AEF vs HLIT: Correlation
Measured on weekly returns over the past three years, abrdn Emerging Markets ex-China Fund, Inc. (AEF) and Harmonic Inc. (HLIT) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEF and HLIT?
Across a 3-year window, the weekly returns of AEF and HLIT correlate at 0.49, moderate. The link has tightened recently: the 1-year correlation (0.66) runs above the 3-year figure (0.49). Stretching to 5 years gives 0.37, with an annualized covariance of 544.5 %².
Among the 21 assets we track against AEF, HLIT ranks #12 by 3-year correlation. Correlation aside, the last 12 months split them widely, with AEF ahead by 40.0 points (+69.4% versus +29.4%). One caveat on sizing: HLIT 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 HLIT: side by side
| AEF (abrdn Emerging Markets ex-China Fund, Inc.) | HLIT (Harmonic Inc.) | |
|---|---|---|
| 1-year return | +69.4% | +29.4% |
| 5-year return | +66.6% | +34.2% |
| Volatility (ann.) | 23.7% | 46.9% |
| Beta vs S&P 500 | 1.08 | 1.41 |
| Max drawdown (3Y) | -20.0% | -44.3% |
| Market cap | $0.4B | $1.3B |
| P/E (trailing) | 4.1 | 51.2 |
| Dividend yield | 6.80% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AEF | HLIT |
|---|---|---|
| 2022 | -29.6% | +11.4% |
| 2023 | +7.1% | -0.5% |
| 2024 | +9.4% | +1.5% |
| 2025 | +50.2% | -25.2% |
| 2026 | +41.8% | +24.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEF and HLIT good diversifiers for each other?
Reasonably. At 0.49, AEF and HLIT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AEF and HLIT?
The AEF/HLIT correlation stands at 0.49 on a 3-year window (1 year: 0.66, 5 years: 0.37), computed from weekly returns as of 2026-08-27.
Is HLIT a good diversifier for AEF?
Reasonably. At 0.49, AEF and HLIT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 mean?
A reading of 0.49 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aef-vs-hlit.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/aef-vs-hlit/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AEF correlations · HLIT correlations
