Ashmore Emerging Correlations

Mutual Funds . USA . 
Fund . Ashmore Emerging Markets
ECDAX Fund  USD 5.46  0.01  0.18%   
The current 90-days correlation between Ashmore Emerging Markets and Ashmore Emerging Markets is 0.83 (i.e., Very poor diversification). The correlation of Ashmore Emerging 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.

Ashmore Emerging Correlation With Market

Good diversification

The correlation between Ashmore Emerging Markets and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ashmore Emerging Markets and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Ashmore Emerging Markets. 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 nation.

Moving together with Ashmore Mutual Fund

  0.97EMCIX Ashmore Emerging MarketsPairCorr
  0.88EMECX Ashmore Emerging MarketsPairCorr
  0.88EMEAX Ashmore Emerging MarketsPairCorr
  0.95EMKIX Ashmore Emerging MarketsPairCorr
  0.95EMKCX Ashmore Emerging MarketsPairCorr
  0.95EMKAX Ashmore Emerging MarketsPairCorr
  0.89EMQIX Ashmore Emerging MarketsPairCorr
  0.89EMQCX Ashmore Emerging MarketsPairCorr
  0.89EMQAX Ashmore Emerging MarketsPairCorr
  0.89EMXIX Ashmore Emerging MarketsPairCorr
  0.9EMXCX Ashmore Emerging MarketsPairCorr
  0.9EMXAX Ashmore Emerging MarketsPairCorr
  0.88ESAGX Ashmore Emerging MarketsPairCorr
  0.88ESCIX Ashmore Emerging MarketsPairCorr
  0.89ESIGX Ashmore Emerging MarketsPairCorr
  0.88ESSCX Ashmore Emerging MarketsPairCorr
  0.88ESSAX Ashmore Emerging MarketsPairCorr
  0.95ECDCX Ashmore Emerging MarketsPairCorr
  0.83EFEIX Ashmore Emerging MarketsPairCorr
  0.83EFECX Ashmore Emerging MarketsPairCorr
  0.8EFEAX Ashmore Emerging MarketsPairCorr
  0.94IGCEX Ashmore Emerging MarketsPairCorr
  0.9ELBIX Ashmore Emerging MarketsPairCorr
  0.9ELBCX Ashmore Emerging MarketsPairCorr
  0.93FGBMX Fidelity New MarketsPairCorr
  0.95FGZMX Fidelity New MarketsPairCorr
  0.93FGYMX Fidelity New MarketsPairCorr
  0.94MEDCX Mfs Emerging MarketsPairCorr
  0.92MEDAX Mfs Emerging MarketsPairCorr
  0.92MEDBX Mfs Emerging MarketsPairCorr
  0.93MEDEX Mfs Emerging MarketsPairCorr
  0.8MGGYX Mirova Global GreenPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Ashmore Mutual Fund performing well and Ashmore Emerging 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 Ashmore Emerging'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
EMCIX  0.18  0.05 (0.43) 4.11  0.00 
(0.31)
 0.54 
(0.18)
 1.26 
EMECX  0.61  0.20  0.18  0.51  0.23 
(0.77)
 1.61 
(0.81)
 4.50 
EMEAX  0.62  0.29  0.21 (10.82) 0.12 
(0.78)
 1.64 
(0.86)
 4.63 
EMFIX  0.60  0.21  0.19  0.52  0.13 
(0.79)
 1.64 
(0.86)
 4.57 
EMKIX  0.22  0.08 (0.17)(13.77) 0.00 
(0.32)
 0.59 
(0.39)
 1.62 
EMKCX  0.20  0.06 (0.24)(2.93) 0.00 
(0.32)
 0.60 
(0.40)
 1.46 
EMKAX  0.20  0.07 (0.24)(2.37) 0.00 
(0.33)
 0.42 
(0.39)
 1.45 
EMQIX  0.53  0.19  0.19  0.54  0.00 
(0.65)
 1.42 
(0.78)
 4.16 
EMQCX  0.53  0.18  0.18  0.54  0.00 
(0.66)
 1.49 
(0.70)
 4.21 
EMQAX  0.56  0.26  0.20 (6.53) 0.00 
(0.74)
 1.57 
(0.78)
 4.31 

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