AGD vs TMQ: Correlation
abrdn Global Dynamic Dividend Fund (AGD) and Trilogy Metals Inc. (TMQ) show a negative relationship: their 3-year correlation of weekly returns is -0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGD and TMQ?
Over the past 3 years, AGD and TMQ moved with a correlation of -0.29, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.50 versus -0.29 over 3 years. Over 5 years the correlation is -0.15, and the annualized covariance of weekly returns is -804.2 %².
TMQ is close to the least connected end of AGD's tracked universe, ranking #12 of 15. Correlation aside, the last 12 months split them widely, with TMQ ahead by 106.6 points (+19.7% versus +126.3%). Note the risk asymmetry: TMQ runs 6.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
AGD vs TMQ: side by side
| AGD (abrdn Global Dynamic Dividend Fund) | TMQ (Trilogy Metals Inc.) | |
|---|---|---|
| 1-year return | +19.7% | +126.3% |
| 5-year return | +65.7% | +85.3% |
| Volatility (ann.) | 21.4% | 131.6% |
| Beta vs S&P 500 | 0.88 | 0.28 |
| Max drawdown (3Y) | -20.3% | -72.5% |
| Market cap | – | $0.7B |
| P/E (trailing) | 4.2 | – |
| Dividend yield | 5.26% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AGD | TMQ |
|---|---|---|
| 2022 | -15.3% | -66.7% |
| 2023 | +7.4% | -21.8% |
| 2024 | +16.4% | +169.8% |
| 2025 | +34.3% | +271.6% |
| 2026 | +16.5% | -12.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGD and TMQ good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AGD and TMQ?
As of 2026-08-27, the correlation of weekly returns between AGD and TMQ is -0.29 over 3 years, -0.50 over 1 year and -0.15 over 5 years.
Is TMQ a good diversifier for AGD?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.29 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.
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Related comparisons
Hubs: AGD correlations · TMQ correlations
