Guinness Atkinson Correlations

ICHKX Fund

USD 15.63 0.20 1.26%

The current 90-days correlation between Guinness Atkinson China and Guinness Atkinson Asia is 0.85 (i.e., Very poor 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

Weak diversification

The correlation between Guinness Atkinson China and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guinness Atkinson China 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, which includes a position in Guinness Atkinson China. 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 inflation.

Moving together with Guinness Mutual Fund

0.94	IASMX	Guinness Atkinson Asia	Pair Corr
0.87	GAAEX	Guinness Atkinson	Pair Corr
0.72	GAGEX	Guinness Atkinson Global	Pair Corr
0.97	FHKTX	Fidelity China Region	Pair Corr
0.97	FCHKX	Fidelity China Region	Pair Corr
0.97	FHKAX	Fidelity China Region	Pair Corr
0.97	FHKIX	Fidelity China Region	Pair Corr
0.97	FIQFX	Fidelity China Region	Pair Corr
0.97	FHKCX	Fidelity China Region	Pair Corr
0.99	MICFX	Matthews China	Pair Corr
0.99	MCHFX	Matthews China	Pair Corr
0.91	FTYPX	Fidelity Freedom Index	Pair Corr
0.91	FFBTX	Fidelity Freedom Blend	Pair Corr
0.83	GAAVX	Gmo Alternative Allo	Pair Corr
0.87	GCAVX	Gmo Small Cap	Pair Corr
0.73	GQLOX	Gmo Quality Fund	Pair Corr
0.9	GMCQX	Gmo Equity Allocation	Pair Corr
0.9	JSVSX	Perkins Select Value	Pair Corr
0.89	ICLLX	Transamerica Asset	Pair Corr
0.88	MUBFX	Mainstay Map Equity	Pair Corr
0.9	TIISX	Tiaa Cref Intl	Pair Corr
0.68	TEGIX	Mid Cap Growth	Pair Corr
0.84	SADIX	Wells Fargo Ultra	Pair Corr
0.77	FSLVX	Fidelity Stock Selector	Pair Corr
0.88	PJERX	Prudential Jennison	Pair Corr
0.91	RMYAX	Multi Strategy Income	Pair Corr
0.89	GAUAX	Gabelli Utilities	Pair Corr
0.85	RYMCX	Royce Micro Cap	Pair Corr
0.81	JMVYX	Jpmorgan Mid Cap	Pair Corr

Related Correlations Analysis

	IASMX	USCOX	MCHFX	NGCAX	EVCGX
IASMX		0.0	0.94	0.9	0.9	IASMX
USCOX	0.0		0.0	0.0	0.0	USCOX
MCHFX	0.94	0.0		0.98	0.98	MCHFX
NGCAX	0.9	0.0	0.98		0.99	NGCAX
EVCGX	0.9	0.0	0.98	0.99		EVCGX
	IASMX	USCOX	MCHFX	NGCAX	EVCGX

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

EVCGX	+ 0.99	NGCAX
NGCAX	+ 0.98	MCHFX
EVCGX	+ 0.98	MCHFX
MCHFX	+ 0.94	IASMX
NGCAX	+ 0.9	IASMX
EVCGX	+ 0.9	IASMX

High negative correlations

EVCGX	- 0.0	USCOX
NGCAX	- 0.0	USCOX
MCHFX	- 0.0	USCOX
USCOX	- 0.0	IASMX

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
IASMX	0.62	0.11	0.08	0.30	0.51	(0.68)	1.39	(1.05)	4.07
USCOX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MCHFX	0.84	0.20	0.16	0.41	0.70	(1.05)	1.94	(1.32)	5.72
NGCAX	0.79	0.10	0.06	0.27	0.75	(0.93)	2.08	(1.65)	5.07
EVCGX	0.73	0.07	0.04	0.21	0.68	(0.90)	1.77	(1.23)	5.06

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC