AWP vs GUG: Correlation
How closely do abrdn Global Premier Properties Fund (AWP) and Guggenheim Active Allocation Fund (GUG) trade together? Their weekly returns over three years give a correlation of 0.63, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AWP and GUG?
Over the past 3 years, AWP and GUG moved with a correlation of 0.63, which is strong. The link has loosened recently: the 1-year correlation (0.51) runs below the 3-year figure (0.63). Over 5 years the correlation is 0.66, and the annualized covariance of weekly returns is 185.5 %².
Within AWP's tracked universe of 16 assets, GUG comes in at #9 by 3-year correlation. Neither side won the trailing year by much: +10.1% against +5.4%. One caveat on sizing: AWP is 1.8 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.
AWP vs GUG: side by side
| AWP (abrdn Global Premier Properties Fund) | GUG (Guggenheim Active Allocation Fund) | |
|---|---|---|
| 1-year return | +10.1% | +5.4% |
| 5-year return | +2.9% | +16.3% |
| Volatility (ann.) | 23.0% | 12.9% |
| Beta vs S&P 500 | 0.73 | 0.40 |
| Max drawdown (3Y) | -23.1% | -12.1% |
| Market cap | $0.4B | $0.5B |
| P/E (trailing) | 6.6 | 9.1 |
| Dividend yield | 12.21% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AWP | GUG |
|---|---|---|
| 2022 | -37.1% | -26.5% |
| 2023 | +12.6% | +20.7% |
| 2024 | +12.2% | +11.5% |
| 2025 | +12.4% | +13.1% |
| 2026 | +10.1% | +4.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AWP and GUG good diversifiers for each other?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AWP and GUG?
Using weekly returns as of 2026-08-27: 0.63 over 3 years, with 0.51 over the last year and 0.66 over 5 years.
Is GUG a good diversifier for AWP?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.63 mean?
On the −1 to +1 scale, 0.63 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/awp-vs-gug.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/awp-vs-gug/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AWP correlations · GUG correlations
