Matthews China Correlations

MICDX Fund

USD 13.81 0.08 0.58%

The current 90-days correlation between Matthews China Dividend and Guinness Atkinson China is 0.86 (i.e., Very poor diversification). The correlation of Matthews China 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 China Correlation With Market

Very weak diversification

The correlation between Matthews China Dividend and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Matthews China 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 China 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 unemployment.

Moving together with Matthews Mutual Fund

0.95	MPACX	Matthews Asia Growth	Pair Corr
0.98	MAPTX	Matthews Pacific Tiger	Pair Corr
0.95	MAPIX	Matthews Asia Dividend	Pair Corr
0.95	MASGX	Matthews Asia Esg	Pair Corr
0.98	MATFX	Matthews Asia Innovators Steady Growth	Pair Corr
0.95	MSMLX	Matthews Asia Small	Pair Corr
1.0	MCDFX	Matthews China Dividend	Pair Corr
0.99	MCHFX	Matthews China Steady Growth	Pair Corr
0.97	MCSMX	Matthews China Small Steady Growth	Pair Corr
0.96	MEGMX	Matthews Emerging Markets	Pair Corr
0.97	MICHX	Matthews China Small Steady Growth	Pair Corr
0.77	MIDNX	Matthews India	Pair Corr
0.74	MIJFX	Matthews Japan	Pair Corr
0.77	MINDX	Matthews India	Pair Corr
0.95	MIPIX	Matthews Asia Dividend	Pair Corr
0.98	MIPTX	Matthews Pacific Tiger	Pair Corr
0.98	MITEX	Matthews Asia Innovators Steady Growth	Pair Corr
0.95	MISFX	Matthews Asia Esg	Pair Corr
0.95	MISMX	Matthews Asia Small	Pair Corr
0.74	MJFOX	Matthews Japan	Pair Corr
0.98	FHKTX	Fidelity China Region Steady Growth	Pair Corr
0.98	FCHKX	Fidelity China Region Steady Growth	Pair Corr
0.98	FHKAX	Fidelity China Region Steady Growth	Pair Corr
0.98	FHKIX	Fidelity China Region Steady Growth	Pair Corr
0.98	FIQFX	Fidelity China Region Steady Growth	Pair Corr
0.98	FHKCX	Fidelity China Region Steady Growth	Pair Corr
0.92	PDI	Pimco Dynamic Income	Pair Corr
0.91	FTCAX	Templeton Strained Bond	Pair Corr
0.93	AVCNX	American Century Etf	Pair Corr
0.97	DILCX	Davis International	Pair Corr

Moving against Matthews Mutual Fund

0.94	USPSX	Profunds Ultrashort	Pair Corr
0.94	USPIX	Profunds Ultrashort	Pair Corr
0.93	UIPIX	Ultrashort Mid Cap	Pair Corr
0.74	TCTGX	Transamerica Cleartrack	Pair Corr
0.73	TDKTX	Cleartrack 2015 Class	Pair Corr
0.73	TCTJX	Transamerica Cleartrack	Pair Corr
0.71	TCSUX	Cleartrack 2020 Class	Pair Corr

Related Correlations Analysis

	ICHKX	MAPTX	MINDX	OBCHX	MPACX	MAPIX	MASGX	MATFX	MSMLX	MCDFX
ICHKX		0.95	0.73	0.94	0.94	0.91	0.9	0.95	0.89	0.98	ICHKX
MAPTX	0.95		0.82	0.97	0.98	0.99	0.98	1.0	0.97	0.98	MAPTX
MINDX	0.73	0.82		0.8	0.83	0.84	0.85	0.83	0.85	0.77	MINDX
OBCHX	0.94	0.97	0.8		0.96	0.97	0.97	0.98	0.97	0.98	OBCHX
MPACX	0.94	0.98	0.83	0.96		0.97	0.96	0.97	0.94	0.95	MPACX
MAPIX	0.91	0.99	0.84	0.97	0.97		0.99	0.99	0.98	0.95	MAPIX
MASGX	0.9	0.98	0.85	0.97	0.96	0.99		0.98	0.99	0.95	MASGX
MATFX	0.95	1.0	0.83	0.98	0.97	0.99	0.98		0.97	0.98	MATFX
MSMLX	0.89	0.97	0.85	0.97	0.94	0.98	0.99	0.97		0.95	MSMLX
MCDFX	0.98	0.98	0.77	0.98	0.95	0.95	0.95	0.98	0.95		MCDFX
	ICHKX	MAPTX	MINDX	OBCHX	MPACX	MAPIX	MASGX	MATFX	MSMLX	MCDFX

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Risk-Adjusted Indicators

There is a big difference between Matthews Mutual Fund performing well and Matthews China 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 China'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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ICHKX	0.67	0.10	0.02	0.37	0.51	(0.84)	1.76	(1.28)	4.62
MAPTX	0.60	0.21	0.19	0.63	0.23	(0.72)	1.47	(1.08)	4.54
MINDX	0.76	0.08	(0.02)	0.50	0.94	(0.81)	1.91	(1.75)	5.44
OBCHX	0.99	0.21	0.11	0.49	0.97	(1.13)	2.21	(2.04)	7.21
MPACX	0.65	0.16	0.13	0.44	0.43	(0.78)	2.28	(1.28)	4.16
MAPIX	0.47	0.16	0.13	0.55	0.00	(0.56)	1.59	(0.77)	3.65
MASGX	0.71	0.18	0.12	0.45	0.56	(0.87)	1.67	(1.30)	5.06
MATFX	0.72	0.24	0.22	0.62	0.26	(0.91)	2.11	(1.38)	4.86
MSMLX	0.71	0.21	0.14	0.55	0.56	(0.77)	1.81	(1.41)	4.50
MCDFX	0.66	0.12	0.07	0.42	0.46	(0.79)	2.01	(1.07)	4.22

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