China Fund Correlations

CHN Fund

USD 13.74 0.19 1.36%

The current 90-days correlation between China Fund and Blackrock Muniholdings Quality is 0.15 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as China Fund moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if China Fund moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

China Fund Correlation With Market

Modest diversification

The correlation between China Fund and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding China Fund and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in China Fund. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with China Fund

0.71	FKIQX	Franklin Income	Pair Corr
0.76	PDI	Pimco Dynamic Income	Pair Corr
0.84	PMDRX	Moderate Duration	Pair Corr
0.81	HWDTX	Hartford World	Pair Corr
0.86	FEMHX	Templeton Emerging	Pair Corr
0.89	GUBGX	Victory Rs International	Pair Corr
0.94	PZRPX	Pimco Rae Fundamental	Pair Corr
0.85	SCBIX	Schroder Core Bond	Pair Corr
0.83	TRZTX	T Rowe Price	Pair Corr
0.62	SEIYX	Simt High Yield	Pair Corr
0.7	FAAQX	Faaqx	Pair Corr
0.77	DIMIX	Dreyfus Short Interm	Pair Corr
0.89	ZEMIX	Investec Emerging Markets	Pair Corr
0.92	TTISX	Tiaa Cref Intl	Pair Corr
0.76	VMLUX	Vanguard Limited Term	Pair Corr
0.82	MRBIX	Mfs Total Return	Pair Corr
0.81	UITCX	Usaa Intermediate Term	Pair Corr
0.86	EASDX	Eaton Vance Short	Pair Corr
0.84	CSBCX	Calvert Bond Portfolio	Pair Corr
0.82	FIRMX	Fidelity Income Repl	Pair Corr
0.87	EMSLX	Shelton Emerging Markets	Pair Corr
0.83	TSBRX	Tiaa Cref Social	Pair Corr
0.83	GSFIX	Goldman Sachs E	Pair Corr
0.66	NALFX	New Alternatives	Pair Corr
0.61	FAPQX	Fapqx	Pair Corr
0.82	SEMOX	Semper Mbs Total	Pair Corr
0.79	FNMIX	Fidelity New Markets	Pair Corr
0.91	BEXUX	Baron Emerging Markets	Pair Corr
0.83	CNLEX	American Funds Inflation	Pair Corr

Moving against China Fund

0.86	GUMAX	Guggenheim Market Neutral	Pair Corr
0.41	FMCMX	American Funds Amcap	Pair Corr
0.36	FMMMX	American Funds Amcap	Pair Corr
0.34	FAFGX	American Funds	Pair Corr
0.34	FFAFX	American Funds	Pair Corr

Related Correlations Analysis

	AJMPF	MXE	MMU	MUE	KF	JEQ	SWZ	GF	TWN	IFN
AJMPF		-0.45	-0.58	-0.33	-0.67	-0.35	-0.74	-0.48	0.42	0.36	AJMPF
MXE	-0.45		0.66	0.4	0.83	0.6	0.78	0.75	-0.43	-0.48	MXE
MMU	-0.58	0.66		0.81	0.61	0.28	0.64	0.45	-0.27	-0.22	MMU
MUE	-0.33	0.4	0.81		0.34	0.14	0.3	0.2	-0.07	0.24	MUE
KF	-0.67	0.83	0.61	0.34		0.55	0.86	0.72	-0.4	-0.5	KF
JEQ	-0.35	0.6	0.28	0.14	0.55		0.52	0.84	-0.73	-0.31	JEQ
SWZ	-0.74	0.78	0.64	0.3	0.86	0.52		0.76	-0.6	-0.69	SWZ
GF	-0.48	0.75	0.45	0.2	0.72	0.84	0.76		-0.83	-0.59	GF
TWN	0.42	-0.43	-0.27	-0.07	-0.4	-0.73	-0.6	-0.83		0.54	TWN
IFN	0.36	-0.48	-0.22	0.24	-0.5	-0.31	-0.69	-0.59	0.54		IFN
	AJMPF	MXE	MMU	MUE	KF	JEQ	SWZ	GF	TWN	IFN

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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

SWZ	+ 0.86	KF
GF	+ 0.84	JEQ
KF	+ 0.83	MXE
MUE	+ 0.81	MMU
SWZ	+ 0.78	MXE
GF	+ 0.76	SWZ

High negative correlations

TWN	- 0.83	GF
SWZ	- 0.74	AJMPF
TWN	- 0.73	JEQ
IFN	- 0.69	SWZ
KF	- 0.67	AJMPF
TWN	- 0.6	SWZ

Risk-Adjusted Indicators

There is a big difference between China Fund performing well and China Fund 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 China Fund'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
AJMPF	1.83	(0.03)	0.02	(0.06)	3.20	(10.10)	5.26	(6.19)	43.76
MXE	0.99	0.11	0.13	0.11	1.09	(1.15)	2.24	(1.93)	4.69
MMU	0.45	(0.05)	0.00	0.95	0.00	0.00	0.80	(1.06)	3.24
MUE	0.56	(0.07)	0.00	(0.37)	0.00	0.00	0.99	(1.25)	2.77
KF	0.97	0.22	0.23	0.29	0.95	(1.09)	2.78	(1.84)	5.73
JEQ	0.84	0.16	0.26	(0.69)	0.87	(0.96)	1.23	(1.35)	7.08
SWZ	0.82	0.30	0.40	0.50	0.54	(1.02)	1.92	(1.33)	7.13
GF	0.97	0.44	0.37	0.55	0.76	(1.15)	2.80	(1.56)	7.35
TWN	1.07	(0.08)	0.00	(0.27)	0.00	0.00	1.93	(2.69)	7.31
IFN	0.82	(0.11)	0.00	(0.40)	0.00	0.00	1.51	(1.95)	5.09

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