AOD vs OWLT: Correlation
How closely do abrdn Total Dynamic Dividend Fund (AOD) and Owlet, Inc. (OWLT) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AOD and OWLT?
On 3 years of weekly data the AOD/OWLT correlation comes out at 0.40, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.56 versus 0.40 over 3 years. The 5-year figure is 0.31, and annualized covariance runs at 456.8 %².
Among the 26 assets we track against AOD, OWLT sits near the bottom by co-movement, at rank #23. The last year tells two different stories: AOD led by 62.3 percentage points, +31.8% for AOD against -30.5% for OWLT. Note the risk asymmetry: OWLT runs 4.9 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.
AOD vs OWLT: side by side
| AOD (abrdn Total Dynamic Dividend Fund) | OWLT (Owlet, Inc.) | |
|---|---|---|
| 1-year return | +31.8% | -30.5% |
| 5-year return | +70.1% | -94.4% |
| Volatility (ann.) | 15.4% | 75.1% |
| Beta vs S&P 500 | 0.81 | 1.79 |
| Max drawdown (3Y) | -16.7% | -73.1% |
| Market cap | $1.1B | $0.1B |
| P/E (trailing) | 4.1 | – |
| Dividend yield | 5.46% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AOD | OWLT |
|---|---|---|
| 2022 | -17.1% | -79.1% |
| 2023 | +12.7% | -32.5% |
| 2024 | +16.1% | -15.7% |
| 2025 | +32.1% | +263.8% |
| 2026 | +18.1% | -69.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AOD and OWLT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AOD and OWLT?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.56 over the last year and 0.31 over 5 years.
Is OWLT a good diversifier for AOD?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 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: AOD correlations · OWLT correlations
