Matthews Japan Correlations

Mutual Funds . USA . 
Fund . Matthews Japan Fund
MIJFX Fund  USD 21.74  0.20  0.91%   
The current 90-days correlation between Matthews Japan and Hennessy Japan Fund is 0.91 (i.e., Almost no diversification). The correlation of Matthews Japan 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 Japan Correlation With Market

Very weak diversification

The correlation between Matthews Japan Fund and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Matthews Japan Fund 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 Japan Fund. 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 census.

Moving together with Matthews Mutual Fund

  0.9MPACX Matthews Asia GrowthPairCorr
  0.83MAPTX Matthews Pacific TigerPairCorr
  0.81MASGX Matthews Asia EsgPairCorr
  0.81MATFX Matthews Asia Innovators Steady GrowthPairCorr
  0.81MSMLX Matthews Asia SmallPairCorr
  0.75MCDFX Matthews China DividendPairCorr
  0.7MCHFX Matthews China Steady GrowthPairCorr
  0.66MCSMX Matthews China Small Steady GrowthPairCorr
  0.83MEGMX Matthews Emerging MarketsPairCorr
  0.79MICDX Matthews China DividendPairCorr
  0.7MICHX Matthews China Small Steady GrowthPairCorr
  0.72MICFX Matthews China Steady GrowthPairCorr
  0.77MIDNX Matthews IndiaPairCorr
  0.75MINDX Matthews IndiaPairCorr
  0.83MIPTX Matthews Pacific TigerPairCorr
  0.81MITEX Matthews Asia Innovators Steady GrowthPairCorr
  0.81MISFX Matthews Asia EsgPairCorr
  0.81MISMX Matthews Asia SmallPairCorr
  1.0MJFOX Matthews JapanPairCorr
  0.95FJPNX Fidelity JapanPairCorr
  0.64FIQLX Fidelity JapanPairCorr
  0.93PRJPX T Rowe PricePairCorr
  0.89FJSCX Fidelity Japan SmallerPairCorr
  0.95FSJPX Fidelity Sai JapanPairCorr
  0.76PFN Pimco Income StrategyPairCorr
  0.83CIF Mfs Intermediate HighPairCorr
  0.85PCF Putnam High IncomePairCorr
  0.82RPSIX Spectrum IncomePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Matthews Mutual Fund performing well and Matthews Japan 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 Japan'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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