Aberdeen Income Correlations

ACP Fund

USD 5.57 0.02 0.36%

The current 90-days correlation between Aberdeen Income Credit and Cbre Clarion Global is 0.32 (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

Poor diversification

The correlation between Aberdeen Income Credit and DJI is 0.77 (i.e., 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 unemployment.

Moving together with Aberdeen Fund

0.72	EDD	Morgan Stanley Emerging	Pair Corr
0.69	FIJDX	Gold Portfolio Fidelity Steady Growth	Pair Corr
0.64	MLOIX	Cohen Steers Mlp	Pair Corr
0.89	TEMRX	Tiaa Cref Emerging	Pair Corr
0.82	BUFOX	Buffalo Emerging Opp	Pair Corr
0.8	DFIEX	International E Equity	Pair Corr
0.84	JAASX	Alternative Asset	Pair Corr
0.7	GCIRX	Goldman Sachs Intern	Pair Corr
0.79	VSCNX	Vaughan Nelson Small	Pair Corr
0.77	TEQIX	Franklin Mutual Quest	Pair Corr
0.69	SVFKX	Smead Value Fund	Pair Corr
0.64	AMEIX	Equity Growth	Pair Corr
0.79	TPILX	Tiaa Cref Lifecycle	Pair Corr
0.76	VNYUX	Vanguard New York	Pair Corr
0.85	MGXCX	Mainstay Growth Allo	Pair Corr
0.72	MSFRX	Mfs Total Return	Pair Corr
0.82	TRRNX	T Rowe Price	Pair Corr
0.77	PAGYX	Putnam Dynamic Asset	Pair Corr
0.85	GWPAX	American Funds Growth	Pair Corr
0.74	JAAGX	Enterprise Portfolio	Pair Corr
0.77	GABBX	Gabelli Dividend	Pair Corr
0.82	JULGX	Multimanager Lifestyle	Pair Corr
0.88	FFTWX	Fidelity Freedom 2025	Pair Corr
0.62	DHPIX	Diamond Hill Mid	Pair Corr
0.77	HMJIX	Hartford Municipal Short	Pair Corr
0.79	PRDSX	T Rowe Price	Pair Corr
0.75	ROBNX	Robinson Tax Advantaged	Pair Corr
0.72	ARTSX	Artisan Small Cap	Pair Corr
0.72	RLGYX	Global Equity	Pair Corr

Related Correlations Analysis

	JQC	PAXS	IGR	NIE	STK	NKX	WDI	DLY	LDP	NOSGX
JQC		0.73	0.2	0.88	0.85	0.42	-0.41	0.9	0.51	0.75	JQC
PAXS	0.73		0.31	0.56	0.68	0.7	-0.04	0.6	0.49	0.27	PAXS
IGR	0.2	0.31		0.21	0.22	0.46	0.11	0.31	0.31	-0.09	IGR
NIE	0.88	0.56	0.21		0.93	0.3	-0.38	0.9	0.64	0.77	NIE
STK	0.85	0.68	0.22	0.93		0.45	-0.23	0.87	0.71	0.61	STK
NKX	0.42	0.7	0.46	0.3	0.45		0.04	0.38	0.31	0.06	NKX
WDI	-0.41	-0.04	0.11	-0.38	-0.23	0.04		-0.42	-0.04	-0.7	WDI
DLY	0.9	0.6	0.31	0.9	0.87	0.38	-0.42		0.63	0.71	DLY
LDP	0.51	0.49	0.31	0.64	0.71	0.31	-0.04	0.63		0.14	LDP
NOSGX	0.75	0.27	-0.09	0.77	0.61	0.06	-0.7	0.71	0.14		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	+ 0.93	NIE
DLY	+ 0.9	JQC
DLY	+ 0.9	NIE
NIE	+ 0.88	JQC
DLY	+ 0.87	STK
STK	+ 0.85	JQC

High negative correlations

NOSGX	- 0.7	WDI
DLY	- 0.42	WDI
WDI	- 0.41	JQC
WDI	- 0.38	NIE
WDI	- 0.23	STK
NOSGX	- 0.09	IGR

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	0.46	0.07	0.04	0.42	0.28	(0.62)	1.01	(0.61)	3.09
PAXS	0.51	0.09	0.06	0.38	0.42	(0.59)	1.15	(0.78)	3.72
IGR	0.94	(0.08)	0.00	(0.07)	0.00	0.00	1.61	(1.85)	3.92
NIE	0.53	0.02	0.00	0.10	0.57	(0.57)	1.11	(1.06)	2.52
STK	1.13	0.09	0.06	0.15	1.43	(1.11)	2.24	(2.28)	7.32
NKX	0.33	0.01	(0.06)	0.13	0.56	(0.33)	0.56	(0.78)	3.53
WDI	0.41	(0.04)	0.00	(0.07)	0.00	0.00	0.72	(0.93)	2.95
DLY	0.32	0.02	(0.08)	0.16	0.29	(0.36)	0.62	(0.61)	1.40
LDP	0.34	(0.01)	(0.12)	0.04	0.41	(0.36)	0.82	(0.68)	2.92
NOSGX	2.27	1.09	1.32	1.02	0.00	(3.26)	2.50	(1.24)	70.22

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