Taiwan Closed Correlations

TWN Fund

USD 45.35 0.07 0.15%

The current 90-days correlation between Taiwan Closed and Mexico Closed is 0.12 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Taiwan Closed moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Taiwan Closed moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Taiwan Closed Correlation With Market

Weak diversification

The correlation between Taiwan Closed and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Taiwan Closed and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Taiwan Closed. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with Taiwan Fund

0.73	NHS	Neuberger Berman High	Pair Corr
0.98	GCMDX	Goldman Sachs Local	Pair Corr
0.95	GPPSX	Goldman Sachs Short	Pair Corr
0.97	ADNIX	Amer Beacon Ark Steady Growth	Pair Corr
0.61	FICMX	Federated Government	Pair Corr
0.64	VRREX	Virtus Real Estate	Pair Corr
0.72	BCPAX	Brandes E Plus	Pair Corr
0.96	FLCNX	Fidelity Contrafund	Pair Corr
0.93	FTZFX	Fuller Thaler Behavioral	Pair Corr
0.95	NWOBX	Nationwide Destination	Pair Corr
0.96	QIBGX	Federated Mdt Balanced	Pair Corr
0.86	IORLX	Aim Taxexempt Funds	Pair Corr
0.81	FUFRX	Franklin Utilities	Pair Corr
0.96	CHY	Calamos Convertible And	Pair Corr
0.95	TWGIX	Growth Fund I	Pair Corr
0.96	KAMCX	Kensington Managed Income	Pair Corr
0.94	OAZMX	Oakmark Fund R6	Pair Corr
0.95	JGMCX	Janus Triton	Pair Corr
0.96	AONIX	One Choice Portfolio	Pair Corr
0.97	BLARX	Lord Abbett Balanced	Pair Corr
0.95	EISIX	Eagle International Stock	Pair Corr
0.93	TNBIX	1290 Smartbeta Equity	Pair Corr
0.96	CSGCX	Calvert Balanced Por	Pair Corr
0.95	ETIMX	Eventide Multi Asset	Pair Corr
0.98	MISMX	Matthews Asia Small	Pair Corr
0.95	OPTIX	Oppenheimer Capital	Pair Corr
0.98	BUBSX	Baird Ultra Short	Pair Corr
0.9	DCARX	Dfa California Municipal	Pair Corr
0.97	NBPIX	Neuberger Berman Large	Pair Corr
0.91	ETJ	Eaton Vance Risk	Pair Corr
0.98	FEFAX	First Eagle Fund	Pair Corr
0.96	BGHSX	Brandywineglobal High	Pair Corr
0.97	CLREX	Columbia Balanced	Pair Corr
0.96	DPRRX	Delaware Reit	Pair Corr
0.72	GLEAX	Goldman Sachs Mlp	Pair Corr
0.93	PGBEX	Blue Chip Fund	Pair Corr
0.96	APDMX	Artisan Mid Cap	Pair Corr
0.96	TEMUX	Emerging Markets Equity	Pair Corr
0.97	FAHYX	Fidelity Advisor High	Pair Corr
0.93	PEO	Adams Natural Resources	Pair Corr

Related Correlations Analysis

	MXF	NXG	CEE	JOF	MCR	EEA	JEQ	KF	SWZ	GF
MXF		0.94	0.76	0.95	0.95	0.96	0.96	0.87	-0.32	0.95	MXF
NXG	0.94		0.72	0.93	0.97	0.94	0.95	0.88	-0.2	0.94	NXG
CEE	0.76	0.72		0.68	0.77	0.77	0.76	0.45	-0.35	0.69	CEE
JOF	0.95	0.93	0.68		0.94	0.95	0.95	0.88	-0.3	0.96	JOF
MCR	0.95	0.97	0.77	0.94		0.97	0.96	0.86	-0.3	0.95	MCR
EEA	0.96	0.94	0.77	0.95	0.97		0.95	0.88	-0.32	0.98	EEA
JEQ	0.96	0.95	0.76	0.95	0.96	0.95		0.84	-0.26	0.94	JEQ
KF	0.87	0.88	0.45	0.88	0.86	0.88	0.84		-0.17	0.89	KF
SWZ	-0.32	-0.2	-0.35	-0.3	-0.3	-0.32	-0.26	-0.17		-0.26	SWZ
GF	0.95	0.94	0.69	0.96	0.95	0.98	0.94	0.89	-0.26		GF
	MXF	NXG	CEE	JOF	MCR	EEA	JEQ	KF	SWZ	GF

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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

GF	+ 0.98	EEA
MCR	+ 0.97	NXG
EEA	+ 0.97	MCR
EEA	+ 0.96	MXF
JEQ	+ 0.96	MXF
GF	+ 0.96	JOF

High negative correlations

SWZ	- 0.35	CEE
SWZ	- 0.32	EEA
SWZ	- 0.32	MXF
SWZ	- 0.3	MCR
SWZ	- 0.3	JOF
GF	- 0.26	SWZ

Risk-Adjusted Indicators

There is a big difference between Taiwan Fund performing well and Taiwan Closed 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 Taiwan Closed'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
MXF	0.89	0.28	0.17	2.09	0.64	(1.10)	2.33	(1.17)	5.58
NXG	1.02	0.18	0.11	0.37	1.10	(1.16)	3.08	(1.90)	6.89
CEE	1.16	0.20	0.08	0.54	1.39	(1.20)	2.98	(1.96)	9.61
JOF	0.76	0.20	0.14	0.57	0.53	(0.95)	1.97	(1.04)	5.84
MCR	0.32	0.09	(0.05)	0.72	0.00	(0.42)	0.82	(0.49)	2.01
EEA	0.55	0.19	0.16	0.83	0.11	(0.69)	1.33	(0.81)	2.99
JEQ	0.84	0.12	0.07	0.31	0.84	(0.96)	2.00	(1.42)	6.55
KF	1.03	0.45	0.26	1.95	0.88	(1.23)	2.60	(1.96)	8.17
SWZ	1.15	(0.61)	0.00	(0.87)	0.00	0.00	1.12	(1.42)	31.77
GF	0.85	0.29	0.20	1.22	0.53	(0.99)	2.06	(1.19)	4.49

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