AWF vs MELI: Correlation
How closely do Alliancebernstein Global High Income Fund (AWF) and MercadoLibre, Inc. (MELI) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AWF and MELI?
On 3 years of weekly data the AWF/MELI correlation comes out at 0.55, moderate. Little has changed lately, as the 1-year reading of 0.58 lands near the 3-year figure. The 5-year figure is 0.52, and annualized covariance runs at 188.4 %².
By 3-year correlation, MELI places #13 of the 18 assets tracked against AWF. Their recent paths diverged sharply: over the last 12 months AWF outperformed by 17.4 percentage points (-2.6% for AWF against -20.0% for MELI). Risk is not evenly split, since MELI carries 3.7 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.
AWF vs MELI: side by side
| AWF (Alliancebernstein Global High Income Fund) | MELI (MercadoLibre, Inc.) | |
|---|---|---|
| 1-year return | -2.6% | -20.0% |
| 5-year return | +21.4% | +2.8% |
| Volatility (ann.) | 9.7% | 35.7% |
| Beta vs S&P 500 | 0.42 | 1.04 |
| Max drawdown (3Y) | -11.1% | -40.8% |
| Market cap | $0.9B | $97.9B |
| P/E (trailing) | 13.6 | 53.2 |
| Dividend yield | 7.26% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AWF | MELI |
|---|---|---|
| 2022 | -16.6% | -37.2% |
| 2023 | +18.4% | +85.7% |
| 2024 | +14.4% | +8.2% |
| 2025 | +7.6% | +18.5% |
| 2026 | -0.0% | -4.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AWF and MELI good diversifiers for each other?
To a limited degree. At 0.55 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 AWF and MELI?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.58 over the last year and 0.52 over 5 years.
Is MELI a good diversifier for AWF?
To a limited degree. At 0.55 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 0.55 mean?
On the −1 to +1 scale, 0.55 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/awf-vs-meli.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/awf-vs-meli/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AWF correlations · MELI correlations
