Matthews Asia Correlations

MAPIX Fund

USD 14.72 0.28 1.94%

The correlation of Matthews Asia is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Matthews Asia Correlation With Market

Average diversification

The correlation between Matthews Asia Dividend and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Matthews Asia Dividend and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Matthews Asia Dividend. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Matthews Mutual Fund

1.0	MIPIX	Matthews Asia Dividend	Pair Corr
0.9	FPBFX	Fidelity Pacific Basin	Pair Corr
0.86	MPACX	Matthews Asia Growth	Pair Corr
0.86	MIAPX	Matthews Asia Growth	Pair Corr
0.86	BRUFX	Bruce Fund Bruce	Pair Corr
0.83	KF	Korea Closed	Pair Corr
0.8	CEE	Central Europe Russia	Pair Corr
0.94	RIRAX	Capital Income Builder	Pair Corr
0.84	XEDDX	Morgan Stanley Emerging	Pair Corr
0.68	MMM	3M Company	Pair Corr
0.79	GE	GE Aerospace	Pair Corr

Related Correlations Analysis

	MACSX	MAPTX	MPACX	MINDX	MCHFX
MACSX		0.0	0.0	0.0	0.0	MACSX
MAPTX	0.0		0.98	-0.19	0.86	MAPTX
MPACX	0.0	0.98		-0.11	0.78	MPACX
MINDX	0.0	-0.19	-0.11		-0.47	MINDX
MCHFX	0.0	0.86	0.78	-0.47		MCHFX
	MACSX	MAPTX	MPACX	MINDX	MCHFX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

MPACX	+ 0.98	MAPTX
MCHFX	+ 0.86	MAPTX
MCHFX	+ 0.78	MPACX
MAPTX	+ 0.0	MACSX
MPACX	+ 0.0	MACSX
MINDX	+ 0.0	MACSX

High negative correlations

MCHFX	- 0.47	MINDX
MINDX	- 0.19	MAPTX
MINDX	- 0.11	MPACX
MCHFX	- 0.0	MACSX
MINDX	- 0.0	MACSX
MPACX	- 0.0	MACSX

Risk-Adjusted Indicators

There is a big difference between Matthews Mutual Fund performing well and Matthews Asia Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Matthews Asia's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MACSX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MAPTX	1.10	0.07	0.10	0.63	1.56	(1.10)	2.27	(2.70)	8.13
MPACX	1.21	0.04	0.08	2.48	1.86	(1.15)	2.28	(2.27)	9.97
MINDX	0.87	0.03	0.14	(0.38)	1.01	(0.90)	1.76	(1.70)	4.87
MCHFX	1.52	0.12	0.09	0.34	2.05	(1.77)	3.19	(2.99)	11.51

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