Matthews Asia Correlations

MITEX Fund

USD 18.58 0.02 0.11%

The current 90-days correlation between Matthews Asia Innovators and Pro Blend Moderate Term is 0.04 (i.e., Significant diversification). The correlation of Matthews Asia 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 Asia Correlation With Market

Very weak diversification

The correlation between Matthews Asia Innovators and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Matthews Asia Innovators 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 Asia Innovators. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Matthews Mutual Fund

0.96	PNSIX	T Rowe Price	Pair Corr
0.84	PRASX	T Rowe Price	Pair Corr
0.96	TRZNX	T Rowe Price	Pair Corr
0.97	FSEAX	Fidelity Emerging Asia	Pair Corr
0.82	ASISX	Invesco Asia Pacific	Pair Corr
0.96	MAPTX	Matthews Pacific Tiger	Pair Corr
0.9	MIPTX	Matthews Pacific Tiger	Pair Corr
0.77	FTYPX	Fidelity Freedom Index	Pair Corr
0.78	FFBTX	Fidelity Freedom Blend	Pair Corr
0.77	TPIIX	Timothy Plan Interna	Pair Corr
0.69	EXG	Eaton Vance Tax	Pair Corr
0.68	NBGPX	Columbia Capital All	Pair Corr
0.62	LSSCX	Loomis Sayles Small	Pair Corr
0.7	PCODX	Pioneer Fund Pioneer	Pair Corr
0.64	SPECX	Alger Spectra	Pair Corr

Related Correlations Analysis

	PBFDX	HFCVX	AUUCX	CAMOX	FWRLX	MSSMX	MSSGX	DISMX	LEAOX	EXBAX
PBFDX		0.78	0.85	0.79	0.44	0.01	0.01	0.91	0.84	0.71	PBFDX
HFCVX	0.78		0.92	0.86	0.08	-0.3	-0.31	0.86	0.72	0.73	HFCVX
AUUCX	0.85	0.92		0.89	0.14	-0.23	-0.24	0.86	0.73	0.8	AUUCX
CAMOX	0.79	0.86	0.89		0.0	-0.28	-0.29	0.89	0.83	0.84	CAMOX
FWRLX	0.44	0.08	0.14	0.0		0.55	0.56	0.29	0.23	0.02	FWRLX
MSSMX	0.01	-0.3	-0.23	-0.28	0.55		1.0	0.01	0.08	-0.45	MSSMX
MSSGX	0.01	-0.31	-0.24	-0.29	0.56	1.0		0.01	0.07	-0.46	MSSGX
DISMX	0.91	0.86	0.86	0.89	0.29	0.01	0.01		0.93	0.68	DISMX
LEAOX	0.84	0.72	0.73	0.83	0.23	0.08	0.07	0.93		0.63	LEAOX
EXBAX	0.71	0.73	0.8	0.84	0.02	-0.45	-0.46	0.68	0.63		EXBAX
	PBFDX	HFCVX	AUUCX	CAMOX	FWRLX	MSSMX	MSSGX	DISMX	LEAOX	EXBAX

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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

MSSGX	+ 1.0	MSSMX
LEAOX	+ 0.93	DISMX
AUUCX	+ 0.92	HFCVX
DISMX	+ 0.91	PBFDX
CAMOX	+ 0.89	AUUCX
DISMX	+ 0.89	CAMOX

High negative correlations

EXBAX	- 0.46	MSSGX
EXBAX	- 0.45	MSSMX
MSSGX	- 0.31	HFCVX
MSSMX	- 0.3	HFCVX
MSSGX	- 0.29	CAMOX
MSSMX	- 0.28	CAMOX

Risk-Adjusted Indicators

There is a big difference between Matthews Mutual Fund performing well and Matthews Asia 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 Asia'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
PBFDX	0.77	0.05	(0.01)	0.48	0.98	(0.81)	1.46	(1.99)	4.92
HFCVX	0.54	0.18	0.20	12.61	0.09	(0.68)	1.24	(0.74)	6.17
AUUCX	0.61	0.13	0.08	(10.72)	0.54	(0.68)	1.11	(1.00)	10.07
CAMOX	1.14	0.58	0.74	(1.42)	0.00	(1.59)	1.56	(0.94)	28.04
FWRLX	0.65	(0.04)	0.00	(0.65)	0.00	0.00	1.09	(1.59)	3.14
MSSMX	1.53	(0.32)	0.00	(0.13)	0.00	0.00	2.46	(3.81)	8.23
MSSGX	1.50	(0.31)	0.00	(0.14)	0.00	0.00	2.47	(3.02)	8.24
DISMX	0.58	0.09	0.05	0.46	0.59	(0.63)	1.18	(1.09)	2.55
LEAOX	0.58	0.12	0.11	0.69	0.33	(0.76)	1.71	(0.97)	2.97
EXBAX	0.35	0.08	0.08	0.31	0.00	(0.46)	0.69	(0.51)	4.72

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