Guinness Atkinson Correlations

Mutual Funds . USA . 
Fund . Guinness Atkinson Global
IWIRX Fund  USD 61.77  0.32  0.52%   
The current 90-days correlation between Guinness Atkinson Global and Guinness Atkinson Asia is 0.72 (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

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 metropolitan statistical area.

Moving together with Guinness Mutual Fund

  1.0GINNX Guinness Atkinson GlobalPairCorr
  0.98IASMX Guinness Atkinson Asia Steady GrowthPairCorr
  0.91ICHKX Guinness Atkinson ChinaPairCorr
  0.98GAAEX Guinness AtkinsonPairCorr
  0.88GAGEX Guinness Atkinson GlobalPairCorr
  1.0FNFPX American Funds NewPairCorr
  1.0FFPNX American Funds NewPairCorr
  1.0NPFCX New PerspectivePairCorr
  1.0ANWPX New PerspectivePairCorr
  1.0NPFFX New PerspectivePairCorr
  1.0CNPAX New PerspectivePairCorr
  1.0CNPEX New PerspectivePairCorr
  1.0CNPFX New PerspectivePairCorr
  1.0CNPCX New PerspectivePairCorr
  1.0RNPAX New PerspectivePairCorr
  0.96SMPIX Semiconductor Ultrasector Steady GrowthPairCorr
  0.96SMPSX Semiconductor Ultrasector Steady GrowthPairCorr
  0.93TTEEX T Rowe PricePairCorr
  0.93TREMX T Rowe PricePairCorr
  0.98FIKGX Fidelity Advisor SemPairCorr
  0.97ONERX One Rock Fund Steady GrowthPairCorr
  0.98FELCX Fidelity Advisor SemPairCorr
  0.98FELIX Fidelity Advisor SemPairCorr
  0.98FSELX Fidelity Select SemiPairCorr
  0.98FELAX Fidelity Advisor SemPairCorr
  1.0GGRCX Goldman Sachs StrategicPairCorr
  1.0FRCHX Fidelity Freedom BlendPairCorr
  0.99ERIFX Eaton Vance BalancedPairCorr
  0.88ESPCX Wells Fargo AdvantagePairCorr
  0.95FSCRX Fidelity Small CapPairCorr
  0.94IJPMX Vy Jpmorgan MidPairCorr
  0.99PLTQX Principal Lifetime HybridPairCorr
  0.97VMVIX Vanguard Mid CapPairCorr
  0.86NRCFX Aew Real EstatePairCorr
  0.99JOEIX Johcm Emerging MarketsPairCorr
  0.99QWVPX Clearwater E EquityPairCorr
  0.96CDAZX Multi Manager DirectPairCorr
  0.97FHLFX Fidelity Series IntePairCorr
  0.97DDDAX 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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