Ashmore Emerging Correlations

EMKIX Fund

USD 5.26 0.01 0.19%

The current 90-days correlation between Ashmore Emerging Markets and Fidelity New Markets is 0.71 (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

Weak diversification

The correlation between Ashmore Emerging Markets and DJI is 0.33 (i.e., 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 gross domestic product.

Moving together with Ashmore Mutual Fund

0.88	EMCIX	Ashmore Emerging Markets	Pair Corr
0.93	EMECX	Ashmore Emerging Markets	Pair Corr
0.93	EMEAX	Ashmore Emerging Markets	Pair Corr
0.93	EMFIX	Ashmore Emerging Markets	Pair Corr
1.0	EMKCX	Ashmore Emerging Markets	Pair Corr
1.0	EMKAX	Ashmore Emerging Markets	Pair Corr
0.92	EMQIX	Ashmore Emerging Markets	Pair Corr
0.92	EMQCX	Ashmore Emerging Markets	Pair Corr
0.92	EMQAX	Ashmore Emerging Markets	Pair Corr
0.92	EMXIX	Ashmore Emerging Markets	Pair Corr
0.92	EMXCX	Ashmore Emerging Markets	Pair Corr
0.92	EMXAX	Ashmore Emerging Markets	Pair Corr
0.94	ESAGX	Ashmore Emerging Markets	Pair Corr
0.95	ESCIX	Ashmore Emerging Markets	Pair Corr
0.92	ESCGX	Ashmore Emerging Markets	Pair Corr
0.92	ESIGX	Ashmore Emerging Markets	Pair Corr
0.95	ESSCX	Ashmore Emerging Markets	Pair Corr
0.95	ESSAX	Ashmore Emerging Markets	Pair Corr
0.84	ECDCX	Ashmore Emerging Markets	Pair Corr
0.87	ECDAX	Ashmore Emerging Markets	Pair Corr
0.96	IGCEX	Ashmore Emerging Markets	Pair Corr
0.98	IGIEX	Ashmore Emerging Markets	Pair Corr
0.91	ELBIX	Ashmore Emerging Markets	Pair Corr
0.9	ELBCX	Ashmore Emerging Markets	Pair Corr
0.92	ELBAX	Ashmore Emerging Markets	Pair Corr
0.98	FGBMX	Fidelity New Markets	Pair Corr
0.98	FGZMX	Fidelity New Markets	Pair Corr
0.98	FGWMX	Fidelity New Markets	Pair Corr
0.98	FGVMX	Fidelity New Markets	Pair Corr
0.98	FGYMX	Fidelity New Markets	Pair Corr
0.98	MEDIX	Mfs Emerging Markets	Pair Corr
0.98	MEDCX	Mfs Emerging Markets	Pair Corr
0.98	MEDAX	Mfs Emerging Markets	Pair Corr

Moving against Ashmore Mutual Fund

0.45	EFECX	Ashmore Emerging Markets	Pair Corr
0.38	EFEIX	Ashmore Emerging Markets	Pair Corr
0.91	USPSX	Profunds Ultrashort	Pair Corr
0.91	USPIX	Profunds Ultrashort	Pair Corr
0.83	TCTGX	Transamerica Cleartrack	Pair Corr
0.83	TCTJX	Transamerica Cleartrack	Pair Corr
0.82	TDKTX	Cleartrack 2015 Class	Pair Corr
0.81	TCSUX	Cleartrack 2020 Class	Pair Corr
0.53	UIPIX	Ultrashort Mid Cap	Pair Corr
0.39	EFEAX	Ashmore Emerging Markets	Pair Corr

Related Correlations Analysis

	FGVMX	444859BR2	BRRAY	LBHIX	MSTSX	ABHYX	SCAXF	VIASP
FGVMX		-0.59	0.09	0.8	0.88	0.96	0.78	0.75	FGVMX
444859BR2	-0.59		-0.24	-0.14	-0.4	-0.43	-0.69	-0.4	444859BR2
BRRAY	0.09	-0.24		-0.1	-0.07	0.03	0.24	0.05	BRRAY
LBHIX	0.8	-0.14	-0.1		0.84	0.83	0.33	0.64	LBHIX
MSTSX	0.88	-0.4	-0.07	0.84		0.85	0.58	0.66	MSTSX
ABHYX	0.96	-0.43	0.03	0.83	0.85		0.69	0.68	ABHYX
SCAXF	0.78	-0.69	0.24	0.33	0.58	0.69		0.63	SCAXF
VIASP	0.75	-0.4	0.05	0.64	0.66	0.68	0.63		VIASP
	FGVMX	444859BR2	BRRAY	LBHIX	MSTSX	ABHYX	SCAXF	VIASP

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

ABHYX	+ 0.96	FGVMX
MSTSX	+ 0.88	FGVMX
ABHYX	+ 0.85	MSTSX
MSTSX	+ 0.84	LBHIX
ABHYX	+ 0.83	LBHIX
LBHIX	+ 0.8	FGVMX

High negative correlations

SCAXF	- 0.69	444859BR2
444859BR2	- 0.59	FGVMX
ABHYX	- 0.43	444859BR2
VIASP	- 0.4	444859BR2
MSTSX	- 0.4	444859BR2
BRRAY	- 0.24	444859BR2

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
FGVMX	0.19	0.05	(0.18)	0.46	0.00	(0.26)	0.38	(0.30)	1.02
444859BR2	0.53	(0.10)	0.00	(8.53)	0.00	0.00	0.89	(1.83)	6.04
BRRAY	1.01	0.09	0.00	(0.13)	0.00	0.00	0.00	0.00	49.63
LBHIX	0.12	(0.01)	(0.30)	0.04	0.07	(0.28)	0.24	(0.23)	1.17
MSTSX	0.47	(0.04)	(0.06)	0.05	0.63	(0.48)	1.08	(1.04)	3.97
ABHYX	0.15	0.05	(0.22)	4.72	0.00	(0.25)	0.46	(0.23)	0.94
SCAXF	2.29	1.20	0.00	(3.80)	0.00	0.00	0.00	0.00	54.55
VIASP	0.42	0.03	(0.08)	0.42	0.57	(0.41)	1.03	(0.96)	3.04

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