Aberdeen China Correlations

Mutual Funds USA . 
Fund . Aberdeen China Oppty
GOPCX Fund  USD 19.85  0.26  1.33%   
The current 90-days correlation between Aberdeen China Oppty and Virtus Convertible is 0.08 (i.e., Significant diversification). The correlation of Aberdeen China 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 China Correlation With Market

Significant diversification

The correlation between Aberdeen China Oppty 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 China Oppty and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Aberdeen China Oppty. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Aberdeen Mutual Fund

  0.8GEGAX Aberdeen Emerging MarketsPairCorr
  0.81GEGCX Aberdeen Emerging MarketsPairCorr
  0.8GEMRX Aberdeen Emerging MarketsPairCorr
  0.65GWLIX Aberdeen Gbl EqPairCorr
  0.66GWLRX Aberdeen Gbl EqPairCorr
  0.71ASEMX Abrdn Em SmaPairCorr
  0.8ABEMX Aberdeen Emerging MarktsPairCorr
  0.72JETAX Aberdeen Select IntePairCorr
  0.72JETIX Aberdeen Select IntePairCorr
  0.65GLLAX Aberdeen Gbl EqPairCorr
  0.66GLLCX Aberdeen Gbl EqPairCorr
  0.65GLLSX Aberdeen Global EqutyPairCorr
  0.8AEMSX Aberden Emerng MrktsPairCorr
  0.78JIEIX Aberdeen Select IntePairCorr
  1.0GOPRX Aberdeen China OpptyPairCorr
  1.0GOPSX Aberdeen China OpptyPairCorr
  1.0GOPAX Aberdeen China OpptyPairCorr

Moving against Aberdeen Mutual Fund

  0.76ATOAX Alpine Ultra ShortPairCorr
  0.76ATOBX Aberdeen Ultra ShortPairCorr
  0.76ATOIX Alpine Ultra ShortPairCorr
  0.69STK Columbia Seligman PremiumPairCorr
  0.31GGUIX Aberdeen Eq Long Steady GrowthPairCorr
  0.46JHYIX Aberdeen Global HighPairCorr
  0.42BJBHX Aberdeen Global HighPairCorr
  0.31GSXAX Aberdeen Small Cap Steady GrowthPairCorr

Related Correlations Analysis

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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   
XNCVX
+ 0.96
VAADX
GCV
+ 0.95
VAADX
XNCVX
+ 0.87
GCV
XNCVX
+ 0.85
PBXIX
PBXIX
+ 0.74
ARBOX
PBXIX
+ 0.7
VAADX
  
High negative correlations   
CCD
- 0.56
ARBOX
XNCVX
- 0.41
CCD
CCD
- 0.39
PBXIX
CCD
- 0.35
VAADX
CCD
- 0.26
GCV

Risk-Adjusted Indicators

There is a big difference between Aberdeen Mutual Fund performing well and Aberdeen China Mutual 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 China'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.

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