Guinness Atkinson Correlations

Mutual Funds . USA . 
Fund . Guinness Atkinson Global
GAGEX Fund  USD 23.06  0.03  0.13%   
The current 90-days correlation between Guinness Atkinson Global and Guinness Atkinson Alternative is 0.23 (i.e., Modest 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

Average diversification

The correlation between Guinness Atkinson Global and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guinness Atkinson Global 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 Global. 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

  0.88GINNX Guinness Atkinson GlobalPairCorr
  0.97VGELX Vanguard EnergyPairCorr
  0.73VGENX Vanguard EnergyPairCorr
  0.98VENAX Vanguard Energy IndexPairCorr
  0.81FSENX Fidelity Select PortPairCorr
  0.78FNRCX Fidelity Advisor EnergyPairCorr
  0.81FANAX Fidelity Advisor EnergyPairCorr
  0.81FAGNX Fidelity Advisor EnergyPairCorr
  0.81FANIX Fidelity Advisor EnergyPairCorr
  0.78FNARX Fidelity Natural ResPairCorr
  0.77IENIX Invesco EnergyPairCorr
  0.85PDI Pimco Dynamic IncomePairCorr
  0.69FTCAX Templeton Strained BondPairCorr
  0.64SMGAX Saat Servative StrategyPairCorr
  0.91DIMIX Dreyfus Short IntermPairCorr
  0.67FMSDX Fidelity Advisor MultiPairCorr
  0.68FSELX Fidelity Select SemiPairCorr
  0.66JFFYX Jpmorgan SmartretirementPairCorr
  0.91MCYIX Mainstay CandriamPairCorr
  0.68ASCZX Alger Smallcap GrowthPairCorr
  0.64RSOOX Columbia DividendPairCorr
  0.66OAAIX Oppenheimer AggrssvPairCorr
  0.64OWFIX Old Westbury FixedPairCorr
  0.64QMLAX Quantified Market LeadersPairCorr
  0.86GIFRX Goldman Sachs ShortPairCorr
  0.64MITTX Massachusetts InvestorsPairCorr
  0.94AMTOX Ab All MarketPairCorr

Moving against Guinness Mutual Fund

  0.85USPSX Profunds UltrashortPairCorr
  0.85USPIX Profunds UltrashortPairCorr
  0.82UIPIX Ultrashort Mid CapPairCorr

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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