Aberdeen Standard Correlations

ASGI Fund

USD 19.65 0.09 0.46%

The current 90-days correlation between Aberdeen Standard Global and Blackrock Muniyield Quality is 0.12 (i.e., Average diversification). The correlation of Aberdeen Standard 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.

Aberdeen Standard Correlation With Market

Significant diversification

The correlation between Aberdeen Standard Global and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aberdeen Standard Global 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 Standard Global. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Aberdeen Fund

0.66	D	Dominion Energy	Pair Corr
0.8	SO	Southern	Pair Corr
0.78	CMS-PB	Consumers Energy	Pair Corr
0.72	CMS-PC	CMS Energy	Pair Corr
0.82	BEP	Brookfield Renewable	Pair Corr

Moving against Aberdeen Fund

0.58	VVPR	VivoPower International Tech Boost	Pair Corr
0.58	HE	Hawaiian Electric	Pair Corr
0.42	SVIIR	Spring Valley Acquisition	Pair Corr
0.42	ADN	Advent Technologies	Pair Corr
0.33	CIG	Companhia Energetica	Pair Corr

Related Correlations Analysis

	MQY	PAXS	NMCO	WDI	EVF	EFT	FRA	CPZ	DTF	FTHY
MQY		0.61	0.84	0.9	-0.45	-0.73	-0.32	0.02	0.06	0.54	MQY
PAXS	0.61		0.4	0.56	0.18	-0.04	0.29	0.53	0.36	0.74	PAXS
NMCO	0.84	0.4		0.67	-0.58	-0.76	-0.6	-0.34	0.12	0.2	NMCO
WDI	0.9	0.56	0.67		-0.37	-0.65	-0.2	0.18	-0.04	0.55	WDI
EVF	-0.45	0.18	-0.58	-0.37		0.89	0.88	0.68	0.53	0.23	EVF
EFT	-0.73	-0.04	-0.76	-0.65	0.89		0.79	0.51	0.38	-0.04	EFT
FRA	-0.32	0.29	-0.6	-0.2	0.88	0.79		0.85	0.48	0.29	FRA
CPZ	0.02	0.53	-0.34	0.18	0.68	0.51	0.85		0.38	0.53	CPZ
DTF	0.06	0.36	0.12	-0.04	0.53	0.38	0.48	0.38		0.18	DTF
FTHY	0.54	0.74	0.2	0.55	0.23	-0.04	0.29	0.53	0.18		FTHY
	MQY	PAXS	NMCO	WDI	EVF	EFT	FRA	CPZ	DTF	FTHY

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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

WDI	+ 0.9	MQY
EFT	+ 0.89	EVF
FRA	+ 0.88	EVF
CPZ	+ 0.85	FRA
NMCO	+ 0.84	MQY
FRA	+ 0.79	EFT

High negative correlations

EFT	- 0.76	NMCO
EFT	- 0.73	MQY
EFT	- 0.65	WDI
FRA	- 0.6	NMCO
EVF	- 0.58	NMCO
EVF	- 0.45	MQY

Risk-Adjusted Indicators

There is a big difference between Aberdeen Fund performing well and Aberdeen Standard 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 Standard'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
MQY	0.40	(0.01)	0.00	0.95	0.00	0.00	0.81	(1.07)	2.74
PAXS	0.71	0.10	0.01	0.41	0.81	(0.72)	1.71	(1.70)	4.49
NMCO	0.52	(0.03)	0.00	4.99	0.00	0.00	1.04	(1.35)	3.99
WDI	0.43	(0.01)	(0.17)	0.01	0.64	(0.44)	0.83	(0.92)	2.86
EVF	0.31	0.03	(0.20)	0.51	0.30	(0.37)	0.66	(0.65)	2.24
EFT	0.35	0.04	(0.17)	0.62	0.27	(0.43)	0.77	(0.68)	1.61
FRA	0.45	0.13	0.04	0.95	0.26	(0.52)	1.08	(0.85)	2.42
CPZ	0.50	0.01	(0.10)	0.16	0.57	(0.57)	1.13	(1.10)	3.44
DTF	0.22	0.01	(0.37)	(0.10)	0.23	(0.27)	0.54	(0.36)	1.96
FTHY	0.39	0.02	(0.14)	0.19	0.37	(0.48)	0.83	(0.75)	2.59

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