Ashmore Emerging Correlations

Mutual Funds . USA . 
Fund . Ashmore Emerging Markets
IGCEX Fund  USD 8.43  0.02  0.24%   
The current 90-days correlation between Ashmore Emerging Markets and Flakqx is 0.02 (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

Significant diversification

The correlation between Ashmore Emerging Markets and DJI is 0.02 (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 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

  0.99FGBMX Fidelity New MarketsPairCorr
  0.99FGZMX Fidelity New MarketsPairCorr
  0.66FGWMX Fidelity New MarketsPairCorr
  0.66FGVMX Fidelity New MarketsPairCorr
  0.99FGYMX Fidelity New MarketsPairCorr
  0.98MEDIX Mfs Emerging MarketsPairCorr
  0.98MEDCX Mfs Emerging MarketsPairCorr
  0.98MEDAX Mfs Emerging MarketsPairCorr
  0.98MEDBX Mfs Emerging MarketsPairCorr
  0.98MEDEX Mfs Emerging MarketsPairCorr
  0.96HLDIX Hartford EmergingPairCorr
  0.96HLDRX Hartford EmergingPairCorr
  0.96HLDAX Hartford EmergingPairCorr
  0.96HLDCX Hartford EmergingPairCorr
  0.96HLDTX Hartford EmergingPairCorr
  0.64AA Alcoa Corp Earnings Call This WeekPairCorr
  0.66IBM International BusinessPairCorr
  0.63PFE Pfizer IncPairCorr
  0.62JPM JPMorgan Chase Earnings Call TomorrowPairCorr
  0.67CAT CaterpillarPairCorr
  0.66DIS Walt DisneyPairCorr
  0.68CSCO Cisco SystemsPairCorr

Moving against Ashmore Mutual Fund

  0.75MCD McDonaldsPairCorr
  0.52PG Procter GamblePairCorr
  0.51KO Coca Cola Earnings Call This WeekPairCorr
  0.46VZ Verizon Communications Earnings Call This WeekPairCorr

Related Correlations Analysis

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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   
WABMSX
+ 1.0
FABWX
FLKYPX
+ 0.99
FLAKQX
FABWX
+ 0.99
FLAKQX
WABMSX
+ 0.99
FLAKQX
FABWX
+ 0.99
FLKYPX
WABMSX
+ 0.99
FLKYPX
  
High negative correlations   
FDZBPX
- 0.01
IEMSX

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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