Guinness Atkinson Correlations

Mutual Funds . USA . 
Fund . Guinness Atkinson China
ICHKX Fund  USD 14.80  0.06  0.41%   
The current 90-days correlation between Guinness Atkinson China and Guinness Atkinson Asia is -0.19 (i.e., Good 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 China and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guinness Atkinson China 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 China. 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 industry.

Moving together with Guinness Mutual Fund

  0.87IWIRX Guinness Atkinson GlobalPairCorr
  0.88GAAEX Guinness AtkinsonPairCorr
  0.72FHKTX Fidelity China Region Steady GrowthPairCorr
  0.71FCHKX Fidelity China Region Steady GrowthPairCorr
  0.72FHKAX Fidelity China Region Steady GrowthPairCorr
  0.94FHKIX Fidelity China Region Steady GrowthPairCorr
  0.94FIQFX Fidelity China Region Steady GrowthPairCorr
  0.7MCHFX Matthews China Steady GrowthPairCorr
  0.68WRHIX Ivy High IncomePairCorr
  0.67WHIAX Ivy High IncomePairCorr
  0.68IHIFX Ivy High IncomePairCorr
  0.68IVHIX Ivy High IncomePairCorr
  0.89AMPFX Amcap Fund ClassPairCorr
  0.67LBHIX Thrivent High YieldPairCorr
  0.83JSOZX Jpmorgan Strategic IncomePairCorr
  0.63PASCX All Asset FundPairCorr
  0.86SBACX Sentinel BalancedPairCorr
  0.87FRBLX Fidelity Advisor FreedomPairCorr
  0.78DIEAX Dreyfus InternationalPairCorr

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   
NGCAX
+ 0.93
MCHFX
EVCGX
+ 0.74
NGCAX
EVCGX
+ 0.68
MCHFX
EVCGX
+ 0.64
IASMX
NGCAX
+ 0.56
IASMX
MCHFX
+ 0.5
IASMX
  
High negative correlations   
EVCGX
- 0.0
USCOX
NGCAX
- 0.0
USCOX
MCHFX
- 0.0
USCOX
USCOX
- 0.0
IASMX

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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