Aberdeen Income Correlations

ACP Fund

USD 5.41 0.06 1.12%

The current 90-days correlation between Aberdeen Income Credit and Cbre Clarion Global is 0.39 (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 weak diversification

The correlation between Aberdeen Income Credit and DJI is 0.4 (i.e., Very weak 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 manufacturing.

Moving against Aberdeen Fund

0.59	KTXIX	Kansas Tax	Pair Corr
0.57	UTACX	Aquila Tax Free	Pair Corr
0.5	CFSTX	Short Term	Pair Corr
0.48	DNP	Dnp Select Income	Pair Corr
0.39	ADX	Adams Diversified Equity	Pair Corr
0.37	AGVSX	Invesco Government	Pair Corr
0.35	TCPAX	Touchstone Total Return	Pair Corr
0.68	USCBX	California Bond	Pair Corr
0.59	UTAYX	Aquila Tax Free	Pair Corr
0.39	HSNYX	The Hartford Strategic	Pair Corr

Related Correlations Analysis

	JQC	PAXS	IGR	NIE	STK	NKX	WDI	DLY	LDP	NOSGX
JQC		0.6	0.11	0.35	0.14	-0.23	0.37	0.76	0.42	0.15	JQC
PAXS	0.6		0.43	0.0	-0.08	-0.13	0.72	0.55	0.3	-0.39	PAXS
IGR	0.11	0.43		-0.18	-0.34	-0.14	0.62	0.42	0.16	-0.54	IGR
NIE	0.35	0.0	-0.18		0.81	-0.09	-0.12	0.34	0.62	0.49	NIE
STK	0.14	-0.08	-0.34	0.81		0.38	-0.25	0.06	0.62	0.27	STK
NKX	-0.23	-0.13	-0.14	-0.09	0.38		-0.26	-0.43	0.19	-0.3	NKX
WDI	0.37	0.72	0.62	-0.12	-0.25	-0.26		0.49	0.08	-0.54	WDI
DLY	0.76	0.55	0.42	0.34	0.06	-0.43	0.49		0.53	0.05	DLY
LDP	0.42	0.3	0.16	0.62	0.62	0.19	0.08	0.53		-0.11	LDP
NOSGX	0.15	-0.39	-0.54	0.49	0.27	-0.3	-0.54	0.05	-0.11		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	+ 0.81	NIE
DLY	+ 0.76	JQC
WDI	+ 0.72	PAXS
WDI	+ 0.62	IGR
LDP	+ 0.62	NIE
LDP	+ 0.62	STK

High negative correlations

NOSGX	- 0.54	WDI
NOSGX	- 0.54	IGR
DLY	- 0.43	NKX
NOSGX	- 0.39	PAXS
STK	- 0.34	IGR
NOSGX	- 0.3	NKX

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	0.52	(0.05)	0.00	(0.08)	0.00	0.00	1.20	(1.20)	3.25
PAXS	0.56	(0.07)	0.00	(0.28)	0.00	0.00	0.98	(1.19)	4.50
IGR	0.89	(0.22)	0.00	(0.29)	0.00	0.00	1.48	(1.86)	3.89
NIE	0.55	0.01	(0.02)	0.06	0.63	(0.59)	1.11	(1.21)	2.79
STK	1.15	0.07	0.05	0.11	1.44	(1.17)	2.92	(2.74)	7.32
NKX	0.29	(0.01)	(0.11)	(0.06)	0.50	(0.27)	0.55	(0.72)	2.71
WDI	0.45	(0.07)	0.00	(0.21)	0.00	0.00	0.72	(1.17)	2.95
DLY	0.33	(0.04)	0.00	(0.07)	0.00	0.00	0.56	(0.62)	1.97
LDP	0.37	(0.03)	(0.11)	(0.01)	0.52	(0.37)	0.81	(0.72)	2.90
NOSGX	2.29	1.02	1.03	0.83	0.00	(3.33)	2.25	(1.54)	70.08

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