Ashmore Emerging Correlations

ESFAX Fund

USD 4.85 0.01 0.21%

The current 90-days correlation between Ashmore Emerging Markets and Ashmore Emerging Markets is 0.36 (i.e., Weak 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

Significant diversification

The correlation between Ashmore Emerging Markets and DJI is 0.04 (i.e., Significant 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

0.97	ESFCX	Ashmore Emerging Markets	Pair Corr
0.84	ESFIX	Ashmore Emerging Markets	Pair Corr

Moving against Ashmore Mutual Fund

0.5	EFEIX	Ashmore Emerging Markets	Pair Corr
0.49	EMQIX	Ashmore Emerging Markets	Pair Corr
0.49	EFECX	Ashmore Emerging Markets	Pair Corr
0.48	EMQCX	Ashmore Emerging Markets	Pair Corr
0.47	ESAGX	Ashmore Emerging Markets	Pair Corr
0.47	EFEAX	Ashmore Emerging Markets	Pair Corr
0.46	EMECX	Ashmore Emerging Markets	Pair Corr
0.46	ESCIX	Ashmore Emerging Markets	Pair Corr
0.46	ESSCX	Ashmore Emerging Markets	Pair Corr
0.46	ESSAX	Ashmore Emerging Markets	Pair Corr
0.45	EMQAX	Ashmore Emerging Markets	Pair Corr
0.45	EMXIX	Ashmore Emerging Markets	Pair Corr
0.44	EMEAX	Ashmore Emerging Markets	Pair Corr
0.44	EMXCX	Ashmore Emerging Markets	Pair Corr
0.44	EMXAX	Ashmore Emerging Markets	Pair Corr
0.44	ESIGX	Ashmore Emerging Markets	Pair Corr
0.33	EMKIX	Ashmore Emerging Markets	Pair Corr
0.32	EMCIX	Ashmore Emerging Markets	Pair Corr
0.32	ECDCX	Ashmore Emerging Markets	Pair Corr
0.44	ELBIX	Ashmore Emerging Markets	Pair Corr
0.44	HLDIX	Hartford Emerging	Pair Corr
0.43	ELBCX	Ashmore Emerging Markets	Pair Corr
0.43	HLDRX	Hartford Emerging	Pair Corr
0.43	HLDAX	Hartford Emerging	Pair Corr
0.43	HLDTX	Hartford Emerging	Pair Corr
0.42	MEDIX	Mfs Emerging Markets	Pair Corr
0.42	MEDCX	Mfs Emerging Markets	Pair Corr
0.42	MEDAX	Mfs Emerging Markets	Pair Corr
0.42	MEDBX	Mfs Emerging Markets	Pair Corr
0.42	MEDEX	Mfs Emerging Markets	Pair Corr
0.42	HLDCX	Hartford Emerging	Pair Corr
0.41	GOPCX	Aberdeen China Oppty	Pair Corr
0.39	FGZMX	Fidelity New Markets	Pair Corr
0.39	FGWMX	Fidelity New Markets	Pair Corr

Related Correlations Analysis

	EMCIX	EMECX	EMEAX	EMFIX	EMKIX	EMKCX	EMKAX	EMQIX	EMQCX	EMQAX
EMCIX		0.92	0.92	0.92	0.98	0.97	0.97	0.93	0.93	0.93	EMCIX
EMECX	0.92		0.99	1.0	0.93	0.92	0.92	0.99	1.0	0.99	EMECX
EMEAX	0.92	0.99		0.99	0.94	0.93	0.93	0.98	0.98	1.0	EMEAX
EMFIX	0.92	1.0	0.99		0.93	0.92	0.92	0.99	1.0	0.99	EMFIX
EMKIX	0.98	0.93	0.94	0.93		0.99	0.99	0.94	0.94	0.95	EMKIX
EMKCX	0.97	0.92	0.93	0.92	0.99		1.0	0.93	0.93	0.94	EMKCX
EMKAX	0.97	0.92	0.93	0.92	0.99	1.0		0.93	0.93	0.94	EMKAX
EMQIX	0.93	0.99	0.98	0.99	0.94	0.93	0.93		1.0	0.99	EMQIX
EMQCX	0.93	1.0	0.98	1.0	0.94	0.93	0.93	1.0		0.99	EMQCX
EMQAX	0.93	0.99	1.0	0.99	0.95	0.94	0.94	0.99	0.99		EMQAX
	EMCIX	EMECX	EMEAX	EMFIX	EMKIX	EMKCX	EMKAX	EMQIX	EMQCX	EMQAX

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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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum 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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