MGF vs WIA: Correlation
Aberdeen Government Markets Income Fund (MGF) and Western Asset Inflation-Linked Income Fund (WIA) show a strong relationship: their 3-year correlation of weekly returns is 0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MGF and WIA?
Over the past 3 years, MGF and WIA moved with a correlation of 0.60, which is strong. Little has changed lately, as the 1-year reading of 0.51 lands near the 3-year figure. Over 5 years the correlation is 0.56, and the annualized covariance of weekly returns is 38.1 %².
WIA is one of the assets that tracks MGF most closely: it ranks #2 out of the 10 assets we track against MGF. Twelve-month performance is nearly a tie, at +1.7% for MGF and +2.1% for WIA.
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.
MGF vs WIA: side by side
| MGF (Aberdeen Government Markets Income Fund) | WIA (Western Asset Inflation-Linked Income Fund) | |
|---|---|---|
| 1-year return | +1.7% | +2.1% |
| 5-year return | -3.4% | -3.9% |
| Volatility (ann.) | 8.8% | 7.2% |
| Beta vs S&P 500 | 0.17 | 0.20 |
| Max drawdown (3Y) | -8.7% | -6.4% |
| Market cap | – | $0.2B |
| P/E (trailing) | 26.3 | 14.0 |
| Dividend yield | 8.17% | 7.83% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MGF | WIA |
|---|---|---|
| 2022 | -15.8% | -25.8% |
| 2023 | +3.8% | +5.0% |
| 2024 | +4.2% | +6.1% |
| 2025 | +6.3% | +11.4% |
| 2026 | +0.8% | +1.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MGF and WIA good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MGF and WIA?
The MGF/WIA correlation stands at 0.60 on a 3-year window (1 year: 0.51, 5 years: 0.56), computed from weekly returns as of 2026-08-27.
Is WIA a good diversifier for MGF?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 mean?
On the −1 to +1 scale, 0.60 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
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Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: MGF correlations · WIA correlations
