China Fund Correlations

CHN Fund

USD 12.90 0.07 0.54%

The current 90-days correlation between China Fund and Blackrock Muniholdings Quality is 0.12 (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

Average diversification

The correlation between China Fund and DJI is 0.13 (i.e., Average 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

0.64	TEDNX	Tiaa Cref Emerging	Pair Corr
0.65	RFXAX	Rational Special Sit	Pair Corr
0.66	MXECX	Great-west Core	Pair Corr
0.69	TEFTX	Templeton Foreign	Pair Corr
0.68	AVANX	Avantis International	Pair Corr
0.66	ABWYX	Ab All Market	Pair Corr
0.7	NPSRX	Nuveen Preferred Sec	Pair Corr
0.67	FIOFX	Fidelity Freedom Index	Pair Corr
0.68	ICELX	Mainstay Epoch Inter	Pair Corr
0.64	TRERX	Tiaa Cref International	Pair Corr
0.78	ZEMAX	Investec Emerging Markets	Pair Corr

Moving against China Fund

0.63	USPSX	Profunds Ultrashort	Pair Corr
0.63	USPIX	Profunds Ultrashort	Pair Corr

Related Correlations Analysis

	AJMPF	MXE	MMU	MUE	KF	JEQ	SWZ	GF	TWN	IFN
AJMPF		-0.16	-0.09	-0.2	-0.06	-0.08	-0.23	-0.23	0.26	-0.1	AJMPF
MXE	-0.16		0.34	0.1	0.5	0.5	0.56	0.77	0.13	-0.29	MXE
MMU	-0.09	0.34		0.83	0.45	0.72	0.34	0.64	-0.46	0.42	MMU
MUE	-0.2	0.1	0.83		0.25	0.6	0.0	0.43	-0.57	0.77	MUE
KF	-0.06	0.5	0.45	0.25		0.3	0.7	0.67	-0.14	-0.13	KF
JEQ	-0.08	0.5	0.72	0.6	0.3		0.31	0.77	-0.03	0.24	JEQ
SWZ	-0.23	0.56	0.34	0.0	0.7	0.31		0.7	0.08	-0.55	SWZ
GF	-0.23	0.77	0.64	0.43	0.67	0.77	0.7		0.05	-0.09	GF
TWN	0.26	0.13	-0.46	-0.57	-0.14	-0.03	0.08	0.05		-0.54	TWN
IFN	-0.1	-0.29	0.42	0.77	-0.13	0.24	-0.55	-0.09	-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

MUE	+ 0.83	MMU
GF	+ 0.77	MXE
IFN	+ 0.77	MUE
GF	+ 0.77	JEQ
JEQ	+ 0.72	MMU
SWZ	+ 0.7	KF

High negative correlations

TWN	- 0.57	MUE
IFN	- 0.55	SWZ
IFN	- 0.54	TWN
TWN	- 0.46	MMU
IFN	- 0.29	MXE
GF	- 0.23	AJMPF

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	0.44	(0.26)	0.00	(0.18)	0.00	0.00	0.00	0.00	7.04
MXE	0.92	0.16	0.12	2.54	0.98	(1.03)	2.24	(1.93)	4.62
MMU	0.45	0.02	0.01	(5.92)	0.56	(0.50)	1.26	(1.15)	3.21
MUE	0.58	(0.02)	0.00	(0.07)	0.00	0.00	1.29	(1.39)	3.29
KF	0.94	0.14	0.11	0.32	0.99	(1.02)	2.78	(2.02)	5.28
JEQ	0.71	0.06	0.05	0.15	0.98	(0.71)	1.52	(1.67)	4.68
SWZ	0.75	0.23	0.27	0.49	0.52	(0.94)	2.00	(1.41)	7.15
GF	0.76	0.17	0.15	0.31	0.78	(0.83)	1.92	(1.56)	4.10
TWN	1.05	0.16	0.09	1.14	1.37	(1.10)	2.13	(2.11)	7.31
IFN	0.72	(0.12)	0.00	(0.29)	0.00	0.00	1.53	(1.51)	4.89

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