Matthews Asia Correlations

MITEX Fund

USD 18.71 0.15 0.81%

The current 90-days correlation between Matthews Asia Innovators and Pro Blend Moderate Term is 0.26 (i.e., Modest 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 0.71 (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 services.

Moving together with Matthews Mutual Fund

1.0	MPACX	Matthews Asia Growth	Pair Corr
0.98	MAPTX	Matthews Pacific Tiger	Pair Corr
0.89	MAPIX	Matthews Asia Dividend	Pair Corr
0.98	MASGX	Matthews Asia Esg	Pair Corr
1.0	MATFX	Matthews Asia Innovators	Pair Corr
0.89	MSMLX	Matthews Asia Small	Pair Corr
0.85	MCHFX	Matthews China	Pair Corr
0.92	MCSMX	Matthews China Small	Pair Corr
0.96	MEGMX	Matthews Emerging Markets	Pair Corr
1.0	MIAPX	Matthews Asia Growth	Pair Corr
0.92	MICHX	Matthews China Small	Pair Corr
0.85	MICFX	Matthews China	Pair Corr
0.96	MIEFX	Matthews Emerging Markets	Pair Corr
0.88	MIJFX	Matthews Japan	Pair Corr
0.89	MIPIX	Matthews Asia Dividend	Pair Corr
0.94	MIPTX	Matthews Pacific Tiger	Pair Corr
0.97	MISFX	Matthews Asia Esg	Pair Corr
0.82	MISMX	Matthews Asia Small	Pair Corr
0.88	MJFOX	Matthews Japan	Pair Corr
0.97	PNSIX	T Rowe Price	Pair Corr
0.97	PRASX	T Rowe Price	Pair Corr
0.97	TRZNX	T Rowe Price	Pair Corr
0.98	FSEAX	Fidelity Emerging Asia	Pair Corr
0.72	ASIYX	Invesco Asia Pacific	Pair Corr
0.9	ASISX	Invesco Asia Pacific	Pair Corr
0.61	EKWDX	Wells Fargo Advantage	Pair Corr
0.68	PMPIX	Precious Metals Ultr	Pair Corr
0.68	PMPSX	Precious Metals Ultr	Pair Corr
0.64	VWELX	Vanguard Wellington	Pair Corr
0.87	REBGX	American Funds Global	Pair Corr
0.63	GMVIX	Goldman Sachs Smallmid	Pair Corr
0.88	QMHIX	Aqr Managed Futures	Pair Corr

Related Correlations Analysis

	PBFDX	HFCVX	AUUCX	CAMOX	FWRLX	MSSMX	MSSGX	DISMX	LEAOX	EXBAX
PBFDX		0.84	0.82	0.83	0.65	-0.32	-0.29	0.93	0.89	0.85	PBFDX
HFCVX	0.84		0.9	0.88	0.41	-0.61	-0.63	0.9	0.8	0.89	HFCVX
AUUCX	0.82	0.9		0.9	0.32	-0.44	-0.49	0.86	0.76	0.93	AUUCX
CAMOX	0.83	0.88	0.9		0.27	-0.54	-0.54	0.89	0.84	0.97	CAMOX
FWRLX	0.65	0.41	0.32	0.27		0.06	0.08	0.51	0.52	0.27	FWRLX
MSSMX	-0.32	-0.61	-0.44	-0.54	0.06		0.92	-0.42	-0.37	-0.52	MSSMX
MSSGX	-0.29	-0.63	-0.49	-0.54	0.08	0.92		-0.44	-0.41	-0.51	MSSGX
DISMX	0.93	0.9	0.86	0.89	0.51	-0.42	-0.44		0.95	0.91	DISMX
LEAOX	0.89	0.8	0.76	0.84	0.52	-0.37	-0.41	0.95		0.83	LEAOX
EXBAX	0.85	0.89	0.93	0.97	0.27	-0.52	-0.51	0.91	0.83		EXBAX
	PBFDX	HFCVX	AUUCX	CAMOX	FWRLX	MSSMX	MSSGX	DISMX	LEAOX	EXBAX

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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

EXBAX	+ 0.97	CAMOX
LEAOX	+ 0.95	DISMX
DISMX	+ 0.93	PBFDX
EXBAX	+ 0.93	AUUCX
MSSGX	+ 0.92	MSSMX
EXBAX	+ 0.91	DISMX

High negative correlations

MSSGX	- 0.63	HFCVX
MSSMX	- 0.61	HFCVX
MSSGX	- 0.54	CAMOX
MSSMX	- 0.54	CAMOX
EXBAX	- 0.52	MSSMX
EXBAX	- 0.51	MSSGX

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
PBFDX	0.78	0.01	0.01	0.05	0.99	(0.82)	1.46	(1.99)	4.92
HFCVX	0.53	0.22	0.37	0.55	0.00	(0.67)	1.24	(0.74)	6.17
AUUCX	0.59	0.12	0.12	0.43	0.52	(0.65)	1.11	(1.00)	10.07
CAMOX	1.09	0.52	0.83	0.61	0.00	(1.48)	1.56	(0.94)	28.04
FWRLX	0.64	(0.01)	(0.02)	0.03	0.84	(0.66)	1.12	(1.59)	3.14
MSSMX	1.48	(0.32)	0.00	(0.61)	0.00	0.00	2.46	(3.81)	8.23
MSSGX	1.46	(0.37)	0.00	(0.24)	0.00	0.00	2.47	(3.02)	8.24
DISMX	0.60	0.08	0.07	0.16	0.67	(0.63)	1.24	(1.17)	3.57
LEAOX	0.65	0.12	0.15	0.30	0.44	(0.81)	1.71	(1.00)	3.77
EXBAX	0.36	0.06	0.08	0.22	0.17	(0.47)	0.69	(0.65)	4.72

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