FAX vs TEI: Correlation
How closely do abrdn Asia-Pacific Income Fund, Inc. (FAX) and Templeton Emerging Markets Income Fund, Inc. (TEI) trade together? Their weekly returns over three years give a correlation of 0.66, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FAX and TEI?
On 3 years of weekly data the FAX/TEI correlation comes out at 0.66, strong. The relationship has been stable: the 1-year correlation (0.66) sits close to the 3-year figure. The 5-year figure is 0.61, and annualized covariance runs at 147.3 %².
By 3-year correlation, TEI places #5 of the 10 assets tracked against FAX. The last year tells two different stories: TEI led by 25.0 percentage points, +2.3% for FAX against +27.3% for TEI.
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.
FAX vs TEI: side by side
| FAX (abrdn Asia-Pacific Income Fund, Inc.) | TEI (Templeton Emerging Markets Income Fund, Inc.) | |
|---|---|---|
| 1-year return | +2.3% | +27.3% |
| 5-year return | +5.2% | +54.4% |
| Volatility (ann.) | 14.2% | 15.8% |
| Beta vs S&P 500 | 0.40 | 0.58 |
| Max drawdown (3Y) | -13.2% | -14.5% |
| Market cap | $0.6B | $0.3B |
| P/E (trailing) | 14.4 | 3.4 |
| Dividend yield | 13.58% | 8.36% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FAX | TEI |
|---|---|---|
| 2022 | -22.7% | -15.5% |
| 2023 | +16.8% | +3.8% |
| 2024 | +2.5% | +11.9% |
| 2025 | +18.2% | +45.6% |
| 2026 | +3.9% | +12.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FAX and TEI 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 FAX and TEI?
The FAX/TEI correlation stands at 0.66 on a 3-year window (1 year: 0.66, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is TEI a good diversifier for FAX?
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/fax-vs-tei.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fax-vs-tei/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FAX correlations · TEI correlations
