Matthews Asian Correlations

MACSX Fund

USD 13.25 0.09 0.68%

The current 90-days correlation between Matthews Asian Growth and Matthews Pacific Tiger is 0.78 (i.e., Poor diversification). The correlation of Matthews Asian 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 Asian Correlation With Market

Modest diversification

The correlation between Matthews Asian Growth and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Matthews Asian Growth 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 Asian Growth. 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 state.

Moving together with Matthews Mutual Fund

0.86	MPACX	Matthews Asia Growth	Pair Corr
0.79	MAPTX	Matthews Pacific Tiger	Pair Corr
0.9	MAPIX	Matthews Asia Dividend	Pair Corr
0.91	MASGX	Matthews Asia Esg	Pair Corr
0.82	MATFX	Matthews Asia Innovators	Pair Corr
0.89	MSMLX	Matthews Asia Small	Pair Corr
0.94	MCDFX	Matthews China Dividend	Pair Corr
0.86	MCHFX	Matthews China	Pair Corr
0.76	MCSMX	Matthews China Small	Pair Corr
0.92	MEGMX	Matthews Emerging Markets	Pair Corr
0.86	MIAPX	Matthews Asia Growth	Pair Corr
0.94	MICDX	Matthews China Dividend	Pair Corr
0.75	MICHX	Matthews China Small	Pair Corr
0.86	MICFX	Matthews China	Pair Corr
1.0	MICSX	Matthews Asian Growth	Pair Corr
0.92	MIEFX	Matthews Emerging Markets	Pair Corr
0.65	MIDNX	Matthews India	Pair Corr
0.65	MINDX	Matthews India	Pair Corr
0.91	MIPIX	Matthews Asia Dividend	Pair Corr
0.79	MIPTX	Matthews Pacific Tiger	Pair Corr
0.82	MITEX	Matthews Asia Innovators	Pair Corr
0.91	MISFX	Matthews Asia Esg	Pair Corr
0.89	MISMX	Matthews Asia Small	Pair Corr
0.98	PNSIX	T Rowe Price	Pair Corr
0.97	PRASX	T Rowe Price	Pair Corr
0.98	TRZNX	T Rowe Price	Pair Corr
0.82	FSEAX	Fidelity Emerging Asia	Pair Corr
0.77	ASIYX	Invesco Asia Pacific	Pair Corr
0.77	ASISX	Invesco Asia Pacific	Pair Corr

Moving against Matthews Mutual Fund

0.76	FTCAX	Templeton Strained Bond	Pair Corr
0.67	DNAIX	Dunham Appreciation	Pair Corr
0.57	BXSL	Blackstone Secured	Pair Corr
0.31	LIFIX	Lord Abbett Inflation	Pair Corr
0.31	PHSIX	Pimco High Yield	Pair Corr

Related Correlations Analysis

	MAPTX	MCHFX	MAPIX	MAKOX	MPACX
MAPTX		0.86	0.95	-0.81	0.93	MAPTX
MCHFX	0.86		0.88	-0.58	0.82	MCHFX
MAPIX	0.95	0.88		-0.68	0.96	MAPIX
MAKOX	-0.81	-0.58	-0.68		-0.69	MAKOX
MPACX	0.93	0.82	0.96	-0.69		MPACX
	MAPTX	MCHFX	MAPIX	MAKOX	MPACX

Click cells to compare fundamentals

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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

MPACX	+ 0.96	MAPIX
MAPIX	+ 0.95	MAPTX
MPACX	+ 0.93	MAPTX
MAPIX	+ 0.88	MCHFX
MCHFX	+ 0.86	MAPTX
MPACX	+ 0.82	MCHFX

High negative correlations

MAKOX	- 0.81	MAPTX
MPACX	- 0.69	MAKOX
MAKOX	- 0.68	MAPIX
MAKOX	- 0.58	MCHFX

Risk-Adjusted Indicators

There is a big difference between Matthews Mutual Fund performing well and Matthews Asian 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 Asian'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
MAPTX	0.79	(0.24)	0.00	(0.72)	0.00	0.00	1.45	(1.94)	9.00
MCHFX	1.42	(0.17)	0.00	(0.68)	0.00	0.00	2.69	(3.21)	11.56
MAPIX	0.59	(0.15)	0.00	(0.46)	0.00	0.00	1.17	(1.49)	3.80
MAKOX	0.79	0.12	0.10	(0.49)	0.73	(1.06)	1.79	(1.49)	4.32
MPACX	0.71	(0.14)	0.00	(0.41)	0.00	0.00	1.32	(1.68)	4.26

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