Matthews India Correlations

Mutual Funds . USA . 
Fund . Matthews India Fund
MIDNX Fund  USD 30.07  0.52  1.76%   
The current 90-days correlation between Matthews India and Alpskotak India Growth is 0.94 (i.e., Almost no diversification). The correlation of Matthews India 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 India Correlation With Market

Very weak diversification

The correlation between Matthews India Fund and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Matthews India Fund 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 India Fund. 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 board of governors.

Moving together with Matthews Mutual Fund

  0.73MSMLX Matthews Asia SmallPairCorr
  0.78MIJFX Matthews JapanPairCorr
  1.0MINDX Matthews IndiaPairCorr
  0.78MJFOX Matthews JapanPairCorr
  0.9WAINX Wasatch Emerging IndiaPairCorr
  0.9WIINX Wasatch Emerging IndiaPairCorr
  0.96INDAX Alpskotak India GrowthPairCorr
  0.96INFCX Alpskotak India GrowthPairCorr
  0.96INAAX Alpskotak India GrowthPairCorr
  0.95ECGIX Eaton Vance GreaterPairCorr
  0.94ETGIX Eaton Vance GreaterPairCorr
  0.94EGIIX Eaton Vance GreaterPairCorr

Moving against Matthews Mutual Fund

  0.41MCHFX Matthews ChinaPairCorr
  0.41MCSMX Matthews China SmallPairCorr
  0.41MICHX Matthews China SmallPairCorr
  0.41MICFX Matthews ChinaPairCorr
  0.71RQECX Resq Dynamic AllocationPairCorr
  0.7LTFOX Lord Abbett AffiliatedPairCorr
  0.65VTSMX Vanguard Total StockPairCorr
  0.63VFIAX Vanguard 500 IndexPairCorr
  0.63VFINX Vanguard 500 IndexPairCorr
  0.58LLPFX Longleaf PartnersPairCorr
  0.54SCRYX Small Cap CorePairCorr
  0.53FBALX Fidelity BalancedPairCorr
  0.47FEMDX Franklin Emerging MarketPairCorr
  0.42GAB Gabelli Equity TrustPairCorr

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   
HSSCX
+ 1.0
HSSIX
ENPSX
+ 0.78
HSSIX
HSSCX
+ 0.78
ENPSX
MIJFX
+ 0.77
INDIX
  
High negative correlations   
HSSCX
- 0.61
INDIX
HSSIX
- 0.61
INDIX
ENPSX
- 0.57
INDIX
MIJFX
- 0.46
HSSIX
HSSCX
- 0.45
MIJFX
MIJFX
- 0.23
ENPSX

Risk-Adjusted Indicators

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