Ashmore Emerging Correlations

EFECX Fund

USD 11.46 0.06 0.53%

The current 90-days correlation between Ashmore Emerging Markets and Elfun Diversified Fund is 0.17 (i.e., Average 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

Modest diversification

The correlation between Ashmore Emerging Markets and DJI is 0.21 (i.e., Modest 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 private.

Moving together with Ashmore Mutual Fund

0.94	EFEIX	Ashmore Emerging Markets	Pair Corr
0.95	EFEAX	Ashmore Emerging Markets	Pair Corr
0.65	MGHRX	Morgan Stanley Insti	Pair Corr
0.65	MGRPX	Growth Portfolio Class	Pair Corr
0.65	MCRTX	Morgan Stanley Multi	Pair Corr
0.61	MSGUX	Growth Portfolio Class	Pair Corr
0.61	MSCMX	Morgan Stanley Multi	Pair Corr

Moving against Ashmore Mutual Fund

0.67	IGAEX	Ashmore Emerging Markets	Pair Corr
0.67	IGIEX	Ashmore Emerging Markets	Pair Corr
0.66	EMKIX	Ashmore Emerging Markets	Pair Corr
0.66	EMKCX	Ashmore Emerging Markets	Pair Corr
0.66	EMKAX	Ashmore Emerging Markets	Pair Corr
0.66	IGCEX	Ashmore Emerging Markets	Pair Corr
0.61	ECDAX	Ashmore Emerging Markets	Pair Corr
0.59	ELBIX	Ashmore Emerging Markets	Pair Corr
0.47	EMXIX	Ashmore Emerging Markets	Pair Corr
0.47	EMXCX	Ashmore Emerging Markets	Pair Corr
0.47	EMXAX	Ashmore Emerging Markets	Pair Corr
0.43	ESCGX	Ashmore Emerging Markets	Pair Corr
0.42	EMFIX	Ashmore Emerging Markets	Pair Corr
0.34	ESSCX	Ashmore Emerging Markets	Pair Corr
0.32	ESCIX	Ashmore Emerging Markets	Pair Corr
0.59	BIGRX	Income Growth	Pair Corr
0.59	EKBAX	Wells Fargo Diversified	Pair Corr
0.56	BSHIX	Hawaii Municipal Bond	Pair Corr
0.45	ODVYX	Oppenheimer Developing	Pair Corr
0.43	ACCNX	Core Plus Fund	Pair Corr
0.42	FWWNX	American Funds New	Pair Corr
0.42	NEWFX	New World Fund	Pair Corr
0.41	FNFWX	American Funds New	Pair Corr
0.4	NWFFX	New World Fund	Pair Corr
0.4	NEWCX	New World Fund	Pair Corr
0.31	VEMRX	Vanguard Emerging Markets	Pair Corr

Related Correlations Analysis

	ELDFX	VDSCX	WDIAX	EIIMX	PHTYX	CDEYX	PDNIX
ELDFX		0.89	0.85	0.79	0.99	0.84	0.85	ELDFX
VDSCX	0.89		0.92	0.87	0.87	0.95	0.9	VDSCX
WDIAX	0.85	0.92		0.87	0.85	0.94	0.85	WDIAX
EIIMX	0.79	0.87	0.87		0.77	0.82	0.93	EIIMX
PHTYX	0.99	0.87	0.85	0.77		0.85	0.82	PHTYX
CDEYX	0.84	0.95	0.94	0.82	0.85		0.84	CDEYX
PDNIX	0.85	0.9	0.85	0.93	0.82	0.84		PDNIX
	ELDFX	VDSCX	WDIAX	EIIMX	PHTYX	CDEYX	PDNIX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ELDFX	0.35	0.02	(0.01)	0.10	0.46	(0.36)	0.77	(0.72)	2.26
VDSCX	0.63	0.10	0.05	0.80	0.85	(0.64)	1.19	(1.27)	3.87
WDIAX	0.46	0.07	0.01	0.89	0.41	(0.58)	0.97	(0.99)	2.67
EIIMX	0.14	0.01	(0.21)	0.51	0.00	(0.19)	0.30	(0.29)	0.74
PHTYX	0.48	0.02	0.01	0.09	0.64	(0.48)	1.02	(1.00)	3.22
CDEYX	0.50	0.08	0.04	0.56	0.58	(0.54)	1.08	(0.96)	3.28
PDNIX	0.14	0.04	(0.14)	1.91	0.00	(0.20)	0.31	(0.20)	0.82

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