ERC vs MMT: Correlation
Measured on weekly returns over the past three years, Allspring Multi-Sector Income Fund (ERC) and Aberdeen Multi-Market Income Fund (MMT) carry a correlation of 0.69, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ERC and MMT?
Across a 3-year window, the weekly returns of ERC and MMT correlate at 0.69, strong. The relationship has been stable: the 1-year correlation (0.62) sits close to the 3-year figure. Stretching to 5 years gives 0.67, with an annualized covariance of 58.3 %².
Among the 22 assets we track against ERC, MMT ranks #11 by 3-year correlation. Neither side won the trailing year by much: +6.7% against +3.2%.
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 MMT: side by side
| ERC (Allspring Multi-Sector Income Fund) | MMT (Aberdeen Multi-Market Income Fund) | |
|---|---|---|
| 1-year return | +6.7% | +3.2% |
| 5-year return | +11.4% | +5.0% |
| Volatility (ann.) | 10.1% | 8.4% |
| Beta vs S&P 500 | 0.41 | 0.27 |
| Max drawdown (3Y) | -9.8% | -7.1% |
| Market cap | $0.3B | $0.2B |
| P/E (trailing) | 9.7 | 11.7 |
| Dividend yield | 9.33% | 9.03% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ERC | MMT |
|---|---|---|
| 2022 | -17.8% | -23.0% |
| 2023 | +4.9% | +10.1% |
| 2024 | +6.1% | +12.5% |
| 2025 | +11.1% | +8.1% |
| 2026 | +5.8% | +1.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ERC and MMT good diversifiers for each other?
Only partially. A correlation of 0.69 means ERC and MMT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ERC and MMT?
Using weekly returns as of 2026-08-27: 0.69 over 3 years, with 0.62 over the last year and 0.67 over 5 years.
Is MMT a good diversifier for ERC?
Only partially. A correlation of 0.69 means ERC and MMT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.69 mean?
A reading of 0.69 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-mmt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/erc-vs-mmt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ERC correlations · MMT correlations
