Which stocks are most correlated with FAX?

Based on one year of daily returns, the stocks most correlated with abrdn Asia-Pacific Income Fund, Inc (FAX) are EMD (0.60), EDD (0.55) and CCEF (0.55). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.

Which stocks are inversely correlated with FAX?

Over the past year, the stocks most inversely correlated with abrdn Asia-Pacific Income Fund, Inc (FAX) are EPV (-0.40), SPXS (-0.40) and SPXU (-0.40). A negative correlation means the two stocks have tended to move in opposite directions.

abrdn Asia-Pacific Income Fund, Inc (FAX) — Stock Correlations & Overview

Over the past year, FAX has moved most closely with EMD, EDD, CCEF. Explore the stocks most correlated and inversely correlated with FAX below, along with its price, financials, and company profile.

Stocks correlated with FAX

Correlation of daily returns. Higher positive values move with FAX; negative values move opposite it. Informational only, not investment advice.

Most correlated with FAX

Symbol	Company	Correlation
EMD	Western Asset Emerging Markets Debt Fund, Inc	0.60
EDD	Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.	0.55
CCEF	Calamos CEF Income & Arbitrage ETF	0.55
DFP	FLAHERTY & CRUMRINE DYNAMIC PREFERRED AND INCOME FUND INCORPORATED	0.54
ACP	abrdn Income Credit Strategies Fund	0.54

Most inversely correlated with FAX

Symbol	Company	Correlation
EPV	ProShares UltraShort FTSE Europe	-0.40
SPXS	Direxion Daily S&P 500 Bear 3x ETF	-0.40
SPXU	ProShares UltraPro Short S&P 500	-0.40
SDS	ProShares UltraShort S&P500	-0.39
SH	ProShares Short S&P500	-0.39

Frequently asked questions about FAX correlations

Which stocks are most correlated with FAX?: Based on one year of daily returns, the stocks most correlated with abrdn Asia-Pacific Income Fund, Inc (FAX) are EMD (0.60), EDD (0.55) and CCEF (0.55). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
Which stocks are inversely correlated with FAX?: Over the past year, the stocks most inversely correlated with abrdn Asia-Pacific Income Fund, Inc (FAX) are EPV (-0.40), SPXS (-0.40) and SPXU (-0.40). A negative correlation means the two stocks have tended to move in opposite directions.
What does a correlation of 0.8 mean for a stock?: Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
How are these FAX correlations calculated?: We compute the correlation of daily returns between FAX and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.

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