AEF vs VLN: Correlation
Measured on weekly returns over the past three years, abrdn Emerging Markets ex-China Fund, Inc. (AEF) and Valens Semiconductor Ltd. (VLN) 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 VLN?
Over the past 3 years, AEF and VLN moved with a correlation of 0.45, which is moderate. Little has changed lately, as the 1-year reading of 0.52 lands near the 3-year figure. Over 5 years the correlation is 0.37, and the annualized covariance of weekly returns is 836.2 %².
Within AEF's tracked universe of 21 assets, VLN comes in at #14 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months AEF outperformed by 76.8 percentage points (+69.4% for AEF against -7.4% for VLN). Risk is not evenly split, since VLN carries 3.3 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 VLN: side by side
| AEF (abrdn Emerging Markets ex-China Fund, Inc.) | VLN (Valens Semiconductor Ltd.) | |
|---|---|---|
| 1-year return | +69.4% | -7.4% |
| 5-year return | +66.6% | -74.7% |
| Volatility (ann.) | 23.7% | 79.0% |
| Beta vs S&P 500 | 1.08 | 2.08 |
| Max drawdown (3Y) | -20.0% | -67.9% |
| Market cap | $0.4B | $0.2B |
| P/E (trailing) | 4.1 | – |
| Dividend yield | 6.80% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AEF | VLN |
|---|---|---|
| 2022 | -29.6% | -30.3% |
| 2023 | +7.1% | -54.4% |
| 2024 | +9.4% | +6.1% |
| 2025 | +50.2% | -45.4% |
| 2026 | +41.8% | +31.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEF and VLN good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AEF and VLN?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.52 over the last year and 0.37 over 5 years.
Is VLN a good diversifier for AEF?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined 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-vln.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aef-vs-vln/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AEF correlations · VLN correlations
