Guinness Atkinson Correlations

The current 90-days correlation between Guinness Atkinson Global and Guinness Atkinson Global is -0.22 (i.e., Very good diversification). The correlation of Guinness Atkinson 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.

Guinness Atkinson Correlation With Market

Poor diversification

The correlation between Guinness Atkinson Global and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guinness Atkinson Global and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios. 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 producer price index.

Moving together with Guinness Mutual Fund

0.71	IASMX	Guinness Atkinson Asia	Pair Corr
0.8	IWIRX	Guinness Atkinson Global	Pair Corr
0.78	GAAEX	Guinness Atkinson	Pair Corr
0.92	NPFCX	New Perspective	Pair Corr
0.8	ANWPX	New Perspective	Pair Corr
0.8	NPFFX	New Perspective	Pair Corr
0.8	CNPAX	New Perspective	Pair Corr
0.92	CNPEX	New Perspective	Pair Corr
0.92	CNPCX	New Perspective	Pair Corr
0.92	RNPAX	New Perspective	Pair Corr
0.77	PFN	Pimco Income Strategy	Pair Corr
0.76	CIF	Mfs Intermediate High	Pair Corr
0.76	VSTSX	Vanguard Total Stock	Pair Corr
0.63	JPDCX	Jpmorgan Preferred And	Pair Corr
0.78	POGRX	Primecap Odyssey Growth	Pair Corr
0.87	DSPIX	Dreyfus Institutional	Pair Corr
0.81	RPFFX	Royce Premier	Pair Corr
0.75	BRAPX	Blackrock Aggressive	Pair Corr
0.62	AGVSX	Invesco Government	Pair Corr

Moving against Guinness Mutual Fund

0.4

XNBHX

Neuberger Berman Int

Pair Corr

Related Correlations Analysis

	IWIRX	SDLAX	SPIIX	CLXRX	JDNAX
IWIRX		0.84	0.71	0.72	0.91	IWIRX
SDLAX	0.84		0.9	0.9	0.97	SDLAX
SPIIX	0.71	0.9		1.0	0.87	SPIIX
CLXRX	0.72	0.9	1.0		0.88	CLXRX
JDNAX	0.91	0.97	0.87	0.88		JDNAX
	IWIRX	SDLAX	SPIIX	CLXRX	JDNAX

Risk-Adjusted Indicators

There is a big difference between Guinness Mutual Fund performing well and Guinness Atkinson 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 Guinness Atkinson'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
IWIRX	0.60	0.07	(0.04)	(0.33)	0.69	(0.60)	1.33	(1.10)	3.25
SDLAX	0.50	0.14	0.08	(0.94)	0.29	(0.63)	1.11	(0.68)	2.61
SPIIX	0.47	0.05	0.05	0.15	0.34	(0.56)	1.12	(0.80)	2.71
CLXRX	0.48	0.13	0.05	(0.81)	0.36	(0.56)	1.12	(0.79)	2.71
JDNAX	0.53	0.11	0.02	(0.70)	0.42	(0.64)	1.36	(0.78)	2.74

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