Ashmore Emerging Correlations

Mutual Funds . USA . 
Fund . Ashmore Emerging Markets
ELBCX Fund  USD 6.43  0.02  0.31%   
The current 90-days correlation between Ashmore Emerging Markets and Fidelity Capital Income is -0.04 (i.e., Good 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

Average diversification

The correlation between Ashmore Emerging Markets and DJI is 0.1 (i.e., Average 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 main economic indicators.

Moving together with Ashmore Mutual Fund

  0.88EMCIX Ashmore Emerging MarketsPairCorr
  0.92EMECX Ashmore Emerging MarketsPairCorr
  0.91EMEAX Ashmore Emerging MarketsPairCorr
  0.8EMFIX Ashmore Emerging MarketsPairCorr
  0.9EMKIX Ashmore Emerging MarketsPairCorr
  0.97EMKCX Ashmore Emerging MarketsPairCorr
  0.96EMKAX Ashmore Emerging MarketsPairCorr
  0.82EMQIX Ashmore Emerging MarketsPairCorr
  0.82EMQCX Ashmore Emerging MarketsPairCorr
  0.82EMQAX Ashmore Emerging MarketsPairCorr
  0.86EMXIX Ashmore Emerging MarketsPairCorr
  0.95EMXAX Ashmore Emerging MarketsPairCorr
  0.8ESAGX Ashmore Emerging MarketsPairCorr
  0.83ESCIX Ashmore Emerging MarketsPairCorr
  0.92ESCGX Ashmore Emerging MarketsPairCorr
  0.93ESSCX Ashmore Emerging MarketsPairCorr
  0.87ECDCX Ashmore Emerging MarketsPairCorr
  0.8ECDAX Ashmore Emerging MarketsPairCorr
  0.82EFEIX Ashmore Emerging MarketsPairCorr
  0.82EFECX Ashmore Emerging MarketsPairCorr
  0.77EFEAX Ashmore Emerging MarketsPairCorr
  0.94IGCEX Ashmore Emerging MarketsPairCorr
  0.61IGIEX Ashmore Emerging MarketsPairCorr
  0.62ELBIX Ashmore Emerging MarketsPairCorr
  0.61ELBAX Ashmore Emerging MarketsPairCorr
  0.88PLMPX Pimco Emerging MarketsPairCorr
  0.87PLMIX Pimco Emerging MarketsPairCorr
  0.99PELPX Pimco Emerging LocalPairCorr
  0.9PELBX Pimco Emerging LocalPairCorr
  0.9PELAX Pimco Emerging LocalPairCorr
  0.9PELCX Pimco Emerging LocalPairCorr
  0.99PELNX Pimco Emerging LocalPairCorr
  0.9EEIAX Eaton Vance EmergingPairCorr

Moving against Ashmore Mutual Fund

  0.46ESFCX Ashmore Emerging MarketsPairCorr
  0.4ESFAX Ashmore Emerging MarketsPairCorr

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.

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