AEF vs STX: Correlation
How closely do abrdn Emerging Markets ex-China Fund, Inc. (AEF) and Seagate Technology (STX) trade together? Their weekly returns over three years give a correlation of 0.59, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEF and STX?
Across a 3-year window, the weekly returns of AEF and STX correlate at 0.59, moderate. The relationship has been stable: the 1-year correlation (0.59) sits close to the 3-year figure. Stretching to 5 years gives 0.55, with an annualized covariance of 717.8 %².
By 3-year correlation, STX places #8 of the 21 assets tracked against AEF. Correlation aside, the last 12 months split them widely, with STX ahead by 341.4 points (+69.4% versus +410.8%). One caveat on sizing: STX is 2.2 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 STX: side by side
| AEF (abrdn Emerging Markets ex-China Fund, Inc.) | STX (Seagate Technology) | |
|---|---|---|
| 1-year return | +69.4% | +410.8% |
| 5-year return | +66.6% | +1032.5% |
| Volatility (ann.) | 23.7% | 51.3% |
| Beta vs S&P 500 | 1.08 | 1.97 |
| Max drawdown (3Y) | -20.0% | -40.0% |
| Market cap | $0.4B | $192.0B |
| P/E (trailing) | 4.1 | 61.0 |
| Dividend yield | 6.80% | 0.35% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | AEF | STX |
|---|---|---|
| 2022 | -29.6% | -51.4% |
| 2023 | +7.1% | +69.1% |
| 2024 | +9.4% | +4.1% |
| 2025 | +50.2% | +225.3% |
| 2026 | +41.8% | +208.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEF and STX good diversifiers for each other?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AEF and STX?
Using weekly returns as of 2026-08-27: 0.59 over 3 years, with 0.59 over the last year and 0.55 over 5 years.
Is STX a good diversifier for AEF?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.59 mean?
A reading of 0.59 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-stx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aef-vs-stx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AEF correlations · STX correlations
