Aberdeen Correlations

GXXIX Fund

USD 13.92 0.08 0.58%

The current 90-days correlation between Aberdeen Equity Instl and T Rowe Price is 0.02 (i.e., Significant diversification). The correlation of Aberdeen 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 Correlation With Market

Poor diversification

The correlation between Aberdeen Equity Instl and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aberdeen Equity Instl 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 Equity Instl. 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 gross domestic product.

Moving together with Aberdeen Mutual Fund

0.78	CGFIX	Aberdeen Global Fixed	Pair Corr
1.0	GXXAX	Aberdeen Equity A	Pair Corr
0.99	GXXCX	Aberdeen Multi Cap	Pair Corr
1.0	GGLIX	Aberdeen Multi Cap	Pair Corr
0.83	GGUIX	Aberdeen Eq Long Steady Growth	Pair Corr
0.64	NTFAX	Aberdeen Tax Free	Pair Corr
0.68	AAHMX	Aberdeen Short Duration	Pair Corr
0.67	ABESX	Aberdeen Tax Free	Pair Corr
0.67	ABEIX	Aberdeen Tax Free	Pair Corr
0.62	ABNIX	Aberdeen Global Small	Pair Corr
0.62	ACHMX	Abrdn Short Duration	Pair Corr
0.82	BJBHX	Aberdeen Global High	Pair Corr
0.83	JHYIX	Aberdeen Global High	Pair Corr
0.84	GNSRX	Aberdeen Small Cap Steady Growth	Pair Corr
0.78	AGCIX	Aberdeen Global Unco	Pair Corr

Related Correlations Analysis

	PACEX	CDHIX	GIMSX	JDJRX	SPMIX	FEMDX	ARTYX
PACEX		0.49	0.8	-0.14	0.23	0.59	0.7	PACEX
CDHIX	0.49		0.4	-0.17	0.48	0.01	0.3	CDHIX
GIMSX	0.8	0.4		0.35	-0.22	0.61	0.52	GIMSX
JDJRX	-0.14	-0.17	0.35		-0.72	0.36	-0.09	JDJRX
SPMIX	0.23	0.48	-0.22	-0.72		-0.07	0.25	SPMIX
FEMDX	0.59	0.01	0.61	0.36	-0.07		0.68	FEMDX
ARTYX	0.7	0.3	0.52	-0.09	0.25	0.68		ARTYX
	PACEX	CDHIX	GIMSX	JDJRX	SPMIX	FEMDX	ARTYX

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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

GIMSX	+ 0.8	PACEX
ARTYX	+ 0.7	PACEX
ARTYX	+ 0.68	FEMDX
FEMDX	+ 0.61	GIMSX
FEMDX	+ 0.59	PACEX
ARTYX	+ 0.52	GIMSX

High negative correlations

SPMIX	- 0.72	JDJRX
SPMIX	- 0.22	GIMSX
JDJRX	- 0.17	CDHIX
JDJRX	- 0.14	PACEX
ARTYX	- 0.09	JDJRX
FEMDX	- 0.07	SPMIX

Risk-Adjusted Indicators

There is a big difference between Aberdeen Mutual Fund performing well and Aberdeen 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'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
PACEX	0.13	(0.01)	0.00	(0.71)	0.00	0.00	0.33	(0.33)	0.98
CDHIX	0.58	(0.09)	0.00	(0.34)	0.00	0.00	1.15	(1.35)	3.77
GIMSX	0.13	(0.01)	0.00	(0.25)	0.00	0.00	0.51	(0.25)	1.52
JDJRX	0.40	0.04	0.04	1.64	0.39	(0.47)	0.88	(0.77)	2.00
SPMIX	0.84	(0.11)	0.00	(0.19)	0.00	0.00	1.45	(1.29)	12.47
FEMDX	0.17	0.01	(0.05)	0.26	0.13	(0.22)	0.35	(0.35)	1.29
ARTYX	0.78	(0.04)	0.00	(0.17)	0.00	0.00	1.37	(1.63)	4.86

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