AEF vs ATS: Correlation
Measured on weekly returns over the past three years, abrdn Emerging Markets ex-China Fund, Inc. (AEF) and ATS Corporation (ATS) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEF and ATS?
On 3 years of weekly data the AEF/ATS correlation comes out at 0.45, moderate. Recent behaviour matches the longer record: 0.48 over 1 year against 0.45 over 3. The 5-year figure is 0.48, and annualized covariance runs at 404.9 %².
Among the 21 assets we track against AEF, ATS ranks #13 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months AEF outperformed by 97.9 percentage points (+69.4% for AEF against -28.5% for ATS). Risk is not evenly split, since ATS carries 1.6 times the volatility of the other side.
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 ATS: side by side
| AEF (abrdn Emerging Markets ex-China Fund, Inc.) | ATS (ATS Corporation) | |
|---|---|---|
| 1-year return | +69.4% | -28.5% |
| 5-year return | +66.6% | -46.0% |
| Volatility (ann.) | 23.7% | 38.0% |
| Beta vs S&P 500 | 1.08 | 1.06 |
| Max drawdown (3Y) | -20.0% | -57.3% |
| Market cap | $0.4B | $1.9B |
| P/E (trailing) | 4.1 | 57.1 |
| Dividend yield | 6.80% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AEF | ATS |
|---|---|---|
| 2022 | -29.6% | -22.1% |
| 2023 | +7.1% | +39.2% |
| 2024 | +9.4% | -29.2% |
| 2025 | +50.2% | -9.6% |
| 2026 | +41.8% | -29.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEF and ATS good diversifiers for each other?
Reasonably. At 0.45, AEF and ATS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AEF and ATS?
The AEF/ATS correlation stands at 0.45 on a 3-year window (1 year: 0.48, 5 years: 0.48), computed from weekly returns as of 2026-08-27.
Is ATS a good diversifier for AEF?
Reasonably. At 0.45, AEF and ATS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 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-ats.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aef-vs-ats/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AEF correlations · ATS correlations
