Matthews China Correlations

Mutual Funds . USA . 
Fund . Matthews China Small
MCSMX Fund  USD 9.31  0.07  0.75%   
The current 90-days correlation between Matthews China Small and Matthews China Dividend is 0.92 (i.e., Almost no diversification). The correlation of Matthews China 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 China Correlation With Market

Modest diversification

The correlation between Matthews China Small and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Matthews China Small 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 China Small. 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 population.

Moving together with Matthews Mutual Fund

  0.76MACSX Matthews Asian GrowthPairCorr
  0.86MCDFX Matthews China DividendPairCorr
  0.82MCHFX Matthews ChinaPairCorr
  0.86MICDX Matthews China DividendPairCorr
  0.8MICHX Matthews China SmallPairCorr
  0.64MICFX Matthews ChinaPairCorr
  0.71MICSX Matthews Asian GrowthPairCorr
  0.87FHKTX Fidelity China RegionPairCorr
  0.75FCHKX Fidelity China RegionPairCorr
  0.87FHKAX Fidelity China RegionPairCorr
  0.87FHKIX Fidelity China RegionPairCorr
  0.88FIQFX Fidelity China RegionPairCorr
  0.87FHKCX Fidelity China RegionPairCorr
  0.69VTISX Vanguard Total InterPairCorr

Moving against Matthews Mutual Fund

  0.34TACWX Templeton China WorldPairCorr

Related Correlations Analysis

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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   
MCHFX
+ 0.93
MCDFX
MSMLX
+ 0.78
MATFX
MCHFX
+ 0.77
MATFX
MATFX
+ 0.74
MCDFX
MCHFX
+ 0.5
MSMLX
MSMLX
+ 0.41
MCDFX
  
High negative correlations   
BGAFX
- 0.62
MCHFX
BGAFX
- 0.46
MCDFX
BGAFX
- 0.21
MATFX
BGAFX
- 0.16
MSMLX

Risk-Adjusted Indicators

There is a big difference between Matthews Mutual Fund performing well and Matthews China 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 China'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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