Matthews Asia Correlations

MPACX Fund

USD 22.54 0.32 1.40%

The current 90-days correlation between Matthews Asia Growth and Matthews Asia Innovators is -0.07 (i.e., Good 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

Weak diversification

The correlation between Matthews Asia Growth and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Matthews Asia Growth 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 Growth. 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 main economic indicators.

Moving together with Matthews Mutual Fund

0.82	MACSX	Matthews Asian Growth	Pair Corr
0.84	MAPTX	Matthews Pacific Tiger	Pair Corr
0.97	MAPIX	Matthews Asia Dividend	Pair Corr
0.64	MASGX	Matthews Asia Esg	Pair Corr
0.87	MATFX	Matthews Asia Innovators	Pair Corr
0.9	MSMLX	Matthews Asia Small	Pair Corr
0.71	MCDFX	Matthews China Dividend	Pair Corr
0.79	MCHFX	Matthews China	Pair Corr
0.95	MEGMX	Matthews Emerging Markets	Pair Corr
1.0	MIAPX	Matthews Asia Growth	Pair Corr
0.71	MICDX	Matthews China Dividend	Pair Corr
0.67	MICFX	Matthews China	Pair Corr
0.81	MICSX	Matthews Asian Growth	Pair Corr
0.67	MIEFX	Matthews Emerging Markets	Pair Corr
0.84	MIDNX	Matthews India	Pair Corr
0.74	MIJFX	Matthews Japan	Pair Corr
0.84	MINDX	Matthews India	Pair Corr
0.97	MIPIX	Matthews Asia Dividend	Pair Corr
0.84	MIPTX	Matthews Pacific Tiger	Pair Corr
0.79	MITEX	Matthews Asia Innovators	Pair Corr
0.9	MISMX	Matthews Asia Small	Pair Corr
0.74	MJFOX	Matthews Japan	Pair Corr
0.71	VPADX	Vanguard Pacific Stock	Pair Corr
0.85	VPKIX	Vanguard Pacific Stock	Pair Corr
0.71	VPACX	Vanguard Pacific Stock	Pair Corr
0.83	FPBFX	Fidelity Pacific Basin	Pair Corr
0.67	SMPIX	Semiconductor Ultrasector	Pair Corr
0.72	SMPSX	Semiconductor Ultrasector	Pair Corr

Moving against Matthews Mutual Fund

0.75	PRLVX	Private Shares	Pair Corr
0.58	LFRFX	Floating Rate	Pair Corr

Related Correlations Analysis

	MATFX	MJFOX	MAPTX	MACSX	MAKOX
MATFX		0.63	0.85	0.74	0.0	MATFX
MJFOX	0.63		0.46	0.64	0.0	MJFOX
MAPTX	0.85	0.46		0.57	0.0	MAPTX
MACSX	0.74	0.64	0.57		0.0	MACSX
MAKOX	0.0	0.0	0.0	0.0		MAKOX
	MATFX	MJFOX	MAPTX	MACSX	MAKOX

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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

MAPTX	+ 0.85	MATFX
MACSX	+ 0.74	MATFX
MACSX	+ 0.64	MJFOX
MJFOX	+ 0.63	MATFX
MACSX	+ 0.57	MAPTX
MAPTX	+ 0.46	MJFOX

High negative correlations

MAKOX	- 0.0	MACSX
MAKOX	- 0.0	MAPTX
MAKOX	- 0.0	MJFOX
MAKOX	- 0.0	MATFX

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
MATFX	0.85	(0.06)	0.00	(0.13)	0.00	0.00	1.62	(2.18)	5.35
MJFOX	0.75	0.00	(0.04)	0.07	0.92	(0.81)	1.42	(1.29)	5.36
MAPTX	0.81	(0.21)	0.00	(0.32)	0.00	0.00	1.42	(1.94)	9.00
MACSX	0.57	(0.07)	0.00	(0.14)	0.00	0.00	1.10	(1.59)	3.68
MAKOX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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