Aberdeen Income Correlations

ACP Fund

USD 5.70 0.03 0.53%

The current 90-days correlation between Aberdeen Income Credit and Cbre Clarion Global is 0.31 (i.e., 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

Very poor diversification

The correlation between Aberdeen Income Credit and DJI is 0.88 (i.e., Very poor 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 services.

Moving together with Aberdeen Fund

0.9	ETV	Eaton Vance Tax	Pair Corr
0.61	DNP	Dnp Select Income	Pair Corr
0.79	ETJ	Eaton Vance Risk	Pair Corr
0.74	GAB	Gabelli Equity Trust	Pair Corr
0.81	ADX	Adams Diversified Equity	Pair Corr
0.71	GUT	Gabelli Utility Closed	Pair Corr
0.92	RIV	Rivernorth Opportunities	Pair Corr
0.96	FHREX	Fidelity Freedom Blend	Pair Corr
0.97	GEMYX	Emerging Markets Equity	Pair Corr
0.67	PFRZX	Putnam Floating Rate	Pair Corr
0.8	VSGAX	Vanguard Small Cap	Pair Corr
0.94	APHWX	Artisan Value Income	Pair Corr
0.7	IOGPX	Vy Oppenheimer Global	Pair Corr
0.79	GOIAX	Goldman Sachs Growth	Pair Corr
0.97	FMFEX	Materials Portfolio	Pair Corr
0.62	ILABX	Voya Bond Index	Pair Corr
0.97	TIHIX	Transamerica International	Pair Corr
0.86	VSTCX	Vanguard Strategic	Pair Corr
0.78	QCBMIX	Cref Bond Market	Pair Corr
0.9	NAPIX	Voya Multi Manager	Pair Corr
0.91	AVDVX	Avantis International	Pair Corr
0.87	SBTIX	Salient Tactical Plus	Pair Corr
0.94	TRRLX	T Rowe Price	Pair Corr
0.63	FBMPX	Multimedia Portfolio	Pair Corr
0.93	FTCCX	Franklin Conservative	Pair Corr
0.85	APITX	Api Growth Fund	Pair Corr
0.8	GARIX	Gotham Absolute Return	Pair Corr
0.98	HGXSX	Hartford Global Impact	Pair Corr
0.72	BRIUX	Baron Real Estate	Pair Corr
0.94	IISTX	Voya Index Solution	Pair Corr
0.92	IRSNX	Voya Target Retirement	Pair Corr
0.89	PACYX	Putnam Dynamic Asset	Pair Corr
0.94	DRILX	Dimensional 2060 Target	Pair Corr
0.91	QCSCPX	Cref Social Choice	Pair Corr
0.73	VFINX	Vanguard 500 Index	Pair Corr

Related Correlations Analysis

	JQC	PAXS	IGR	NIE	STK	NKX	WDI	DLY	LDP	NOSGX
JQC		0.83	0.66	0.9	0.9	0.56	-0.1	0.9	0.7	0.78	JQC
PAXS	0.83		0.8	0.68	0.81	0.79	0.21	0.78	0.67	0.45	PAXS
IGR	0.66	0.8		0.55	0.65	0.86	0.23	0.73	0.55	0.46	IGR
NIE	0.9	0.68	0.55		0.94	0.46	-0.15	0.89	0.74	0.85	NIE
STK	0.9	0.81	0.65	0.94		0.62	0.07	0.92	0.79	0.75	STK
NKX	0.56	0.79	0.86	0.46	0.62		0.41	0.68	0.55	0.34	NKX
WDI	-0.1	0.21	0.23	-0.15	0.07	0.41		0.07	0.17	-0.3	WDI
DLY	0.9	0.78	0.73	0.89	0.92	0.68	0.07		0.81	0.81	DLY
LDP	0.7	0.67	0.55	0.74	0.79	0.55	0.17	0.81		0.49	LDP
NOSGX	0.78	0.45	0.46	0.85	0.75	0.34	-0.3	0.81	0.49		NOSGX
	JQC	PAXS	IGR	NIE	STK	NKX	WDI	DLY	LDP	NOSGX

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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

STK	+ 0.94	NIE
DLY	+ 0.92	STK
NIE	+ 0.9	JQC
STK	+ 0.9	JQC
DLY	+ 0.9	JQC
DLY	+ 0.89	NIE

High negative correlations

NOSGX	- 0.3	WDI
WDI	- 0.15	NIE
WDI	- 0.1	JQC

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
JQC	0.47	0.04	(0.02)	0.41	0.41	(0.61)	1.01	(0.79)	2.26
PAXS	0.44	0.02	(0.04)	0.17	0.47	(0.52)	1.09	(0.79)	2.59
IGR	0.98	0.09	0.05	0.21	1.04	(1.08)	1.92	(1.74)	4.01
NIE	0.53	(0.01)	(0.06)	0.04	0.59	(0.59)	1.35	(1.06)	2.57
STK	1.23	0.03	0.02	0.09	1.49	(1.26)	2.92	(2.74)	7.38
NKX	0.34	0.03	(0.04)	0.25	0.56	(0.34)	0.62	(0.79)	3.63
WDI	0.40	0.02	(0.04)	0.13	0.59	(0.40)	0.96	(0.93)	2.95
DLY	0.30	0.03	(0.05)	0.18	0.23	(0.34)	0.62	(0.61)	1.40
LDP	0.32	(0.02)	(0.15)	(0.01)	0.39	(0.35)	0.66	(0.73)	2.21
NOSGX	2.31	1.16	1.27	1.07	0.00	(3.16)	2.63	(1.53)	71.02

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