CIK vs EMD: Correlation
Measured on weekly returns over the past three years, Credit Suisse Asset Management Income Fund, Inc. (CIK) and Western Asset Emerging Markets Debt Fund Inc (EMD) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CIK and EMD?
On 3 years of weekly data the CIK/EMD correlation comes out at 0.67, strong. Recent behaviour matches the longer record: 0.69 over 1 year against 0.67 over 3. The 5-year figure is 0.57, and annualized covariance runs at 108.3 %².
EMD is one of the assets that tracks CIK most closely: it ranks #2 out of the 11 assets we track against CIK. Their recent paths diverged sharply: over the last 12 months EMD outperformed by 24.3 percentage points (-9.3% for CIK against +15.0% for EMD).
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.
CIK vs EMD: side by side
| CIK (Credit Suisse Asset Management Income Fund, Inc.) | EMD (Western Asset Emerging Markets Debt Fund Inc) | |
|---|---|---|
| 1-year return | -9.3% | +15.0% |
| 5-year return | +11.7% | +28.3% |
| Volatility (ann.) | 11.5% | 14.1% |
| Beta vs S&P 500 | 0.50 | 0.51 |
| Max drawdown (3Y) | -15.4% | -13.3% |
| Market cap | – | – |
| P/E (trailing) | 17.4 | 6.7 |
| Dividend yield | 11.11% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CIK | EMD |
|---|---|---|
| 2022 | -19.0% | -20.8% |
| 2023 | +37.1% | +12.3% |
| 2024 | +1.2% | +16.3% |
| 2025 | +7.8% | +23.4% |
| 2026 | -8.1% | +6.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CIK and EMD good diversifiers for each other?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CIK and EMD?
Using weekly returns as of 2026-08-27: 0.67 over 3 years, with 0.69 over the last year and 0.57 over 5 years.
Is EMD a good diversifier for CIK?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.67 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.
Use this data
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Related comparisons
Hubs: CIK correlations · EMD correlations
