AEF vs EL: Correlation
abrdn Emerging Markets ex-China Fund, Inc. (AEF) and Estée Lauder Companies (The) (EL) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEF and EL?
Over the past 3 years, AEF and EL moved with a correlation of 0.44, which is moderate. Little has changed lately, as the 1-year reading of 0.48 lands near the 3-year figure. Over 5 years the correlation is 0.46, and the annualized covariance of weekly returns is 487.7 %².
Among the 21 assets we track against AEF, EL ranks #15 by 3-year correlation. The last year tells two different stories: AEF led by 53.0 percentage points, +69.4% for AEF against +16.4% for EL. One caveat on sizing: EL is 2.0 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.
AEF vs EL: side by side
| AEF (abrdn Emerging Markets ex-China Fund, Inc.) | EL (Estée Lauder Companies (The)) | |
|---|---|---|
| 1-year return | +69.4% | +16.4% |
| 5-year return | +66.6% | -66.7% |
| Volatility (ann.) | 23.7% | 47.0% |
| Beta vs S&P 500 | 1.08 | 1.28 |
| Max drawdown (3Y) | -20.0% | -68.4% |
| Market cap | $0.4B | $38.4B |
| P/E (trailing) | 4.1 | 208.3 |
| Dividend yield | 6.80% | 1.33% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | AEF | EL |
|---|---|---|
| 2022 | -29.6% | -32.3% |
| 2023 | +7.1% | -40.1% |
| 2024 | +9.4% | -47.6% |
| 2025 | +50.2% | +42.1% |
| 2026 | +41.8% | +2.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEF and EL good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AEF and EL?
The AEF/EL correlation stands at 0.44 on a 3-year window (1 year: 0.48, 5 years: 0.46), computed from weekly returns as of 2026-08-27.
Is EL a good diversifier for AEF?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.44 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aef-vs-el.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aef-vs-el/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AEF correlations · EL correlations
