Matthews Japan Correlations

Mutual Funds . USA . 
Fund . Matthews Japan Fund
MIJFX Fund  USD 20.92  0.07  0.34%   
The current 90-days correlation between Matthews Japan and Hennessy Japan Fund is 0.92 (i.e., Almost no diversification). The correlation of Matthews Japan 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 Japan Correlation With Market

Poor diversification

The correlation between Matthews Japan Fund and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Matthews Japan 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 Japan 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

  0.85MPACX Matthews Asia GrowthPairCorr
  0.66MCDFX Matthews China DividendPairCorr
  0.69MCHFX Matthews ChinaPairCorr
  0.65MCSMX Matthews China SmallPairCorr
  0.85MIAPX Matthews Asia GrowthPairCorr
  0.66MICDX Matthews China DividendPairCorr
  0.65MICHX Matthews China SmallPairCorr
  0.69MICFX Matthews ChinaPairCorr
  0.86MIPIX Matthews Asia DividendPairCorr
  1.0MJFOX Matthews JapanPairCorr
  0.82RJAIX T Rowe PricePairCorr
  0.93FJPNX Fidelity JapanPairCorr
  0.79DFJSX Japanese Small PanyPairCorr
  0.93FIQLX Fidelity JapanPairCorr
  0.82PRJPX T Rowe PricePairCorr
  0.83FJSCX Fidelity Japan SmallerPairCorr
  0.9FSJPX Fidelity Sai JapanPairCorr
  0.93FJPIX Fidelity JapanPairCorr
  0.66CSJZX Cohen Steers RealtyPairCorr
  0.66CSRSX Cohen Steers RealtyPairCorr
  0.71DBIWX Dws Global MacroPairCorr
  0.64HTD John Hancock TaxPairCorr
  0.66VICSX Vanguard Intermediate-terPairCorr
  0.66SGDLX Sprott Gold EquityPairCorr
  0.63UTF Cohen And SteersPairCorr

Moving against Matthews Mutual Fund

  0.46MRK Merck CompanyPairCorr
  0.31CAT CaterpillarPairCorr

Related Correlations Analysis

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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   
HJPNX
+ 1.0
HJPIX
MJFOX
+ 0.87
HJPIX
MJFOX
+ 0.86
HJPNX
MJFOX
+ 0.86
MIPIX
MIPIX
+ 0.63
HJPIX
MIPIX
+ 0.62
HJPNX
  
High negative correlations   
MIPIX
- 0.15
MIDNX
MJFOX
- 0.09
MIDNX

Risk-Adjusted Indicators

There is a big difference between Matthews Mutual Fund performing well and Matthews Japan 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 Japan'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.

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