Guinness Atkinson Correlations

Mutual Funds . USA . 
Fund . Guinness Atkinson Global
GINNX Fund  USD 63.24  0.32  0.50%   
The current 90-days correlation between Guinness Atkinson Global and Guinness Atkinson Global is 0.01 (i.e., Significant 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

Very poor diversification

The correlation between Guinness Atkinson Global and DJI is 0.83 (i.e., Very poor 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 board of governors.

Moving together with Guinness Mutual Fund

  0.98IASMX Guinness Atkinson Asia Steady GrowthPairCorr
  0.77IWIRX Guinness Atkinson GlobalPairCorr
  0.69GAAEX Guinness AtkinsonPairCorr
  0.88GAGEX Guinness Atkinson GlobalPairCorr
  0.75FNFPX American Funds NewPairCorr
  0.75FFPNX American Funds NewPairCorr
  0.75NPFCX New PerspectivePairCorr
  0.75ANWPX New PerspectivePairCorr
  0.75NPFFX New PerspectivePairCorr
  0.75CNPAX New PerspectivePairCorr
  0.75CNPEX New PerspectivePairCorr
  0.75CNPFX New PerspectivePairCorr
  0.75CNPCX New PerspectivePairCorr
  0.75RNPAX New PerspectivePairCorr
  0.96SMPIX Semiconductor Ultrasector Steady GrowthPairCorr
  0.96SMPSX Semiconductor Ultrasector Steady GrowthPairCorr
  0.93TTEEX T Rowe PricePairCorr
  0.71FIKGX Fidelity Advisor SemPairCorr
  0.97ONERX One Rock Fund Steady GrowthPairCorr
  0.62FELCX Fidelity Advisor SemPairCorr
  0.71FELIX Fidelity Advisor SemPairCorr
  0.71FSELX Fidelity Select SemiPairCorr
  0.71FELAX Fidelity Advisor SemPairCorr
  0.65GGRCX Goldman Sachs StrategicPairCorr
  0.74FRCHX Fidelity Freedom BlendPairCorr
  0.74ERIFX Eaton Vance BalancedPairCorr
  0.62ESPCX Wells Fargo AdvantagePairCorr
  0.66FSCRX Fidelity Small CapPairCorr
  0.94IJPMX Vy Jpmorgan MidPairCorr
  0.74PLTQX Principal Lifetime HybridPairCorr
  0.61VMVIX Vanguard Mid CapPairCorr
  0.86NRCFX Aew Real EstatePairCorr
  0.75JOEIX Johcm Emerging MarketsPairCorr
  0.99QWVPX Clearwater E EquityPairCorr
  0.7CDAZX Multi Manager DirectPairCorr
  0.96FHLFX Fidelity Series IntePairCorr
  0.66DDDAX 13d ActivistPairCorr

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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