EMD vs VGI: Correlation
Western Asset Emerging Markets Debt Fund Inc (EMD) and Virtus Global Multi-Sector Income Fund (VGI) show a strong relationship: their 3-year correlation of weekly returns is 0.75.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EMD and VGI?
Over the past 3 years, EMD and VGI moved with a correlation of 0.75, which is strong. Recent behaviour matches the longer record: 0.69 over 1 year against 0.75 over 3. Over 5 years the correlation is 0.76, and the annualized covariance of weekly returns is 108.6 %².
Within EMD's tracked universe of 15 assets, VGI comes in at #4 by 3-year correlation. The trailing year gives EMD the advantage: +15.0% versus +3.8%, a 11.2-point spread.
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.
EMD vs VGI: side by side
| EMD (Western Asset Emerging Markets Debt Fund Inc) | VGI (Virtus Global Multi-Sector Income Fund) | |
|---|---|---|
| 1-year return | +15.0% | +3.8% |
| 5-year return | +28.3% | +11.9% |
| Volatility (ann.) | 14.1% | 10.3% |
| Beta vs S&P 500 | 0.51 | 0.38 |
| Max drawdown (3Y) | -13.3% | -11.3% |
| Market cap | – | $0.1B |
| P/E (trailing) | 6.7 | 7.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EMD | VGI |
|---|---|---|
| 2022 | -20.8% | -22.3% |
| 2023 | +12.3% | +13.4% |
| 2024 | +16.3% | +10.4% |
| 2025 | +23.4% | +16.1% |
| 2026 | +6.9% | +1.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EMD and VGI good diversifiers for each other?
To a limited degree. At 0.75 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 EMD and VGI?
As of 2026-08-27, the correlation of weekly returns between EMD and VGI is 0.75 over 3 years, 0.69 over 1 year and 0.76 over 5 years.
Is VGI a good diversifier for EMD?
To a limited degree. At 0.75 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 0.75 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
$ curl https://www.pairbook.io/api/v1/pairs/emd-vs-vgi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/emd-vs-vgi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EMD correlations · VGI correlations
