Matthews Asia Correlations

MIPIX Fund

USD 14.56 0.01 0.07%

The current 90-days correlation between Matthews Asia Dividend and Matthews Pacific Tiger is 0.81 (i.e., Very poor diversification). The correlation of Matthews Asia 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 Asia Correlation With Market

Very weak diversification

The correlation between Matthews Asia Dividend and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Matthews Asia Dividend 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 Asia Dividend. 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 gross domestic product.

Moving together with Matthews Mutual Fund

0.78	MPACX	Matthews Asia Growth	Pair Corr
0.79	MAPTX	Matthews Pacific Tiger Potential Growth	Pair Corr
1.0	MAPIX	Matthews Asia Dividend	Pair Corr
0.84	MATFX	Matthews Asia Innovators	Pair Corr
0.65	MSMLX	Matthews Asia Small	Pair Corr
0.87	MCDFX	Matthews China Dividend	Pair Corr
0.87	MCHFX	Matthews China	Pair Corr
0.85	MCSMX	Matthews China Small	Pair Corr
0.85	MEGMX	Matthews Emerging Markets	Pair Corr
0.78	MIAPX	Matthews Asia Growth	Pair Corr
0.87	MICDX	Matthews China Dividend	Pair Corr
0.85	MICHX	Matthews China Small	Pair Corr
0.87	MICFX	Matthews China	Pair Corr
0.73	MIJFX	Matthews Japan	Pair Corr
0.79	MIPTX	Matthews Pacific Tiger Potential Growth	Pair Corr
0.84	MITEX	Matthews Asia Innovators	Pair Corr
0.85	MISFX	Matthews Asia Esg	Pair Corr
0.73	MJFOX	Matthews Japan	Pair Corr
0.82	VPADX	Vanguard Pacific Stock	Pair Corr
0.82	VPKIX	Vanguard Pacific Stock	Pair Corr
0.82	VPACX	Vanguard Pacific Stock	Pair Corr
0.78	FPBFX	Fidelity Pacific Basin	Pair Corr
0.71	TREMX	T Rowe Price	Pair Corr
0.63	PSDNX	Putnam Ultra Short	Pair Corr
0.69	ABNOX	Ab Bond Inflation	Pair Corr
0.61	GIOIX	Guggenheim Macro Opp	Pair Corr

Moving against Matthews Mutual Fund

0.43	SMPIX	Semiconductor Ultrasector	Pair Corr
0.39	SMPSX	Semiconductor Ultrasector	Pair Corr
0.32	CISGX	Touchstone Sands Capital	Pair Corr

Related Correlations Analysis

	MIPTX	SDVGX	HACSX	JSISX	CPXIX
MIPTX		0.31	0.07	0.56	0.55	MIPTX
SDVGX	0.31		0.81	-0.04	0.01	SDVGX
HACSX	0.07	0.81		-0.21	-0.14	HACSX
JSISX	0.56	-0.04	-0.21		0.98	JSISX
CPXIX	0.55	0.01	-0.14	0.98		CPXIX
	MIPTX	SDVGX	HACSX	JSISX	CPXIX

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

CPXIX	+ 0.98	JSISX
HACSX	+ 0.81	SDVGX
JSISX	+ 0.56	MIPTX
CPXIX	+ 0.55	MIPTX
SDVGX	+ 0.31	MIPTX
HACSX	+ 0.07	MIPTX

High negative correlations

JSISX	- 0.21	HACSX
CPXIX	- 0.14	HACSX
JSISX	- 0.04	SDVGX

Risk-Adjusted Indicators

There is a big difference between Matthews Mutual Fund performing well and Matthews Asia 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 Asia'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
MIPTX	0.95	(0.06)	0.00	(0.19)	0.00	0.00	2.00	(2.04)	6.98
SDVGX	0.88	(0.15)	0.00	(0.16)	0.00	0.00	1.29	(1.58)	10.33
HACSX	0.63	(0.03)	0.00	(0.10)	0.00	0.00	1.22	(1.52)	3.25
JSISX	0.10	0.00	0.20	(0.05)	0.05	(0.16)	0.21	(0.21)	0.73
CPXIX	0.13	0.00	0.17	(0.94)	0.11	(0.16)	0.25	(0.33)	0.82

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