Ashmore Emerging Correlations

Mutual Funds USA . 
Fund . Ashmore Emerging Markets
IGAEX Fund  USD 8.37  0.03  0.36%   
The current 90-days correlation between Ashmore Emerging Markets and Ashmore Emerging Markets is 0.09 (i.e., Significant 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

Good diversification

The correlation between Ashmore Emerging Markets and DJI is -0.13 (i.e., Good 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 Risk vs Return Analysis 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 income.

Moving together with Ashmore Mutual Fund

  0.95EMCIX Ashmore Emerging MarketsPairCorr
  0.92EMECX Ashmore Emerging MarketsPairCorr
  0.93EMEAX Ashmore Emerging MarketsPairCorr
  0.92EMFIX Ashmore Emerging MarketsPairCorr
  0.96EMKIX Ashmore Emerging MarketsPairCorr
  0.96EMKCX Ashmore Emerging MarketsPairCorr
  0.96EMKAX Ashmore Emerging MarketsPairCorr
  0.94EMQIX Ashmore Emerging MarketsPairCorr
  0.94EMQCX Ashmore Emerging MarketsPairCorr
  0.94EMQAX Ashmore Emerging MarketsPairCorr
  0.96EMXIX Ashmore Emerging MarketsPairCorr
  0.96EMXCX Ashmore Emerging MarketsPairCorr
  0.96EMXAX Ashmore Emerging MarketsPairCorr
  0.92ESAGX Ashmore Emerging MarketsPairCorr
  0.94ESCIX Ashmore Emerging MarketsPairCorr
  0.94ESCGX Ashmore Emerging MarketsPairCorr
  0.93ESIGX Ashmore Emerging MarketsPairCorr
  0.94ESSCX Ashmore Emerging MarketsPairCorr
  0.97ECDCX Ashmore Emerging MarketsPairCorr
  0.67ECDAX Ashmore Emerging MarketsPairCorr
  0.91EFEIX Ashmore Emerging MarketsPairCorr
  0.91EFECX Ashmore Emerging MarketsPairCorr
  0.88EFEAX Ashmore Emerging MarketsPairCorr
  1.0IGCEX Ashmore Emerging MarketsPairCorr
  0.95IGIEX Ashmore Emerging MarketsPairCorr
  0.95ELBIX Ashmore Emerging MarketsPairCorr
  0.95ELBCX Ashmore Emerging MarketsPairCorr
  0.95ELBAX Ashmore Emerging MarketsPairCorr
  0.96FGBMX Fidelity New MarketsPairCorr
  0.97FGZMX Fidelity New MarketsPairCorr
  0.98FGWMX Fidelity New MarketsPairCorr
  0.98FGVMX Fidelity New MarketsPairCorr
  0.96FGYMX Fidelity New MarketsPairCorr
  0.95MEDIX Mfs Emerging MarketsPairCorr
  0.97MEDCX Mfs Emerging MarketsPairCorr

Moving against Ashmore Mutual Fund

  0.45ESFCX Ashmore Emerging MarketsPairCorr
  0.31ESFAX Ashmore Emerging MarketsPairCorr
  0.43XDSMX Dreyfus StrategicPairCorr

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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum 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  0.54  0.27  0.21 (7.69) 0.00 
(0.69)
 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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