Matthews Asia Correlations

MPACX Fund

USD 23.44 0.15 0.64%

The current 90-days correlation between Matthews Asia Growth and Matthews Japan Fund is 0.82 (i.e., Very poor 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

Good diversification

The correlation between Matthews Asia Growth and DJI is -0.06 (i.e., Good 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

0.96	MACSX	Matthews Asian Growth	Pair Corr
0.97	MAPTX	Matthews Pacific Tiger	Pair Corr
0.91	MAPIX	Matthews Asia Dividend	Pair Corr
0.92	MASGX	Matthews Asia Esg	Pair Corr
0.91	MATFX	Matthews Asia Innovators	Pair Corr
0.61	MSMLX	Matthews Asia Small	Pair Corr
0.86	MCDFX	Matthews China Dividend	Pair Corr
0.81	MCHFX	Matthews China	Pair Corr
0.79	MCSMX	Matthews China Small	Pair Corr
0.93	MEGMX	Matthews Emerging Markets	Pair Corr
1.0	MIAPX	Matthews Asia Growth	Pair Corr
0.86	MICDX	Matthews China Dividend	Pair Corr
0.79	MICHX	Matthews China Small	Pair Corr
0.81	MICFX	Matthews China	Pair Corr
0.96	MICSX	Matthews Asian Growth	Pair Corr
0.93	MIEFX	Matthews Emerging Markets	Pair Corr
0.91	MIPIX	Matthews Asia Dividend	Pair Corr
0.97	MIPTX	Matthews Pacific Tiger	Pair Corr
0.91	MITEX	Matthews Asia Innovators	Pair Corr
0.92	MISFX	Matthews Asia Esg	Pair Corr
0.61	MISMX	Matthews Asia Small	Pair Corr
0.97	FPBFX	Fidelity Pacific Basin	Pair Corr

Related Correlations Analysis

	MJFOX	MAPTX	MACSX	AQUI	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3
MJFOX		0.27	0.33	0.0	0.14	-0.01	-0.52	0.36	-0.48	-0.63	MJFOX
MAPTX	0.27		0.99	0.0	0.86	0.51	-0.32	0.69	-0.19	0.03	MAPTX
MACSX	0.33	0.99		0.0	0.84	0.52	-0.39	0.68	-0.25	-0.04	MACSX
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AQUI
MSTSX	0.14	0.86	0.84	0.0		0.67	-0.11	0.81	-0.02	0.15	MSTSX
LBHIX	-0.01	0.51	0.52	0.0	0.67		0.19	0.71	0.27	0.09	LBHIX
VIASP	-0.52	-0.32	-0.39	0.0	-0.11	0.19		-0.01	0.79	0.53	VIASP
RRTLX	0.36	0.69	0.68	0.0	0.81	0.71	-0.01		0.05	0.01	RRTLX
OSHDF	-0.48	-0.19	-0.25	0.0	-0.02	0.27	0.79	0.05		0.35	OSHDF
70082LAB3	-0.63	0.03	-0.04	0.0	0.15	0.09	0.53	0.01	0.35		70082LAB3
	MJFOX	MAPTX	MACSX	AQUI	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3

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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

MACSX	+ 0.99	MAPTX
MSTSX	+ 0.86	MAPTX
MSTSX	+ 0.84	MACSX
RRTLX	+ 0.81	MSTSX
OSHDF	+ 0.79	VIASP
RRTLX	+ 0.71	LBHIX

High negative correlations

70082LAB3	- 0.63	MJFOX
VIASP	- 0.52	MJFOX
OSHDF	- 0.48	MJFOX
VIASP	- 0.39	MACSX
VIASP	- 0.32	MAPTX
OSHDF	- 0.25	MACSX

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
MJFOX	1.02	(0.02)	0.00	0.27	0.00	0.00	2.17	(2.28)	7.68
MAPTX	0.95	0.04	(0.08)	(0.26)	1.19	(1.01)	2.33	(2.22)	6.69
MACSX	0.71	0.03	(0.10)	(0.20)	0.91	(0.74)	1.89	(1.66)	5.35
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MSTSX	0.48	(0.05)	(0.15)	0.04	0.53	(0.58)	1.03	(1.02)	2.80
LBHIX	0.11	0.01	(0.40)	0.46	0.00	(0.29)	0.24	(0.24)	0.96
VIASP	0.74	0.08	(0.03)	(2.22)	1.13	(0.80)	2.28	(1.20)	7.18
RRTLX	0.24	0.01	(0.30)	0.50	0.24	(0.27)	0.56	(0.56)	1.37
OSHDF	39.65	22.61	0.00	(0.96)	0.00	0.00	0.00	0.00	1,329
70082LAB3	1.00	0.03	(0.04)	1.56	2.25	(1.07)	1.75	(1.69)	24.27

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