IFN vs IIF: Correlation
How closely do Aberdeen India Fund, Inc. (IFN) and Morgan Stanley India Investment Fund, Inc. (IIF) trade together? Their weekly returns over three years give a correlation of 0.79, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IFN and IIF?
Over the past 3 years, IFN and IIF moved with a correlation of 0.79, which is strong. Recent behaviour matches the longer record: 0.82 over 1 year against 0.79 over 3. Over 5 years the correlation is 0.78, and the annualized covariance of weekly returns is 277.2 %².
Few assets follow IFN as closely as IIF, which ranks #1 of 12 tracked partners. On 12-month performance IIF holds a 7.3-point edge, -14.0% against -6.7%.
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.
IFN vs IIF: side by side
| IFN (Aberdeen India Fund, Inc.) | IIF (Morgan Stanley India Investment Fund, Inc.) | |
|---|---|---|
| 1-year return | -14.0% | -6.7% |
| 5-year return | +1.4% | +44.4% |
| Volatility (ann.) | 20.3% | 17.4% |
| Beta vs S&P 500 | 0.74 | 0.61 |
| Max drawdown (3Y) | -33.9% | -24.1% |
| Market cap | $0.5B | – |
| P/E (trailing) | – | – |
| Dividend yield | 19.23% | 8.56% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IFN | IIF |
|---|---|---|
| 2022 | -15.8% | -9.6% |
| 2023 | +36.5% | +21.4% |
| 2024 | -2.3% | +29.6% |
| 2025 | -3.0% | +6.7% |
| 2026 | -7.6% | -7.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IFN and IIF good diversifiers for each other?
To a limited degree. At 0.79 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 IFN and IIF?
The IFN/IIF correlation stands at 0.79 on a 3-year window (1 year: 0.82, 5 years: 0.78), computed from weekly returns as of 2026-08-27.
Is IIF a good diversifier for IFN?
To a limited degree. At 0.79 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 0.79 mean?
A reading of 0.79 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/ifn-vs-iif.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ifn-vs-iif/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IFN correlations · IIF correlations
