Aberdeen Income Correlations

ACP Fund

USD 5.94 0.02 0.34%

The current 90-days correlation between Aberdeen Income Credit and Horizon Technology Finance is 0.08 (i.e., Significant 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 0.54 (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 main economic indicators.

Moving together with Aberdeen Fund

0.66	RYMEX	Commodities Strategy	Pair Corr
0.65	RYMJX	Commodities Strategy	Pair Corr
0.66	RYMBX	Commodities Strategy	Pair Corr
0.87	BRUFX	Bruce Fund Bruce	Pair Corr
0.99	SPGSX	State Street Premier	Pair Corr
0.89	KF	Korea Closed	Pair Corr
0.96	DHMYX	Diamond Hill Small	Pair Corr
0.98	TEMVX	Tiaa Cref Emerging	Pair Corr
0.83	SIGAX	Western Asset Porate	Pair Corr
0.99	HGOTX	Hartford Growth Oppo	Pair Corr
0.98	GCSSX	Goldman Sachs Small	Pair Corr
0.85	DLEUX	Doubleline Shiller	Pair Corr
0.97	VIVAX	Vanguard Value Index	Pair Corr
0.99	STPAX	Technology Munications	Pair Corr
0.96	MIOIX	Morgan Stanley Insti	Pair Corr
0.99	RBOTX	American Funds 2065	Pair Corr
0.98	TILCX	T Rowe Price	Pair Corr
0.99	LPREX	Blackrock Lifepath	Pair Corr
0.95	PRMDX	Maryland Short Term	Pair Corr
0.84	TFSLX	Touchstone Flexible	Pair Corr
0.86	FESIX	Fidelity Sai Real	Pair Corr
0.97	JSOCX	Jpmorgan Strategic Income	Pair Corr
0.76	BIMIX	Baird Intermediate Bond	Pair Corr
0.96	GCIIX	Goldman Sachs Intern	Pair Corr
0.98	JGMRX	Janus Triton	Pair Corr
0.99	MSPIX	Mainstay Sp 500	Pair Corr
0.95	DELNX	Doubleline Low Duration	Pair Corr
0.98	CHYDX	Calamos High Income	Pair Corr
0.99	GWOAX	Gmo Global Developed	Pair Corr
0.98	LFRRX	Lord Abbett Inv	Pair Corr
0.99	VFINX	Vanguard 500 Index	Pair Corr
0.96	NUSAX	Nationwide Government	Pair Corr
0.98	DVOIX	Dividend Opportunities	Pair Corr
0.77	ANGLX	Angel Oak Multi	Pair Corr
0.98	CLVRX	Columbia International	Pair Corr
0.98	USBSX	Cornerstone Moderate	Pair Corr
0.99	GMYYX	Mydestination 2045	Pair Corr
0.98	GMWZX	Mydestination 2025	Pair Corr
0.98	PISHX	Cohen Steers Preferred	Pair Corr
0.98	GCMRX	Goldman Sachs Mid	Pair Corr

Related Correlations Analysis

	CRF	DX	HRZN	OPP	OXLC	PCF	RIV
CRF		0.73	-0.1	0.9	-0.54	0.85	0.9	CRF
DX	0.73		0.03	0.83	-0.13	0.85	0.83	DX
HRZN	-0.1	0.03		-0.27	-0.28	-0.29	-0.28	HRZN
OPP	0.9	0.83	-0.27		-0.31	0.93	0.96	OPP
OXLC	-0.54	-0.13	-0.28	-0.31		-0.23	-0.26	OXLC
PCF	0.85	0.85	-0.29	0.93	-0.23		0.96	PCF
RIV	0.9	0.83	-0.28	0.96	-0.26	0.96		RIV
	CRF	DX	HRZN	OPP	OXLC	PCF	RIV

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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

RIV	+ 0.96	OPP
RIV	+ 0.96	PCF
PCF	+ 0.93	OPP
OPP	+ 0.9	CRF
RIV	+ 0.9	CRF
PCF	+ 0.85	CRF

High negative correlations

OXLC	- 0.54	CRF
OXLC	- 0.31	OPP
PCF	- 0.29	HRZN
RIV	- 0.28	HRZN
OXLC	- 0.28	HRZN
OPP	- 0.27	HRZN

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
CRF	0.97	0.10	0.07	0.23	1.28	(1.06)	2.23	(1.99)	5.80
DX	0.82	0.08	0.03	0.25	0.93	(0.88)	2.06	(1.51)	6.79
HRZN	1.41	0.02	(0.02)	0.18	3.57	(1.26)	2.99	(2.15)	20.58
OPP	0.43	0.06	(0.05)	0.40	0.53	(0.49)	0.99	(0.84)	4.04
OXLC	0.96	(0.14)	0.00	(0.10)	0.00	0.00	1.66	(1.98)	5.91
PCF	0.48	0.09	0.00	0.42	0.48	(0.57)	1.14	(0.80)	3.44
RIV	0.57	0.20	0.20	0.59	0.00	(0.71)	2.10	(0.76)	3.97

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