Aberdeen Correlations

MLSAX Fund

USD 7.86 0.00 0.00%

The current 90-days correlation between Aberdeen Eq Long and Baron Health Care is 0.09 (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

Average diversification

The correlation between Aberdeen Eq Long Short and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aberdeen Eq Long Short and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios. 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 nation.

Moving together with Aberdeen Mutual Fund

0.68	STK	Columbia Seligman Premium	Pair Corr
0.68	GXXAX	Aberdeen Equity A	Pair Corr
0.7	GXXCX	Aberdeen Multi Cap	Pair Corr
0.71	GXXIX	Aberdeen Equity Instl	Pair Corr
0.7	GGLIX	Aberdeen Multi Cap	Pair Corr
0.72	GGUIX	Aberdeen Eq Long	Pair Corr
1.0	GLSRX	Aberdeen Eq Long	Pair Corr
1.0	AELSX	Aberdeen Eq Lngshrt	Pair Corr
0.75	BJBIX	Aberdeen Select Inte	Pair Corr
0.73	GNSRX	Aberdeen Small Cap	Pair Corr

Moving against Aberdeen Mutual Fund

0.57	CGFIX	Aberdeen Global Fixed	Pair Corr
0.36	NTFAX	Aberdeen Tax Free	Pair Corr
0.34	ABNIX	Aberdeen Global Small	Pair Corr
0.32	ABEIX	Aberdeen Tax Free	Pair Corr
0.51	AGCIX	Aberdeen Global Unco	Pair Corr
0.36	CPVCX	Aberdeen Gbl Small	Pair Corr

Related Correlations Analysis

	BHCHX	RAGHX	PHLAX	LYFAX	HIAHX	HHCZX	GGHYX
BHCHX		0.89	0.89	0.63	0.87	-0.51	0.88	BHCHX
RAGHX	0.89		0.89	0.66	0.98	-0.73	0.98	RAGHX
PHLAX	0.89	0.89		0.79	0.92	-0.67	0.91	PHLAX
LYFAX	0.63	0.66	0.79		0.66	-0.34	0.68	LYFAX
HIAHX	0.87	0.98	0.92	0.66		-0.76	0.99	HIAHX
HHCZX	-0.51	-0.73	-0.67	-0.34	-0.76		-0.75	HHCZX
GGHYX	0.88	0.98	0.91	0.68	0.99	-0.75		GGHYX
	BHCHX	RAGHX	PHLAX	LYFAX	HIAHX	HHCZX	GGHYX

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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

GGHYX	+ 0.99	HIAHX
HIAHX	+ 0.98	RAGHX
GGHYX	+ 0.98	RAGHX
HIAHX	+ 0.92	PHLAX
GGHYX	+ 0.91	PHLAX
RAGHX	+ 0.89	BHCHX

High negative correlations

HHCZX	- 0.76	HIAHX
GGHYX	- 0.75	HHCZX
HHCZX	- 0.73	RAGHX
HHCZX	- 0.67	PHLAX
HHCZX	- 0.51	BHCHX
HHCZX	- 0.34	LYFAX

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
BHCHX	0.65	(0.15)	0.00	(0.10)	0.00	0.00	1.27	(1.32)	4.20
RAGHX	0.61	(0.14)	0.00	(0.70)	0.00	0.00	0.92	(1.37)	3.33
PHLAX	0.63	(0.18)	0.00	(0.17)	0.00	0.00	0.95	(1.38)	5.07
LYFAX	0.66	(0.07)	0.00	(1.07)	0.00	0.00	1.22	(1.65)	3.82
HIAHX	0.60	(0.18)	0.00	(1.16)	0.00	0.00	0.76	(1.34)	3.83
HHCZX	0.16	0.02	(0.44)	15.04	0.03	(0.20)	0.37	(0.31)	1.14
GGHYX	0.62	(0.14)	0.00	(0.72)	0.00	0.00	0.89	(1.30)	3.73

Aberdeen Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Aberdeen mutual fund to make a market-neutral strategy. Peer analysis of Aberdeen could also be used in its relative valuation, which is a method of valuing Aberdeen by comparing valuation metrics with similar companies.

Baron Health Care Allianzgi Health Sciences Prudential Health Sciences Alphacentric Lifesci Healthcare Hartford Healthcare Hls Highland Longshort Healthcare Invesco Global Health American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp

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