AEF vs ASTI: Correlation
How closely do abrdn Emerging Markets ex-China Fund, Inc. (AEF) and Ascent Solar Technologies, Inc (ASTI) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEF and ASTI?
On 3 years of weekly data the AEF/ASTI correlation comes out at 0.37, moderate. The relationship has been stable: the 1-year correlation (0.42) sits close to the 3-year figure. The 5-year figure is 0.36, and annualized covariance runs at 1240.1 %².
Within AEF's tracked universe of 21 assets, ASTI comes in at #16 by 3-year correlation. Correlation aside, the last 12 months split them widely, with AEF ahead by 21.3 points (+69.4% versus +48.1%). Note the risk asymmetry: ASTI runs 6.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
AEF vs ASTI: side by side
| AEF (abrdn Emerging Markets ex-China Fund, Inc.) | ASTI (Ascent Solar Technologies, Inc) | |
|---|---|---|
| 1-year return | +69.4% | +48.1% |
| 5-year return | +66.6% | n/a |
| Volatility (ann.) | 23.7% | 141.9% |
| Beta vs S&P 500 | 1.08 | 2.60 |
| Max drawdown (3Y) | -20.0% | -99.9% |
| Market cap | $0.4B | – |
| P/E (trailing) | 4.1 | – |
| Dividend yield | 6.80% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AEF | ASTI |
|---|---|---|
| 2022 | -29.6% | – |
| 2023 | +7.1% | -99.7% |
| 2024 | +9.4% | -96.2% |
| 2025 | +50.2% | +25.7% |
| 2026 | +41.8% | -24.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEF and ASTI good diversifiers for each other?
Reasonably. At 0.37, AEF and ASTI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AEF and ASTI?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.42 over the last year and 0.36 over 5 years.
Is ASTI a good diversifier for AEF?
Reasonably. At 0.37, AEF and ASTI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 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/aef-vs-asti.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/aef-vs-asti/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AEF correlations · ASTI correlations
