Matthews Asia Correlations

Mutual Funds . USA . 
Fund . Matthews Asia Dividend
MAPIX Fund  USD 15.79  0.04  0.25%   
The current 90-days correlation between Matthews Asia Dividend and Matthews Pacific Tiger is 0.92 (i.e., Almost no diversification). The correlation of Matthews Asia 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.

Matthews Asia Correlation With Market

Poor diversification

The correlation between Matthews Asia Dividend and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Matthews Asia Dividend and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Matthews Asia Dividend. 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 gross domestic product.

Moving together with Matthews Mutual Fund

  0.98MPACX Matthews Asia GrowthPairCorr
  0.99MAPTX Matthews Pacific TigerPairCorr
  0.99MATFX Matthews Asia InnovatorsPairCorr
  0.99MSMLX Matthews Asia SmallPairCorr
  0.96MCSMX Matthews China SmallPairCorr
  0.96MICHX Matthews China SmallPairCorr
  0.91MIDNX Matthews IndiaPairCorr
  0.96MIJFX Matthews JapanPairCorr
  0.91MINDX Matthews IndiaPairCorr
  1.0MIPIX Matthews Asia DividendPairCorr
  0.96MIPTX Matthews Pacific TigerPairCorr
  0.96MJFOX Matthews JapanPairCorr
  0.99VPADX Vanguard Pacific StockPairCorr
  0.99VPKIX Vanguard Pacific StockPairCorr
  0.99VPACX Vanguard Pacific StockPairCorr
  1.0FPBFX Fidelity Pacific BasinPairCorr
  0.96MIAPX Matthews Asia GrowthPairCorr
  0.93SMPSX Semiconductor Ultrasector Steady GrowthPairCorr
  0.94SMPIX Semiconductor Ultrasector Steady GrowthPairCorr
  0.97ONERX One Rock FundPairCorr
  0.96TTEEX T Rowe PricePairCorr
  0.97TREMX T Rowe PricePairCorr
  0.96RMQAX Monthly RebalancePairCorr
  0.97RMQHX Monthly RebalancePairCorr
  0.97RMQCX Monthly RebalancePairCorr
  0.95FELIX Fidelity Advisor SemPairCorr
  0.96FSELX Fidelity Select SemiPairCorr
  0.96BTECX Baron Select FundsPairCorr
  0.96NADMX Nationwide InvestorPairCorr
  0.97ASCQX Small Pany FundPairCorr
  0.97TWQIX Transamerica Large CapPairCorr
  0.99RRTRX T Rowe PricePairCorr
  0.95PFCOX Pfg American FundsPairCorr
  0.99VTMGX Vanguard DevelopedPairCorr
  0.96HICSX Harbor Vertible SecuPairCorr
  0.96QWVOX Clearwater Small PaniesPairCorr
  0.97FSSNX Fidelity Small CapPairCorr
  0.97BHYAX Blackrock High YieldPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Matthews Mutual Fund performing well and Matthews Asia 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 Matthews Asia'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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
MAPTX  0.79  0.13  0.03  0.46  0.68 
(0.91)
 2.93 
(1.52)
 6.58 
MCHFX  1.11 (0.01)(0.05) 0.22  1.48 
(1.37)
 2.81 
(1.89)
 7.57 
MINDX  0.81  0.08 (0.07) 0.49  0.92 
(0.86)
 2.16 
(1.75)
 5.49 
MPACX  0.84  0.11  0.04  0.38  0.62 
(1.01)
 2.33 
(1.59)
 8.46 
VSIAX  1.05  0.03  0.04  0.26  1.10 
(1.19)
 2.36 
(2.02)
 12.86 
HICSX  0.56  0.20 (0.09)(1.07) 0.48 
(0.66)
 1.13 
(1.19)
 5.54 
WCQGX  1.02  0.03 (0.03) 0.28  1.49 
(1.11)
 2.91 
(2.00)
 6.97 
APHNX  0.74  0.04  0.01  0.28  0.53 
(0.88)
 1.89 
(1.48)
 9.51 
FACNX  0.74  0.25 (0.02)(0.90) 1.06 
(0.78)
 1.29 
(1.53)
 8.52 
BHYAX  0.19  0.06 (0.37)(3.39) 0.10 
(0.26)
 0.59 
(0.29)
 1.16 

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