Matthews Asia Correlations

MINV ETF

USD 51.29 1.27 2.54%

The current 90-days correlation between Matthews Asia Innovators and RockCreek Global Equality is 0.84 (i.e., Very poor diversification).The correlation coefficient ranges from -1 to +1 and quantifies how closely the stock co-moves with paired assets.

Market Correlation Context: Matthews Asia

Weak diversification

For the present investment horizon, the measured correlation between Matthews Asia and Dow Jones stands at 0.5, or Weak diversification. A 0.5 reading means Matthews Asia and Dow Jones have partial price overlap, providing moderate risk reduction when paired.

Sector and factor exposure at the portfolio level determines how concentrated or diversified the allocation is. Allocation context can improve visibility into portfolio balance. Portfolio construction should account for both standalone risk and marginal risk contribution. Broader economic conditions can influence Matthews Asia Innovators's ETF valuation - related indicators include signals in persons.

Moving together with Matthews Asia ETF

0.65	AAXJ	iShares MSCI All	Pair Corr
0.95	AIA	iShares Asia 50	Pair Corr
0.68	GMF	SPDR SAMPP Emerging	Pair Corr
0.87	FLAX	Franklin FTSE Asia	Pair Corr
0.9	FPA	First Trust Asia	Pair Corr
0.89	SIXD	AllianzIM Equity 6	Pair Corr
0.61	ICPY	Tweedy Browne	Pair Corr
0.81	THTA	SoFi Enhanced Yield	Pair Corr
0.92	PAPR	Innovator SAMPP 500	Pair Corr
0.84	HAIL	SPDR SAMPP Kensho	Pair Corr
0.7	LDUR	PIMCO Enhanced Low	Pair Corr
0.7	DRGN	Themes China Generative	Pair Corr
0.82	EDGU	3EDGE Dynamic Equity	Pair Corr

Moving Against Matthews Asia ETF

0.5	VXX	iPath Series B	Pair Corr
0.5	VIXY	ProShares VIX Short	Pair Corr
0.41	METD	Direxion Daily META	Pair Corr
0.35	VIXM	ProShares VIX Mid	Pair Corr
0.34	VXZ	iPath Series B	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.81	0.55	0.65	-0.48	0.62	0.2	0.57	-0.2	-0.89	META
MSFT	0.81		0.65	0.34	-0.61	0.34	0.25	0.52	-0.62	-0.74	MSFT
UBER	0.55	0.65		0.08	-0.49	0.17	0.39	0.25	-0.5	-0.49	UBER
F	0.65	0.34	0.08		0.0	0.85	0.17	0.46	0.35	-0.7	F
T	-0.48	-0.61	-0.49	0.0		-0.1	0.28	-0.65	0.5	0.5	T
A	0.62	0.34	0.17	0.85	-0.1		0.22	0.59	0.25	-0.69	A
CRM	0.2	0.25	0.39	0.17	0.28	0.22		-0.36	-0.2	-0.19	CRM
JPM	0.57	0.52	0.25	0.46	-0.65	0.59	-0.36		-0.09	-0.59	JPM
MRK	-0.2	-0.62	-0.5	0.35	0.5	0.25	-0.2	-0.09		0.14	MRK
XOM	-0.89	-0.74	-0.49	-0.7	0.5	-0.69	-0.19	-0.59	0.14		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

A	+ 0.85	F
MSFT	+ 0.81	META
F	+ 0.65	META
UBER	+ 0.65	MSFT
A	+ 0.62	META
JPM	+ 0.59	A

High negative correlations

XOM	- 0.89	META
XOM	- 0.74	MSFT
XOM	- 0.7	F
XOM	- 0.69	A
JPM	- 0.65	T
MRK	- 0.62	MSFT

Matthews Asia Competition Risk-Adjusted Indicators

Strong recent returns in Matthews Asia ETF do not always mean Matthews Asia ETF is outperforming peers on business quality. Reviewing Matthews Asia's risk-adjusted indicators gives a clearer view of whether returns are being earned efficiently. These indicators are quantitative in nature and measure volatility and risk-adjusted expected returns across different positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.75	-0.20	0.00	-0.16	0.00	0.00	2.61	-3.83	15.22
MSFT	1.36	-0.03	0.00	-0.03	0.00	0.00	3.11	-3.21	8.57
UBER	1.72	-0.02	0.00	-0.02	0.00	0.00	3.61	-3.60	8.83
F	1.53	-0.18	0.00	-0.12	0.00	0.00	4.11	-3.20	9.26
T	1.18	-0.02	0.00	0.08	0.00	0.00	2.34	-2.60	7.75
A	1.43	-0.21	0.00	-0.20	0.00	0.00	2.67	-3.11	8.08
CRM	2.14	-0.20	0.00	-1.23	0.00	0.00	4.07	-4.75	13.46
JPM	1.11	0.03	0.02	0.04	1.47	-1.13	2.18	-2.34	8.16
MRK	1.18	0.01	0.00	0.03	1.57	-1.21	2.73	-2.58	7.67
XOM	1.44	0.13	0.06	-0.19	2.00	-1.42	2.73	-3.65	9.09