ACP vs AGNC: Correlation
How closely do abrdn Income Credit Strategies Fund (ACP) and AGNC Investment Corp. (AGNC) trade together? Their weekly returns over three years give a correlation of 0.65, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACP and AGNC?
On 3 years of weekly data the ACP/AGNC correlation comes out at 0.65, strong. The past 12 months show a weaker link (0.41) than the 3-year average (0.65). The 5-year figure is 0.50, and annualized covariance runs at 260.3 %².
Within ACP's tracked universe of 12 assets, AGNC comes in at #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months AGNC outperformed by 26.9 percentage points (+1.1% for ACP against +28.0% for AGNC). One caveat on sizing: AGNC is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ACP vs AGNC: side by side
| ACP (abrdn Income Credit Strategies Fund) | AGNC (AGNC Investment Corp.) | |
|---|---|---|
| 1-year return | +1.1% | +28.0% |
| 5-year return | +0.6% | +33.5% |
| Volatility (ann.) | 16.0% | 25.1% |
| Beta vs S&P 500 | 0.59 | 0.87 |
| Max drawdown (3Y) | -19.0% | -30.5% |
| Market cap | $0.6B | $13.0B |
| P/E (trailing) | 7.7 | 5.4 |
| Dividend yield | 18.53% | 13.32% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ACP | AGNC |
|---|---|---|
| 2022 | -22.9% | -21.7% |
| 2023 | +19.3% | +10.1% |
| 2024 | +4.8% | +8.9% |
| 2025 | +6.6% | +34.9% |
| 2026 | +4.9% | +10.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACP and AGNC good diversifiers for each other?
Only partially. A correlation of 0.65 means ACP and AGNC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ACP and AGNC?
Using weekly returns as of 2026-08-27: 0.65 over 3 years, with 0.41 over the last year and 0.50 over 5 years.
Is AGNC a good diversifier for ACP?
Only partially. A correlation of 0.65 means ACP and AGNC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.65 mean?
On the −1 to +1 scale, 0.65 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/acp-vs-agnc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/acp-vs-agnc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ACP correlations · AGNC correlations
