Guinness Atkinson Correlations

IASMX Fund

USD 15.95 0.22 1.36%

The current 90-days correlation between Guinness Atkinson Asia and Guinness Atkinson China is 0.76 (i.e., Poor diversification). The correlation of Guinness Atkinson 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.

Guinness Atkinson Correlation With Market

Good diversification

The correlation between Guinness Atkinson Asia and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guinness Atkinson Asia and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Guinness Atkinson Asia. 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 population.

Moving together with Guinness Mutual Fund

0.87	ICHKX	Guinness Atkinson China	Pair Corr
0.61	MAPTX	Matthews Pacific Tiger Potential Growth	Pair Corr
0.61	MIPTX	Matthews Pacific Tiger Potential Growth	Pair Corr
0.87	PNSIX	T Rowe Price	Pair Corr
0.87	PRASX	T Rowe Price	Pair Corr
0.88	TRZNX	T Rowe Price	Pair Corr
0.86	FSEAX	Fidelity Emerging Asia	Pair Corr
0.9	GOIGX	John Hancock Interna	Pair Corr
0.8	PPFFX	American Funds Prese	Pair Corr
0.83	EGRAX	Eaton Vance Global	Pair Corr
0.72	TARBX	Touchstone Arbitrage	Pair Corr
0.9	JIGIX	John Hancock Interna	Pair Corr
0.69	ARCNX	Aqr Risk Balanced	Pair Corr
0.83	PDI	Pimco Dynamic Income Sell-off Trend	Pair Corr
0.81	BIGCX	Blackrock Gov Bd	Pair Corr
0.78	QNZNX	Aqr Sustainable Long	Pair Corr
0.63	LSYQX	Lord Abbett Short	Pair Corr
0.65	EKHCX	Wells Fargo High	Pair Corr
0.68	SAAAX	Simt Multi Asset	Pair Corr

Moving against Guinness Mutual Fund

0.55	SMPSX	Semiconductor Ultrasector	Pair Corr
0.64	MKTBX	Mainstay Tax Free	Pair Corr
0.55	SMPIX	Semiconductor Ultrasector	Pair Corr
0.35	RGNCX	Victory Global Natural	Pair Corr
0.34	RSNRX	Victory Global Natural	Pair Corr
0.33	RSNYX	Victory Global Natural	Pair Corr
0.43	MBLCX	Madison Diversified	Pair Corr

Related Correlations Analysis

	ICHKX	USCOX	MAKOX	IWIRX	GAGEX
ICHKX		0.0	0.0	-0.34	0.11	ICHKX
USCOX	0.0		0.0	0.0	0.0	USCOX
MAKOX	0.0	0.0		0.0	0.0	MAKOX
IWIRX	-0.34	0.0	0.0		0.25	IWIRX
GAGEX	0.11	0.0	0.0	0.25		GAGEX
	ICHKX	USCOX	MAKOX	IWIRX	GAGEX

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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

GAGEX	+ 0.25	IWIRX
GAGEX	+ 0.11	ICHKX
USCOX	+ 0.0	ICHKX
MAKOX	+ 0.0	ICHKX
MAKOX	+ 0.0	USCOX
IWIRX	+ 0.0	USCOX

High negative correlations

IWIRX	- 0.34	ICHKX
GAGEX	- 0.0	MAKOX
IWIRX	- 0.0	MAKOX
GAGEX	- 0.0	USCOX
IWIRX	- 0.0	USCOX
MAKOX	- 0.0	USCOX

Risk-Adjusted Indicators

There is a big difference between Guinness Mutual Fund performing well and Guinness Atkinson 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 Guinness Atkinson'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
ICHKX	1.06	0.13	0.12	0.41	1.20	(1.23)	2.47	(2.31)	6.03
USCOX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MAKOX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IWIRX	0.88	(0.03)	0.00	(0.08)	0.00	0.00	1.58	(2.20)	5.21
GAGEX	0.73	0.12	0.13	0.22	0.95	(0.76)	1.67	(1.92)	4.87

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