Matthews India Correlations

MIDNX Fund

USD 24.42 0.37 1.54%

The current 90-days correlation between Matthews India and Alpskotak India Growth is 0.64 (i.e., Poor diversification). The correlation of Matthews India 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 India Correlation With Market

Average diversification

The correlation between Matthews India Fund and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Matthews India 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 India 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 board of governors.

Moving together with Matthews Mutual Fund

1.0	MINDX	Matthews India Steady Growth	Pair Corr
0.86	WAINX	Wasatch Emerging India	Pair Corr
0.86	WIINX	Wasatch Emerging India	Pair Corr
0.91	INDAX	Alpskotak India Growth Steady Growth	Pair Corr
0.91	INFCX	Alpskotak India Growth Steady Growth	Pair Corr
0.91	INAAX	Alpskotak India Growth Steady Growth	Pair Corr
0.91	ECGIX	Eaton Vance Greater Steady Growth	Pair Corr
0.91	ETGIX	Eaton Vance Greater Steady Growth	Pair Corr
0.91	EGIIX	Eaton Vance Greater Steady Growth	Pair Corr
0.62	PQTAX	Pimco Trends Managed	Pair Corr
0.61	PQTNX	Pimco Trends Managed	Pair Corr

Moving against Matthews Mutual Fund

0.6	MCSMX	Matthews China Small	Pair Corr
0.6	MICHX	Matthews China Small	Pair Corr
0.55	MCHFX	Matthews China	Pair Corr
0.55	MICFX	Matthews China	Pair Corr
0.54	MCDFX	Matthews China Dividend	Pair Corr
0.54	MICDX	Matthews China Dividend	Pair Corr
0.33	MIEFX	Matthews Emerging Markets	Pair Corr
0.32	MEGMX	Matthews Emerging Markets	Pair Corr
0.59	FSGGX	Fidelity Global Ex	Pair Corr
0.56	GAAKX	Gmo Alternative Allo	Pair Corr
0.56	GAAGX	Gmo Alternative Allo	Pair Corr
0.54	GPBFX	Gmo E Plus	Pair Corr
0.51	THCAX	Thornburg Core Plus	Pair Corr
0.39	WARCX	Wells Fargo Advantage	Pair Corr
0.37	AVAYX	Ab Virginia Portfolio	Pair Corr

Related Correlations Analysis

	INDIX	HSSIX	ENPSX	MIJFX	HSSCX
INDIX		0.29	-0.39	-0.21	0.3	INDIX
HSSIX	0.29		0.2	0.19	1.0	HSSIX
ENPSX	-0.39	0.2		0.12	0.19	ENPSX
MIJFX	-0.21	0.19	0.12		0.17	MIJFX
HSSCX	0.3	1.0	0.19	0.17		HSSCX
	INDIX	HSSIX	ENPSX	MIJFX	HSSCX

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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

HSSCX	+ 1.0	HSSIX
HSSCX	+ 0.3	INDIX
HSSIX	+ 0.29	INDIX
ENPSX	+ 0.2	HSSIX
MIJFX	+ 0.19	HSSIX
HSSCX	+ 0.19	ENPSX

High negative correlations

ENPSX	- 0.39	INDIX
MIJFX	- 0.21	INDIX

Risk-Adjusted Indicators

There is a big difference between Matthews Mutual Fund performing well and Matthews India 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 India'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
INDIX	0.75	(0.11)	0.00	(0.42)	0.00	0.00	1.23	(1.67)	3.49
HSSIX	1.08	(0.08)	0.00	(0.15)	0.00	0.00	2.00	(2.99)	6.34
ENPSX	1.53	0.14	0.06	0.09	2.19	(1.39)	3.17	(3.59)	8.59
MIJFX	0.78	0.06	0.07	0.02	1.05	(0.83)	1.78	(1.43)	5.18
HSSCX	1.08	(0.09)	0.00	(0.15)	0.00	0.00	1.98	(3.02)	6.39

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