Ashmore Emerging Correlations

Mutual Funds . USA . 
Fund . Ashmore Emerging Markets
EMECX Fund  USD 11.96  0.02  0.17%   
The current 90-days correlation between Ashmore Emerging Markets and Allianzgi Technology Fund is 0.65 (i.e., 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

Very weak diversification

The correlation between Ashmore Emerging Markets and DJI is 0.59 (i.e., Very weak 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

  0.91EMCIX Ashmore Emerging MarketsPairCorr
  1.0EMEAX Ashmore Emerging MarketsPairCorr
  0.93EMKIX Ashmore Emerging MarketsPairCorr
  0.92EMKCX Ashmore Emerging MarketsPairCorr
  0.93EMKAX Ashmore Emerging MarketsPairCorr
  0.99EMQIX Ashmore Emerging MarketsPairCorr
  1.0EMQCX Ashmore Emerging MarketsPairCorr
  1.0EMQAX Ashmore Emerging MarketsPairCorr
  0.98EMXIX Ashmore Emerging MarketsPairCorr
  0.98EMXCX Ashmore Emerging MarketsPairCorr
  0.98EMXAX Ashmore Emerging MarketsPairCorr
  1.0ESAGX Ashmore Emerging MarketsPairCorr
  0.99ESCIX Ashmore Emerging MarketsPairCorr
  1.0ESIGX Ashmore Emerging MarketsPairCorr
  0.99ESSCX Ashmore Emerging MarketsPairCorr
  0.99ESSAX Ashmore Emerging MarketsPairCorr
  0.91ECDCX Ashmore Emerging MarketsPairCorr
  0.88ECDAX Ashmore Emerging MarketsPairCorr
  0.95EFEIX Ashmore Emerging MarketsPairCorr
  0.95EFECX Ashmore Emerging MarketsPairCorr
  0.94EFEAX Ashmore Emerging MarketsPairCorr
  0.93IGCEX Ashmore Emerging MarketsPairCorr
  0.93IGIEX Ashmore Emerging MarketsPairCorr
  0.93ELBIX Ashmore Emerging MarketsPairCorr
  0.93ELBCX Ashmore Emerging MarketsPairCorr
  1.0VEMAX Vanguard Emerging MarketsPairCorr
  1.0VEIEX Vanguard Emerging MarketsPairCorr
  1.0VEMIX Vanguard Emerging MarketsPairCorr
  1.0VEMRX Vanguard Emerging MarketsPairCorr
  1.0FWWNX American Funds NewPairCorr
  1.0FNFWX American Funds NewPairCorr
  1.0NEWFX New World FundPairCorr
  1.0NWFFX New World FundPairCorr
  1.0NEWCX New World FundPairCorr
  0.99ODVYX Oppenheimer DevelopingPairCorr
  0.99VTSAX Vanguard Total StockPairCorr

Moving against Ashmore Mutual Fund

  0.53ESFCX Ashmore Emerging MarketsPairCorr
  0.47ESFAX 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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