ERC vs FAX: Correlation
Measured on weekly returns over the past three years, Allspring Multi-Sector Income Fund (ERC) and abrdn Asia-Pacific Income Fund, Inc. (FAX) carry a correlation of 0.66, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ERC and FAX?
On 3 years of weekly data the ERC/FAX correlation comes out at 0.66, strong. The relationship has been stable: the 1-year correlation (0.71) sits close to the 3-year figure. The 5-year figure is 0.63, and annualized covariance runs at 93.9 %².
By 3-year correlation, FAX places #13 of the 22 assets tracked against ERC. Neither side won the trailing year by much: +6.7% against +2.3%.
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.
ERC vs FAX: side by side
| ERC (Allspring Multi-Sector Income Fund) | FAX (abrdn Asia-Pacific Income Fund, Inc.) | |
|---|---|---|
| 1-year return | +6.7% | +2.3% |
| 5-year return | +11.4% | +5.2% |
| Volatility (ann.) | 10.1% | 14.2% |
| Beta vs S&P 500 | 0.41 | 0.40 |
| Max drawdown (3Y) | -9.8% | -13.2% |
| Market cap | $0.3B | $0.6B |
| P/E (trailing) | 9.7 | 14.4 |
| Dividend yield | 9.33% | 13.58% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ERC | FAX |
|---|---|---|
| 2022 | -17.8% | -22.7% |
| 2023 | +4.9% | +16.8% |
| 2024 | +6.1% | +2.5% |
| 2025 | +11.1% | +18.2% |
| 2026 | +5.8% | +3.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ERC and FAX good diversifiers for each other?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ERC and FAX?
As of 2026-08-27, the correlation of weekly returns between ERC and FAX is 0.66 over 3 years, 0.71 over 1 year and 0.63 over 5 years.
Is FAX a good diversifier for ERC?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.66 mean?
A reading of 0.66 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/erc-vs-fax.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/erc-vs-fax/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ERC correlations · FAX correlations
