AEF vs KF: Correlation
abrdn Emerging Markets ex-China Fund, Inc. (AEF) and Korea Fund, Inc. (The) New (KF) show a strong relationship: their 3-year correlation of weekly returns is 0.78.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEF and KF?
On 3 years of weekly data the AEF/KF correlation comes out at 0.78, strong. Recent behaviour matches the longer record: 0.86 over 1 year against 0.78 over 3. The 5-year figure is 0.73, and annualized covariance runs at 628.7 %².
Among the 21 assets we track against AEF, KF ranks #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with KF ahead by 75.0 points (+69.4% versus +144.4%).
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 KF: side by side
| AEF (abrdn Emerging Markets ex-China Fund, Inc.) | KF (Korea Fund, Inc. (The) New) | |
|---|---|---|
| 1-year return | +69.4% | +144.4% |
| 5-year return | +66.6% | +138.0% |
| Volatility (ann.) | 23.7% | 33.8% |
| Beta vs S&P 500 | 1.08 | 1.18 |
| Max drawdown (3Y) | -20.0% | -35.2% |
| Market cap | $0.4B | $0.3B |
| P/E (trailing) | 4.1 | 2.9 |
| Dividend yield | 6.80% | 2.17% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AEF | KF |
|---|---|---|
| 2022 | -29.6% | -30.0% |
| 2023 | +7.1% | +12.3% |
| 2024 | +9.4% | -19.3% |
| 2025 | +50.2% | +104.8% |
| 2026 | +41.8% | +78.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEF and KF good diversifiers for each other?
To a limited degree. At 0.78 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between AEF and KF?
The AEF/KF correlation stands at 0.78 on a 3-year window (1 year: 0.86, 5 years: 0.73), computed from weekly returns as of 2026-08-27.
Is KF a good diversifier for AEF?
To a limited degree. At 0.78 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.78 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-kf.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aef-vs-kf/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AEF correlations · KF correlations
