China Fund Correlations

CHN Fund

USD 11.39 0.21 1.88%

The current 90-days correlation between China Fund and Blackrock Muniholdings Quality is 0.07 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as China Fund moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if China Fund moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

China Fund Correlation With Market

Average diversification

The correlation between China Fund and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding China Fund and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in China Fund. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with China Fund

0.66

NHS

Neuberger Berman High

Pair Corr

Moving against China Fund

0.72	SMAPX	Salient Mlp Energy	Pair Corr
0.7	DBFRX	Doubleline Floating Rate	Pair Corr
0.68	VLPAX	Virtus Select Mlp	Pair Corr
0.67	LRRVX	Floating Rate	Pair Corr
0.67	LGRAX	Lord Abbett Investment	Pair Corr
0.66	ATOIX	Alpine Ultra Short	Pair Corr
0.65	TSDIX	Touchstone Ultra Short	Pair Corr
0.64	AQMIX	Aqr Managed Futures	Pair Corr
0.63	RPIEX	T Rowe Price	Pair Corr
0.61	BXSL	Blackstone Secured	Pair Corr
0.6	WWACX	Westwood Alternative	Pair Corr
0.57	MWCBX	Metropolitan West Porate	Pair Corr
0.54	ADNIX	Amer Beacon Ark	Pair Corr
0.53	ESDIX	Ashmore Emerging Markets	Pair Corr
0.53	BIVSX	Balter Invenomic	Pair Corr
0.53	HILFX	Hennessy Large Cap Steady Growth	Pair Corr
0.49	RMMGX	Short Term Bond	Pair Corr
0.48	ZVNBX	Zevenbergen Growth	Pair Corr
0.47	DLINX	Doubleline Flexible	Pair Corr
0.44	AIO	Virtus Allianzgi Art	Pair Corr
0.43	CTIGX	Calamos Timpani Smid	Pair Corr
0.34	MURSX	Msif Real Estate	Pair Corr
0.71	EGLAX	Eagle Mlp Strategy	Pair Corr
0.7	EMPIX	Ambassador Fund	Pair Corr
0.7	SPNNX	Invesco Steelpath Mlp	Pair Corr
0.69	CMNIX	Calamos Market Neutral	Pair Corr
0.68	QSPRX	Aqr Style Premia	Pair Corr
0.68	DFCMX	Dfa Calfrna Shrt	Pair Corr
0.67	FSAWX	Fidelity Sai Convertible	Pair Corr
0.66	USIAX	Ubs Ultra Short	Pair Corr
0.66	JPHRX	Jpmorgan Floating Rate	Pair Corr
0.66	AMFIX	Aama Income Fund	Pair Corr
0.61	AIWEX	World Energy	Pair Corr
0.61	MCRTX	Morgan Stanley Multi	Pair Corr
0.6	MSSMX	Small Pany Growth	Pair Corr
0.58	MDHCX	Mainstay Short Duration	Pair Corr

Related Correlations Analysis

	AJMPF	MXE	MMU	MUE	KF	JEQ	SWZ	GF	TWN	IFN
AJMPF		-0.08	0.28	0.72	-0.06	0.25	-0.26	0.21	-0.61	0.39	AJMPF
MXE	-0.08		0.4	0.08	0.79	0.4	0.76	0.88	0.19	0.72	MXE
MMU	0.28	0.4		0.77	0.43	0.69	0.43	0.51	-0.33	0.78	MMU
MUE	0.72	0.08	0.77		0.08	0.59	0.01	0.31	-0.48	0.62	MUE
KF	-0.06	0.79	0.43	0.08		0.18	0.87	0.83	-0.11	0.75	KF
JEQ	0.25	0.4	0.69	0.59	0.18		0.18	0.4	0.05	0.51	JEQ
SWZ	-0.26	0.76	0.43	0.01	0.87	0.18		0.75	0.0	0.63	SWZ
GF	0.21	0.88	0.51	0.31	0.83	0.4	0.75		-0.06	0.83	GF
TWN	-0.61	0.19	-0.33	-0.48	-0.11	0.05	0.0	-0.06		-0.35	TWN
IFN	0.39	0.72	0.78	0.62	0.75	0.51	0.63	0.83	-0.35		IFN
	AJMPF	MXE	MMU	MUE	KF	JEQ	SWZ	GF	TWN	IFN

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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

GF	+ 0.88	MXE
SWZ	+ 0.87	KF
GF	+ 0.83	KF
IFN	+ 0.83	GF
KF	+ 0.79	MXE
IFN	+ 0.78	MMU

High negative correlations

TWN	- 0.61	AJMPF
TWN	- 0.48	MUE
IFN	- 0.35	TWN
TWN	- 0.33	MMU
SWZ	- 0.26	AJMPF
TWN	- 0.11	KF

Risk-Adjusted Indicators

There is a big difference between China Fund performing well and China Fund 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 China Fund'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
AJMPF	1.18	(0.17)	0.00	(0.36)	0.00	0.00	0.00	0.00	38.00
MXE	0.82	(0.18)	0.00	(1.59)	0.00	0.00	1.71	(1.71)	5.14
MMU	0.52	(0.07)	0.00	(0.37)	0.00	0.00	0.98	(1.23)	3.10
MUE	0.60	(0.04)	0.00	(0.15)	0.00	0.00	0.89	(1.35)	3.18
KF	0.95	(0.17)	0.00	(0.75)	0.00	0.00	2.18	(2.49)	5.03
JEQ	0.76	(0.12)	0.00	(0.38)	0.00	0.00	1.41	(1.71)	4.68
SWZ	0.77	(0.04)	0.00	(0.19)	0.00	0.00	1.39	(1.69)	5.16
GF	0.74	(0.15)	0.00	(0.69)	0.00	0.00	1.34	(1.64)	4.97
TWN	0.99	0.01	0.01	0.09	1.19	(1.04)	2.08	(2.08)	5.36
IFN	0.78	(0.19)	0.00	(0.98)	0.00	0.00	1.70	(2.17)	5.08

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