Matthews Asia Correlations

Mutual Funds . USA . 
Fund . Matthews Asia Innovators
MITEX Fund  USD 13.09  0.01  0.08%   
The current 90-days correlation between Matthews Asia Innovators and Matthews Asia Growth is 0.98 (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

Poor diversification

The correlation between Matthews Asia Innovators and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Matthews Asia Innovators 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 Innovators. 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 income.

Moving together with Matthews Mutual Fund

  0.97MPACX Matthews Asia GrowthPairCorr
  0.99MAPTX Matthews Pacific TigerPairCorr
  0.87MAPIX Matthews Asia DividendPairCorr
  0.98MASGX Matthews Asia EsgPairCorr
  1.0MATFX Matthews Asia InnovatorsPairCorr
  0.91MSMLX Matthews Asia SmallPairCorr
  0.61MCDFX Matthews China DividendPairCorr
  0.85MCHFX Matthews ChinaPairCorr
  0.75MCSMX Matthews China SmallPairCorr
  0.98MEGMX Matthews Emerging MarketsPairCorr
  0.97MIAPX Matthews Asia GrowthPairCorr
  0.61MICDX Matthews China DividendPairCorr
  0.75MICHX Matthews China SmallPairCorr
  0.85MICFX Matthews ChinaPairCorr
  0.98MIEFX Matthews Emerging MarketsPairCorr
  0.78MIJFX Matthews JapanPairCorr
  0.87MIPIX Matthews Asia DividendPairCorr
  0.99MIPTX Matthews Pacific TigerPairCorr
  0.91MISFX Matthews Asia EsgPairCorr
  0.91MISMX Matthews Asia SmallPairCorr
  0.79MJFOX Matthews JapanPairCorr
  0.89PNSIX T Rowe PricePairCorr
  0.89PRASX T Rowe PricePairCorr
  0.89TRZNX T Rowe PricePairCorr
  0.85FSEAX Fidelity Emerging AsiaPairCorr
  0.97ASIYX Invesco Asia PacificPairCorr
  0.97ASISX Invesco Asia PacificPairCorr
  0.71VSTSX Vanguard Total StockPairCorr
  0.71VSMPX Vanguard Total StockPairCorr
  0.71VITSX Vanguard Total StockPairCorr
  0.72VFFSX Vanguard 500 IndexPairCorr
  0.72VFIAX Vanguard 500 IndexPairCorr
  0.82VTISX Vanguard Total InterPairCorr
  0.82VTSNX Vanguard Total InterPairCorr
  0.82VTPSX Vanguard Total InterPairCorr
  0.72VINIX Vanguard InstitutionalPairCorr

Moving against Matthews Mutual Fund

  0.31MICSX Matthews Asian GrowthPairCorr
  0.55UGSDX Us Government SecuritiesPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.

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