Guinness Atkinson Correlations

GAAEX Fund

USD 5.48 0.01 0.18%

The current 90-days correlation between Guinness Atkinson and Firsthand Alternative Energy is 0.84 (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 Alternative and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guinness Atkinson Alternative 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 Alternative. 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 Guinness Mutual Fund

0.66

AMTOX

Ab All Market

Pair Corr

Moving against Guinness Mutual Fund

0.49	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.5	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.49	LSHEX	Kinetics Spin Off Steady Growth	Pair Corr
0.49	LSHCX	Horizon Spin Off Steady Growth	Pair Corr
0.49	LSHAX	Horizon Spin Off Steady Growth	Pair Corr
0.48	NML	Neuberger Berman Mlp	Pair Corr
0.4	FFRHX	Fidelity Advisor Floating	Pair Corr
0.36	CPLIX	Calamos Phineus Longshort	Pair Corr
0.31	BDJ	Blackrock Enhanced Equity	Pair Corr
0.32	WCPSX	Mobile Telecommunicatio	Pair Corr
0.31	AMGOX	Alger Mid Cap	Pair Corr

Related Correlations Analysis

	ALTEX	PORTX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF
ALTEX		0.74	0.3	0.0	-0.32	0.36	-0.01	0.35	0.48	ALTEX
PORTX	0.74		-0.13	0.0	-0.35	0.68	0.26	0.28	0.31	PORTX
444859BR2	0.3	-0.13		0.0	0.22	-0.53	-0.54	-0.03	0.41	444859BR2
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	AQUI
BRRAY	-0.32	-0.35	0.22	0.0		-0.45	-0.35	-0.4	-0.04	BRRAY
MSTSX	0.36	0.68	-0.53	0.0	-0.45		0.67	0.34	-0.02	MSTSX
LBHIX	-0.01	0.26	-0.54	0.0	-0.35	0.67		0.51	-0.29	LBHIX
ABHYX	0.35	0.28	-0.03	0.0	-0.4	0.34	0.51		-0.05	ABHYX
SCAXF	0.48	0.31	0.41	0.0	-0.04	-0.02	-0.29	-0.05		SCAXF
	ALTEX	PORTX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF

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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

PORTX	+ 0.74	ALTEX
MSTSX	+ 0.68	PORTX
LBHIX	+ 0.67	MSTSX
ABHYX	+ 0.51	LBHIX
SCAXF	+ 0.48	ALTEX
SCAXF	+ 0.41	444859BR2

High negative correlations

LBHIX	- 0.54	444859BR2
MSTSX	- 0.53	444859BR2
MSTSX	- 0.45	BRRAY
ABHYX	- 0.4	BRRAY
LBHIX	- 0.35	BRRAY
BRRAY	- 0.35	PORTX

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
ALTEX	1.32	(0.21)	0.00	(0.08)	0.00	0.00	2.10	(2.74)	7.75
PORTX	0.48	(0.08)	0.00	(0.03)	0.00	0.00	0.93	(1.16)	2.91
444859BR2	1.35	(0.09)	0.00	(0.14)	0.00	0.00	5.93	(5.79)	16.62
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRRAY	1.27	(0.13)	0.00	0.01	0.00	0.00	0.00	(2.98)	34.02
MSTSX	0.49	(0.04)	(0.13)	0.06	0.52	(0.61)	1.21	(1.02)	2.80
LBHIX	0.11	0.01	(0.42)	0.38	0.00	(0.29)	0.24	(0.24)	0.96
ABHYX	0.17	0.00	(0.24)	0.19	0.25	(0.24)	0.34	(0.33)	1.91
SCAXF	0.70	(0.41)	0.00	(0.98)	0.00	0.00	0.00	0.00	23.47

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