Ashmore Emerging Correlations

Mutual Funds . USA . 
Fund . Ashmore Emerging Markets
ESSCX Fund  USD 16.02  0.27  1.71%   
The current 90-days correlation between Ashmore Emerging Markets and Omni Small Cap Value is 0.72 (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

Poor diversification

The correlation between Ashmore Emerging Markets and DJI is 0.75 (i.e., Poor 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

  0.8EMCIX Ashmore Emerging MarketsPairCorr
  0.99EMECX Ashmore Emerging MarketsPairCorr
  0.99EMEAX Ashmore Emerging MarketsPairCorr
  1.0EMFIX Ashmore Emerging MarketsPairCorr
  0.96EMKIX Ashmore Emerging MarketsPairCorr
  0.95EMKCX Ashmore Emerging MarketsPairCorr
  0.95EMKAX Ashmore Emerging MarketsPairCorr
  0.99EMQIX Ashmore Emerging MarketsPairCorr
  0.99EMQCX Ashmore Emerging MarketsPairCorr
  0.99EMQAX Ashmore Emerging MarketsPairCorr
  0.99EMXIX Ashmore Emerging MarketsPairCorr
  0.99EMXCX Ashmore Emerging MarketsPairCorr
  0.99EMXAX Ashmore Emerging MarketsPairCorr
  0.99ESAGX Ashmore Emerging MarketsPairCorr
  1.0ESCIX Ashmore Emerging MarketsPairCorr
  0.99ESCGX Ashmore Emerging MarketsPairCorr
  0.99ESIGX Ashmore Emerging MarketsPairCorr
  1.0ESSAX Ashmore Emerging MarketsPairCorr
  0.75ECDCX Ashmore Emerging MarketsPairCorr
  0.98EFEIX Ashmore Emerging MarketsPairCorr
  0.98EFECX Ashmore Emerging MarketsPairCorr
  0.96EFEAX Ashmore Emerging MarketsPairCorr
  0.86IGAEX Ashmore Emerging MarketsPairCorr
  0.86IGCEX Ashmore Emerging MarketsPairCorr
  0.91IGIEX Ashmore Emerging MarketsPairCorr
  0.95ELBIX Ashmore Emerging MarketsPairCorr
  0.95ELBCX Ashmore Emerging MarketsPairCorr
  0.95ELBAX Ashmore Emerging MarketsPairCorr
  0.99VEMAX Vanguard Emerging MarketsPairCorr
  0.99VEIEX Vanguard Emerging MarketsPairCorr
  0.99VEMIX Vanguard Emerging MarketsPairCorr
  0.99VEMRX Vanguard Emerging MarketsPairCorr
  0.99FWWNX American Funds NewPairCorr
  0.99FNFWX American Funds NewPairCorr
  0.99NEWFX New World FundPairCorr

Moving against Ashmore Mutual Fund

  0.4ESFCX Ashmore Emerging MarketsPairCorr
  0.39ESFAX Ashmore Emerging MarketsPairCorr
  0.95USPSX Profunds UltrashortPairCorr
  0.95USPIX Profunds UltrashortPairCorr
  0.95UIPIX Ultrashort Mid CapPairCorr
  0.87TCTGX Transamerica CleartrackPairCorr
  0.87TCTJX Transamerica CleartrackPairCorr
  0.87TCSUX Cleartrack 2020 ClassPairCorr
  0.86TDKTX Cleartrack 2015 ClassPairCorr

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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