Guinness Atkinson Correlations

Mutual Funds . USA . 
Fund . Guinness Atkinson Alternative
GAAEX Fund  USD 5.91  0.13  2.25%   
The current 90-days correlation between Guinness Atkinson and New Alternatives Fund is 0.71 (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 Alternative and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guinness Atkinson Alternative 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 Alternative. 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 income.

Moving together with Guinness Mutual Fund

  0.98GINNX Guinness Atkinson GlobalPairCorr
  0.98IASMX Guinness Atkinson Asia Steady GrowthPairCorr
  0.88ICHKX Guinness Atkinson ChinaPairCorr
  0.97IWIRX Guinness Atkinson GlobalPairCorr
  0.66GAGEX Guinness Atkinson GlobalPairCorr
  0.97FSWFX American Funds SmallcapPairCorr
  0.97FSFWX American Funds SmallcapPairCorr
  0.99SCWCX American Fds SmallcapPairCorr
  0.97SCWFX Smallcap WorldPairCorr
  0.99SMCWX Smallcap WorldPairCorr
  0.97CSPFX Smallcap WorldPairCorr
  0.69CSPAX Smallcap WorldPairCorr
  0.97CSPEX Smallcap WorldPairCorr
  0.97RSLCX Smallcap WorldPairCorr
  0.97RLLGX Smallcap WorldPairCorr
  0.98SMPIX Semiconductor Ultrasector Steady GrowthPairCorr
  0.98SMPSX Semiconductor Ultrasector Steady GrowthPairCorr
  0.97TTEEX T Rowe PricePairCorr
  0.97TREMX T Rowe PricePairCorr
  0.99FIKGX Fidelity Advisor SemPairCorr
  0.98ONERX One Rock Fund Steady GrowthPairCorr
  0.98FELCX Fidelity Advisor SemPairCorr
  0.98FELIX Fidelity Advisor SemPairCorr
  0.98FSELX Fidelity Select SemiPairCorr
  0.98RMQAX Monthly RebalancePairCorr
  0.98PLMTX Principal Lifetime HybridPairCorr
  0.97RRFDX T Rowe PricePairCorr
  0.7QICNX Aqr International MultiPairCorr
  0.75STMMX Sterling Capital StrattonPairCorr
  0.68BUYGX Cboe Vest LargePairCorr
  0.61REINX Invesco Real EstatePairCorr
  0.74ADVLX Advisory ResearchPairCorr
  0.97AICGX Income GrowthPairCorr
  0.68APLIX Cavanal Hill HedgedPairCorr
  0.71MSEIX Amg Managers Special Steady GrowthPairCorr
  0.99LBCQX Lord Abbett VertiblePairCorr
  0.68BEMRX Brandes Emerging MarketsPairCorr
  0.99JNTEX Jpmorgan SmartretirementPairCorr
  0.91NILTX Neuberger Berman IntPairCorr

Related Correlations Analysis

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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.

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