Matthews China Correlations

MCHFX Fund

USD 15.11 0.25 1.63%

The current 90-days correlation between Matthews China and Matthews India Fund is 0.14 (i.e., Average diversification). The correlation of Matthews China 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 China Correlation With Market

Average diversification

The correlation between Matthews China Fund and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Matthews China Fund 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 China Fund. 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 census.

Moving together with Matthews Mutual Fund

0.62	MPACX	Matthews Asia Growth	Pair Corr
0.84	MAPIX	Matthews Asia Dividend	Pair Corr
0.79	MASGX	Matthews Asia Esg	Pair Corr
0.83	MATFX	Matthews Asia Innovators	Pair Corr
0.99	MCDFX	Matthews China Dividend	Pair Corr
0.98	MCSMX	Matthews China Small	Pair Corr
0.87	MEGMX	Matthews Emerging Markets	Pair Corr
0.63	MIAPX	Matthews Asia Growth	Pair Corr
0.99	MICDX	Matthews China Dividend	Pair Corr
0.98	MICHX	Matthews China Small	Pair Corr
1.0	MICFX	Matthews China	Pair Corr
0.87	MIEFX	Matthews Emerging Markets	Pair Corr
0.69	MIJFX	Matthews Japan	Pair Corr
0.85	MIPIX	Matthews Asia Dividend	Pair Corr
0.83	MITEX	Matthews Asia Innovators	Pair Corr
0.79	MISFX	Matthews Asia Esg	Pair Corr
0.69	MJFOX	Matthews Japan	Pair Corr
0.97	FHKTX	Fidelity China Region	Pair Corr
0.97	FCHKX	Fidelity China Region	Pair Corr
0.97	FHKAX	Fidelity China Region	Pair Corr
0.97	FHKIX	Fidelity China Region	Pair Corr
0.97	FIQFX	Fidelity China Region	Pair Corr
0.97	FHKCX	Fidelity China Region	Pair Corr
0.84	PDI	Pimco Dynamic Income	Pair Corr
0.68	UIPIX	Ultrashort Mid Cap	Pair Corr

Moving against Matthews Mutual Fund

0.55	MIDNX	Matthews India Steady Growth	Pair Corr
0.55	MINDX	Matthews India Steady Growth	Pair Corr
0.76	TCSUX	Cleartrack 2020 Class	Pair Corr
0.72	TCTGX	Transamerica Cleartrack	Pair Corr
0.71	TDKTX	Cleartrack 2015 Class	Pair Corr
0.71	TCTJX	Transamerica Cleartrack	Pair Corr

Related Correlations Analysis

	MINDX	MAPTX	MACSX	ICHKX	OBCHX
MINDX		0.31	0.02	-0.51	-0.6	MINDX
MAPTX	0.31		0.55	0.55	0.53	MAPTX
MACSX	0.02	0.55		0.51	0.51	MACSX
ICHKX	-0.51	0.55	0.51		0.96	ICHKX
OBCHX	-0.6	0.53	0.51	0.96		OBCHX
	MINDX	MAPTX	MACSX	ICHKX	OBCHX

Click cells to compare fundamentals

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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

OBCHX	+ 0.96	ICHKX
MACSX	+ 0.55	MAPTX
ICHKX	+ 0.55	MAPTX
OBCHX	+ 0.53	MAPTX
ICHKX	+ 0.51	MACSX
OBCHX	+ 0.51	MACSX

High negative correlations

OBCHX	- 0.6	MINDX
ICHKX	- 0.51	MINDX

Risk-Adjusted Indicators

There is a big difference between Matthews Mutual Fund performing well and Matthews China 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 China'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
MINDX	1.03	(0.34)	0.00	(1.40)	0.00	0.00	1.66	(2.04)	14.87
MAPTX	0.95	(0.06)	0.00	(0.20)	0.00	0.00	2.00	(2.04)	6.98
MACSX	0.63	0.00	0.07	(0.02)	0.80	(0.75)	1.21	(1.48)	5.73
ICHKX	1.06	0.13	0.14	0.86	1.20	(1.23)	2.47	(2.31)	6.03
OBCHX	1.49	0.25	0.15	0.56	1.51	(1.76)	3.16	(3.19)	10.61

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