Matthews Asia Correlations

MIAPX Fund

USD 23.13 0.52 2.30%

The current 90-days correlation between Matthews Asia Growth and Matthews Asia Dividend is 0.96 (i.e., Almost no diversification). 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

Significant diversification

The correlation between Matthews Asia Growth and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Matthews Asia Growth 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 Growth. 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 american community survey.

Moving together with Matthews Mutual Fund

0.83	VPADX	Vanguard Pacific Stock	Pair Corr
0.83	VPKIX	Vanguard Pacific Stock	Pair Corr
0.84	VPACX	Vanguard Pacific Stock	Pair Corr
0.86	MIPIX	Matthews Asia Dividend	Pair Corr
0.86	MAPIX	Matthews Asia Dividend	Pair Corr
0.99	FPBFX	Fidelity Pacific Basin	Pair Corr
1.0	MPACX	Matthews Asia Growth	Pair Corr
0.76	RYMEX	Commodities Strategy	Pair Corr
0.75	RYMJX	Commodities Strategy	Pair Corr
0.76	RYMBX	Commodities Strategy	Pair Corr
0.86	BRUFX	Bruce Fund Bruce	Pair Corr
0.79	SPGSX	State Street Premier	Pair Corr
0.8	KF	Korea Closed	Pair Corr
0.75	CEE	Central Europe Russia	Pair Corr
0.91	RIRAX	Capital Income Builder	Pair Corr
0.73	XEDDX	Morgan Stanley Emerging	Pair Corr
0.82	BAC	Bank of America	Pair Corr
0.7	IBM	International Business	Pair Corr
0.77	HPQ	HP Inc	Pair Corr
0.76	AA	Alcoa Corp Earnings Call This Week	Pair Corr
0.76	PFE	Pfizer Inc	Pair Corr
0.85	MMM	3M Company	Pair Corr
0.66	JPM	JPMorgan Chase	Pair Corr
0.67	AXP	American Express	Pair Corr
0.9	GE	GE Aerospace	Pair Corr
0.64	MSFT	Microsoft	Pair Corr
0.69	BA	Boeing	Pair Corr

Moving against Matthews Mutual Fund

0.31

Verizon Communications

Pair Corr

Related Correlations Analysis

	MIPIX	MIPTX	WEMIX	MICFX	PJGQX
MIPIX		0.87	0.0	0.77	0.0	MIPIX
MIPTX	0.87		0.0	0.86	0.0	MIPTX
WEMIX	0.0	0.0		0.0	0.0	WEMIX
MICFX	0.77	0.86	0.0		0.0	MICFX
PJGQX	0.0	0.0	0.0	0.0		PJGQX
	MIPIX	MIPTX	WEMIX	MICFX	PJGQX

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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

MIPTX	+ 0.87	MIPIX
MICFX	+ 0.86	MIPTX
MICFX	+ 0.77	MIPIX
WEMIX	+ 0.0	MIPIX
PJGQX	+ 0.0	MIPIX
WEMIX	+ 0.0	MIPTX

High negative correlations

PJGQX	- 0.0	MICFX
PJGQX	- 0.0	WEMIX
MICFX	- 0.0	WEMIX
PJGQX	- 0.0	MIPTX
WEMIX	- 0.0	MIPTX
PJGQX	- 0.0	MIPIX

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
MIPIX	0.85	0.09	0.14	0.81	1.18	(0.97)	1.87	(1.73)	6.98
MIPTX	1.10	0.07	0.10	0.61	1.58	(1.08)	2.27	(2.70)	8.08
WEMIX	1.56	(0.15)	0.00	1.08	0.00	0.00	2.72	(3.50)	12.74
MICFX	1.51	0.11	0.09	0.34	2.05	(1.76)	3.20	(2.93)	11.59
PJGQX	1.65	(0.22)	0.00	1.58	0.00	0.00	2.61	(3.95)	14.58

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