Aberdeen Small Correlations

GNSRX Fund

USD 32.42 0.07 0.22%

The current 90-days correlation between Aberdeen Small Cap and Aberdeen Emerging Markets is 0.26 (i.e., Modest diversification). The correlation of Aberdeen Small 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 Small Correlation With Market

Very poor diversification

The correlation between Aberdeen Small Cap and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aberdeen Small Cap 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 Small Cap. 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 metropolitan statistical area.

Moving together with Aberdeen Mutual Fund

0.82	STK	Columbia Seligman Premium	Pair Corr
0.89	GXXAX	Aberdeen Equity A	Pair Corr
0.89	GXXCX	Aberdeen Multi Cap	Pair Corr
0.89	GXXIX	Aberdeen Equity Instl	Pair Corr
0.89	GGLIX	Aberdeen Multi Cap	Pair Corr
1.0	GGUIX	Aberdeen Eq Long	Pair Corr
0.79	ATOAX	Alpine Ultra Short	Pair Corr
0.81	ATOBX	Aberdeen Ultra Short	Pair Corr
0.79	ATOIX	Alpine Ultra Short	Pair Corr
0.71	BJBHX	Aberdeen Global High	Pair Corr
0.67	JHYIX	Aberdeen Global High	Pair Corr

Moving against Aberdeen Mutual Fund

0.54	GWLRX	Aberdeen Gbl Eq	Pair Corr
0.54	CGFIX	Aberdeen Global Fixed	Pair Corr
0.53	GLLAX	Aberdeen Gbl Eq	Pair Corr
0.52	GWLIX	Aberdeen Gbl Eq	Pair Corr
0.49	WVCCX	Aberdeen Gbl Small	Pair Corr
0.48	ABNIX	Aberdeen Global Small	Pair Corr
0.43	JETAX	Aberdeen Select Inte	Pair Corr
0.42	JETIX	Aberdeen Select Inte	Pair Corr
0.57	CUGAX	Aberdeen Global Unco	Pair Corr
0.55	GLLCX	Aberdeen Gbl Eq	Pair Corr
0.53	GLLSX	Aberdeen Global Equty	Pair Corr
0.53	AGCIX	Aberdeen Global Unco	Pair Corr
0.5	CPVCX	Aberdeen Gbl Small	Pair Corr
0.49	WPVAX	Aberdeen Gbl Small	Pair Corr
0.4	AIAFX	Alpine Global Infras	Pair Corr
0.39	AIFRX	Alpine Global Infras	Pair Corr

Related Correlations Analysis

	GEGAX	GEGCX	GEMRX	GWLIX	GWLRX	STK	CGFIX	GGLIX	GGUIX	WVCCX
GEGAX		1.0	1.0	0.55	0.54	0.35	0.03	0.17	-0.08	0.49	GEGAX
GEGCX	1.0		1.0	0.57	0.56	0.33	0.05	0.15	-0.1	0.5	GEGCX
GEMRX	1.0	1.0		0.56	0.55	0.33	0.04	0.15	-0.09	0.5	GEMRX
GWLIX	0.55	0.57	0.56		1.0	-0.13	0.59	-0.25	-0.51	0.87	GWLIX
GWLRX	0.54	0.56	0.55	1.0		-0.14	0.59	-0.27	-0.52	0.87	GWLRX
STK	0.35	0.33	0.33	-0.13	-0.14		-0.44	0.89	0.83	-0.14	STK
CGFIX	0.03	0.05	0.04	0.59	0.59	-0.44		-0.48	-0.54	0.67	CGFIX
GGLIX	0.17	0.15	0.15	-0.25	-0.27	0.89	-0.48		0.9	-0.29	GGLIX
GGUIX	-0.08	-0.1	-0.09	-0.51	-0.52	0.83	-0.54	0.9		-0.48	GGUIX
WVCCX	0.49	0.5	0.5	0.87	0.87	-0.14	0.67	-0.29	-0.48		WVCCX
	GEGAX	GEGCX	GEMRX	GWLIX	GWLRX	STK	CGFIX	GGLIX	GGUIX	WVCCX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

GEGCX	+ 1.0	GEGAX
GEMRX	+ 1.0	GEGAX
GEMRX	+ 1.0	GEGCX
GWLRX	+ 1.0	GWLIX
GGUIX	+ 0.9	GGLIX
GGLIX	+ 0.89	STK

High negative correlations

GGUIX	- 0.54	CGFIX
GGUIX	- 0.52	GWLRX
GGUIX	- 0.51	GWLIX
WVCCX	- 0.48	GGUIX
GGLIX	- 0.48	CGFIX
CGFIX	- 0.44	STK

Risk-Adjusted Indicators

There is a big difference between Aberdeen Mutual Fund performing well and Aberdeen Small 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 Small'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
GEGAX	0.77	(0.07)	(0.14)	(0.02)	0.94	(0.85)	1.67	(1.76)	5.28
GEGCX	0.77	(0.07)	0.00	(0.03)	0.00	0.00	1.69	(1.78)	5.22
GEMRX	0.76	(0.07)	0.00	(0.02)	0.00	0.00	1.71	(1.72)	5.33
GWLIX	0.62	(0.15)	0.00	(0.14)	0.00	0.00	1.11	(1.37)	3.22
GWLRX	0.62	(0.15)	0.00	(0.15)	0.00	0.00	1.12	(1.34)	3.28
STK	0.72	(0.01)	(0.03)	0.11	0.90	(0.74)	1.61	(1.94)	4.18
CGFIX	0.15	0.00	(0.51)	0.24	0.16	(0.21)	0.23	(0.34)	0.93
GGLIX	0.58	(0.01)	(0.05)	0.11	0.70	(0.65)	1.11	(1.29)	3.77
GGUIX	0.79	0.04	0.07	0.16	0.72	(0.88)	1.85	(1.27)	7.48
WVCCX	0.65	(0.13)	0.00	(0.07)	0.00	0.00	1.43	(1.35)	3.58

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC