Matthews India Correlations

MINDX Fund

USD 31.99 0.22 0.68%

The current 90-days correlation between Matthews India and Oil Gas Ultrasector is 0.07 (i.e., Significant diversification). The correlation of Matthews India 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 India Correlation With Market

Very weak diversification

The correlation between Matthews India Fund and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Matthews India 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 India 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 unemployment.

Moving together with Matthews Mutual Fund

0.77	MACSX	Matthews Asian Growth	Pair Corr
0.88	MAPIX	Matthews Asia Dividend	Pair Corr
0.77	MICSX	Matthews Asian Growth	Pair Corr
0.94	MIDNX	Matthews India	Pair Corr
0.72	MIJFX	Matthews Japan	Pair Corr
0.87	MIPIX	Matthews Asia Dividend	Pair Corr
0.72	MJFOX	Matthews Japan	Pair Corr
0.95	WAINX	Wasatch Emerging India	Pair Corr
0.95	WIINX	Wasatch Emerging India	Pair Corr
0.82	INDAX	Alpskotak India Growth	Pair Corr
0.87	INFCX	Alpskotak India Growth	Pair Corr
0.88	INAAX	Alpskotak India Growth	Pair Corr
0.98	ECGIX	Eaton Vance Greater	Pair Corr
0.98	ETGIX	Eaton Vance Greater	Pair Corr
0.98	EGIIX	Eaton Vance Greater	Pair Corr

Moving against Matthews Mutual Fund

0.32	MCSMX	Matthews China Small Steady Growth	Pair Corr
0.32	MICHX	Matthews China Small Steady Growth	Pair Corr

Related Correlations Analysis

	ENPSX	VIASP	RRTLX	KNF	KMX	SEIC	KOS	EMBC	KOP	KOD
ENPSX		-0.26	-0.4	-0.36	0.16	-0.04	0.82	-0.4	0.44	0.38	ENPSX
VIASP	-0.26		0.36	0.21	-0.14	0.14	-0.43	0.13	0.1	-0.43	VIASP
RRTLX	-0.4	0.36		0.79	0.39	0.74	-0.64	0.5	0.2	0.09	RRTLX
KNF	-0.36	0.21	0.79		0.28	0.79	-0.5	0.57	0.24	0.34	KNF
KMX	0.16	-0.14	0.39	0.28		0.59	0.05	0.48	0.76	0.63	KMX
SEIC	-0.04	0.14	0.74	0.79	0.59		-0.2	0.42	0.52	0.49	SEIC
KOS	0.82	-0.43	-0.64	-0.5	0.05	-0.2		-0.57	0.26	0.36	KOS
EMBC	-0.4	0.13	0.5	0.57	0.48	0.42	-0.57		0.37	0.2	EMBC
KOP	0.44	0.1	0.2	0.24	0.76	0.52	0.26	0.37		0.61	KOP
KOD	0.38	-0.43	0.09	0.34	0.63	0.49	0.36	0.2	0.61		KOD
	ENPSX	VIASP	RRTLX	KNF	KMX	SEIC	KOS	EMBC	KOP	KOD

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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

KOS	+ 0.82	ENPSX
KNF	+ 0.79	RRTLX
SEIC	+ 0.79	KNF
KOP	+ 0.76	KMX
SEIC	+ 0.74	RRTLX
KOD	+ 0.63	KMX

High negative correlations

KOS	- 0.64	RRTLX
EMBC	- 0.57	KOS
KOS	- 0.5	KNF
KOD	- 0.43	VIASP
KOS	- 0.43	VIASP
EMBC	- 0.4	ENPSX

Risk-Adjusted Indicators

There is a big difference between Matthews Mutual Fund performing well and Matthews India 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 India'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
ENPSX	1.37	(0.13)	0.00	(0.48)	0.00	0.00	2.29	(3.67)	9.31
VIASP	1.65	(0.11)	0.00	(0.52)	0.00	0.00	3.41	(4.97)	13.57
RRTLX	0.31	0.05	(0.13)	(3.09)	0.30	(0.35)	0.73	(0.64)	1.97
KNF	1.81	0.16	0.09	0.20	2.28	(1.87)	4.32	(4.04)	12.04
KMX	1.76	(0.07)	0.02	0.07	2.00	(1.76)	4.42	(3.36)	11.16
SEIC	0.99	(0.06)	(0.03)	0.06	1.30	(1.04)	2.13	(2.56)	6.12
KOS	2.40	(0.74)	0.00	(0.28)	0.00	0.00	4.35	(6.33)	12.23
EMBC	2.56	0.18	0.07	0.24	2.81	(2.73)	6.55	(5.03)	23.24
KOP	1.54	(0.19)	(0.05)	0.00	2.29	(1.49)	3.46	(4.20)	10.32
KOD	3.97	(0.06)	0.02	0.08	4.59	(4.45)	8.70	(7.27)	19.11

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