRF
GLV	- 0.24	SPE

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	0.89	0.05	0.04	0.16	0.89	(1.16)	1.75	(1.70)	5.21
SPE	0.71	0.11	0.10	0.43	0.81	(0.77)	1.49	(1.42)	4.78
OPP	0.51	(0.06)	0.00	(0.41)	0.00	0.00	0.84	(0.93)	2.85
GLV	0.68	(0.07)	0.00	(0.17)	0.00	0.00	1.49	(1.73)	5.42
RIV	0.61	(0.03)	0.00	(0.09)	0.00	0.00	1.71	(1.26)	3.99
PCF	0.52	0.00	(0.03)	0.01	0.58	(0.65)	1.24	(1.05)	2.88
CRF	1.04	0.11	0.04	0.27	2.04	(1.01)	2.04	(2.28)	10.79
GLO	0.57	(0.03)	0.00	(0.12)	0.00	0.00	1.36	(1.32)	3.51
ECC	0.63	(0.07)	0.00	(0.33)	0.00	0.00	1.98	(1.45)	3.51

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