Guinness Atkinson Correlations
| IWIRX Fund | USD 56.56 0.53 0.95% |
The current 90-days correlation between Guinness Atkinson Global and Guinness Atkinson Asia is 0.37 (i.e., Weak 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 Global 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 Global and DJI in the same portfolio, assuming nothing else is changed.
Guinness |
Moving together with Guinness Mutual Fund
| 1.0 | GINNX | Guinness Atkinson Global | PairCorr |
| 0.81 | GAAEX | Guinness Atkinson | PairCorr |
| 0.81 | FNFPX | American Funds New | PairCorr |
| 0.81 | FFPNX | American Funds New | PairCorr |
| 0.83 | NPFCX | New Perspective | PairCorr |
| 0.72 | ANWPX | New Perspective | PairCorr |
| 0.82 | NPFFX | New Perspective | PairCorr |
| 0.82 | CNPAX | New Perspective | PairCorr |
| 0.82 | CNPEX | New Perspective | PairCorr |
| 0.82 | CNPFX | New Perspective | PairCorr |
| 0.83 | CNPCX | New Perspective | PairCorr |
| 0.83 | RNPAX | New Perspective | PairCorr |
| 0.81 | XDSMX | Dreyfus Strategic | PairCorr |
| 0.83 | XNXJX | Nuveen New Jersey | PairCorr |
| 0.72 | NXJ | Nuveen New Jersey | PairCorr |
| 0.81 | XNBHX | Neuberger Berman Int | PairCorr |
Moving against Guinness Mutual Fund
| 0.75 | GRZZX | Grizzly Short | PairCorr |
| 0.51 | CRDTX | Griffin Inst Access | PairCorr |
| 0.32 | CRSCX | Credit Suisse Modity | PairCorr |
Related Correlations Analysis
| 0.83 | 0.14 | -0.38 | -0.08 | IASMX | ||
| 0.83 | -0.06 | -0.12 | 0.06 | ICHKX | ||
| 0.14 | -0.06 | 0.28 | 0.55 | GAGEX | ||
| -0.38 | -0.12 | 0.28 | 0.73 | GAAEX | ||
| -0.08 | 0.06 | 0.55 | 0.73 | PARWX | ||
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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
| High negative correlations
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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.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| IASMX | 0.90 | 0.17 | 0.17 | 0.37 | 1.03 | 1.83 | 5.94 | |||
| ICHKX | 1.08 | 0.17 | 0.19 | (17.35) | 1.16 | 2.51 | 8.55 | |||
| GAGEX | 0.76 | (0.08) | 0.00 | (0.62) | 0.00 | 1.24 | 4.87 | |||
| GAAEX | 0.84 | (0.16) | 0.00 | 1.18 | 0.00 | 1.37 | 4.12 | |||
| PARWX | 0.71 | (0.19) | 0.00 | 1.15 | 0.00 | 1.18 | 6.26 |