Guinness Atkinson Correlations

Mutual Funds . USA . 
Fund . Guinness Atkinson China
ICHKX Fund  USD 12.89  0.32  2.55%   
The current 90-days correlation between Guinness Atkinson China and Guinness Atkinson Asia is 0.9 (i.e., Almost no 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

Significant diversification

The correlation between Guinness Atkinson China and DJI is 0.04 (i.e., Significant 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 industry.

Moving together with Guinness Mutual Fund

  0.73GINNX Guinness Atkinson GlobalPairCorr
  0.94IASMX Guinness Atkinson AsiaPairCorr
  0.73IWIRX Guinness Atkinson GlobalPairCorr
  0.98FHKTX Fidelity China RegionPairCorr
  0.98FCHKX Fidelity China RegionPairCorr
  0.98FHKAX Fidelity China RegionPairCorr
  0.98FHKIX Fidelity China RegionPairCorr
  0.96FIQFX Fidelity China RegionPairCorr
  0.98FHKCX Fidelity China RegionPairCorr
  0.99MICFX Matthews ChinaPairCorr
  0.99MCHFX Matthews ChinaPairCorr
  0.61DXQLX Direxion Monthly NasdaqPairCorr
  0.99MCSMX Matthews China SmallPairCorr
  0.65FFALX Franklin Founding FundsPairCorr
  0.61PARAX T Rowe PricePairCorr
  0.62THOPX Thompson BondPairCorr

Related Correlations Analysis

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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.

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