GUG vs MMT: Correlation
How closely do Guggenheim Active Allocation Fund (GUG) and Aberdeen Multi-Market Income Fund (MMT) trade together? Their weekly returns over three years give a correlation of 0.64, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GUG and MMT?
On 3 years of weekly data the GUG/MMT correlation comes out at 0.64, strong. Recent behaviour matches the longer record: 0.62 over 1 year against 0.64 over 3. The 5-year figure is 0.63, and annualized covariance runs at 69.4 %².
In GUG's tracked universe of 12 assets, MMT sits right near the top at #3. Their 12-month results are close: +5.4% for GUG against +3.2% for MMT. Risk is not evenly split, since GUG carries 1.5 times the volatility of the other side.
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.
GUG vs MMT: side by side
| GUG (Guggenheim Active Allocation Fund) | MMT (Aberdeen Multi-Market Income Fund) | |
|---|---|---|
| 1-year return | +5.4% | +3.2% |
| 5-year return | +16.3% | +5.0% |
| Volatility (ann.) | 12.9% | 8.4% |
| Beta vs S&P 500 | 0.40 | 0.27 |
| Max drawdown (3Y) | -12.1% | -7.1% |
| Market cap | $0.5B | $0.2B |
| P/E (trailing) | 9.1 | 11.7 |
| Dividend yield | 0.00% | 9.03% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GUG | MMT |
|---|---|---|
| 2022 | -26.5% | -23.0% |
| 2023 | +20.7% | +10.1% |
| 2024 | +11.5% | +12.5% |
| 2025 | +13.1% | +8.1% |
| 2026 | +4.2% | +1.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GUG and MMT good diversifiers for each other?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GUG and MMT?
The GUG/MMT correlation stands at 0.64 on a 3-year window (1 year: 0.62, 5 years: 0.63), computed from weekly returns as of 2026-08-27.
Is MMT a good diversifier for GUG?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.64 mean?
On the −1 to +1 scale, 0.64 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gug-vs-mmt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gug-vs-mmt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GUG correlations · MMT correlations
