Matthews Emerging Correlations

MIEFX Fund

USD 13.18 0.16 1.20%

The current 90-days correlation between Matthews Emerging Markets and Europac Gold Fund is 0.06 (i.e., Significant diversification). The correlation of Matthews Emerging 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 Emerging Correlation With Market

Average diversification

The correlation between Matthews Emerging Markets and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Matthews Emerging Markets 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 Emerging Markets. 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 census.

Moving together with Matthews Mutual Fund

0.67	MPACX	Matthews Asia Growth	Pair Corr
0.61	MACSX	Matthews Asian Growth	Pair Corr
0.7	MAPIX	Matthews Asia Dividend	Pair Corr
0.98	MASGX	Matthews Asia Esg	Pair Corr
0.62	MATFX	Matthews Asia Innovators	Pair Corr
0.64	MCDFX	Matthews China Dividend	Pair Corr
0.72	MCHFX	Matthews China	Pair Corr
0.72	MEGMX	Matthews Emerging Markets	Pair Corr
0.67	MIAPX	Matthews Asia Growth	Pair Corr
0.64	MICDX	Matthews China Dividend	Pair Corr
0.7	MICFX	Matthews China	Pair Corr
0.61	MICSX	Matthews Asian Growth	Pair Corr
0.7	MIPIX	Matthews Asia Dividend	Pair Corr
0.65	MITEX	Matthews Asia Innovators	Pair Corr
0.65	MISFX	Matthews Asia Esg	Pair Corr
0.74	VEMAX	Vanguard Emerging Markets	Pair Corr
0.68	VEIEX	Vanguard Emerging Markets	Pair Corr
0.74	VEMIX	Vanguard Emerging Markets	Pair Corr
0.73	VEMRX	Vanguard Emerging Markets	Pair Corr
0.73	FWWNX	American Funds New	Pair Corr
0.73	FNFWX	American Funds New	Pair Corr
0.76	NEWFX	New World Fund	Pair Corr
0.69	NWFFX	New World Fund	Pair Corr
0.72	NEWCX	New World Fund	Pair Corr
0.72	ODVYX	Oppenheimer Developing	Pair Corr

Moving against Matthews Mutual Fund

0.5

TSDDX

Touchstone Funds

Pair Corr

Related Correlations Analysis

	EPGFX	FGDCX	FGDIX	MXKJX	GLDAX	AGGWX	FEGOX	GLRBX
EPGFX		0.86	0.85	-0.04	0.86	0.88	0.9	0.67	EPGFX
FGDCX	0.86		1.0	-0.17	0.99	0.99	0.98	0.52	FGDCX
FGDIX	0.85	1.0		-0.17	0.99	0.99	0.98	0.51	FGDIX
MXKJX	-0.04	-0.17	-0.17		-0.18	-0.21	-0.19	0.17	MXKJX
GLDAX	0.86	0.99	0.99	-0.18		0.98	0.99	0.53	GLDAX
AGGWX	0.88	0.99	0.99	-0.21	0.98		0.99	0.54	AGGWX
FEGOX	0.9	0.98	0.98	-0.19	0.99	0.99		0.57	FEGOX
GLRBX	0.67	0.52	0.51	0.17	0.53	0.54	0.57		GLRBX
	EPGFX	FGDCX	FGDIX	MXKJX	GLDAX	AGGWX	FEGOX	GLRBX

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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

FGDIX	+ 1.0	FGDCX
GLDAX	+ 0.99	FGDCX
AGGWX	+ 0.99	FGDCX
GLDAX	+ 0.99	FGDIX
AGGWX	+ 0.99	FGDIX
FEGOX	+ 0.99	GLDAX

High negative correlations

AGGWX	- 0.21	MXKJX
FEGOX	- 0.19	MXKJX
GLDAX	- 0.18	MXKJX
MXKJX	- 0.17	FGDIX
MXKJX	- 0.17	FGDCX
MXKJX	- 0.04	EPGFX

Risk-Adjusted Indicators

There is a big difference between Matthews Mutual Fund performing well and Matthews Emerging 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 Emerging'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
EPGFX	1.49	(0.10)	0.00	(0.25)	0.00	0.00	3.28	(3.15)	8.55
FGDCX	1.39	(0.03)	(0.04)	0.00	1.88	(1.44)	2.68	(2.93)	7.99
FGDIX	1.39	(0.02)	(0.03)	0.01	1.87	(1.45)	2.69	(2.96)	8.02
MXKJX	1.00	0.07	0.00	0.44	2.54	(1.16)	1.42	(0.91)	26.05
GLDAX	1.31	(0.08)	0.00	(0.10)	0.00	0.00	2.79	(2.88)	8.37
AGGWX	1.34	(0.02)	(0.04)	(0.01)	1.83	(1.44)	2.88	(3.07)	8.48
FEGOX	1.32	(0.09)	0.00	(0.11)	0.00	0.00	2.83	(3.02)	7.79
GLRBX	0.40	(0.01)	(0.09)	0.01	0.68	(0.37)	0.63	(0.83)	3.20

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