Ashmore Emerging Correlations

EFEIX Fund

USD 12.65 0.06 0.47%

The current 90-days correlation between Ashmore Emerging Markets and Qs Global Equity is 0.34 (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

Modest diversification

The correlation between Ashmore Emerging Markets and DJI is 0.24 (i.e., Modest 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

0.64	EMKIX	Ashmore Emerging Markets	Pair Corr
0.61	EMKCX	Ashmore Emerging Markets	Pair Corr
0.64	EMKAX	Ashmore Emerging Markets	Pair Corr
1.0	EFECX	Ashmore Emerging Markets	Pair Corr
1.0	EFEAX	Ashmore Emerging Markets	Pair Corr
0.7	IGAEX	Ashmore Emerging Markets	Pair Corr
0.73	IGCEX	Ashmore Emerging Markets	Pair Corr
0.72	IGIEX	Ashmore Emerging Markets	Pair Corr
0.62	ELBIX	Ashmore Emerging Markets	Pair Corr
0.61	ELBCX	Ashmore Emerging Markets	Pair Corr
0.61	ELBAX	Ashmore Emerging Markets	Pair Corr

Moving against Ashmore Mutual Fund

0.48	ESFIX	Ashmore Emerging Markets	Pair Corr
0.47	ESFAX	Ashmore Emerging Markets	Pair Corr
0.43	ESFCX	Ashmore Emerging Markets	Pair Corr
0.54	LSHUX	Horizon Spin Off	Pair Corr
0.54	LSHCX	Horizon Spin Off	Pair Corr
0.52	KNPYX	Kinetics Paradigm	Pair Corr
0.52	WWNPX	Kinetics Paradigm	Pair Corr
0.52	KNPCX	Kinetics Paradigm	Pair Corr
0.48	KMKCX	Kinetics Market Oppo	Pair Corr
0.48	KMKAX	Kinetics Market Oppo	Pair Corr
0.4	SMPSX	Semiconductor Ultrasector	Pair Corr

Related Correlations Analysis

	SMYIX	WRLDX	TEDIX	CNGLX	BXFIX	DHGCX	SGMAX
SMYIX		0.77	0.15	0.77	0.9	-0.1	0.92	SMYIX
WRLDX	0.77		0.56	0.73	0.6	0.09	0.91	WRLDX
TEDIX	0.15	0.56		0.61	-0.06	0.52	0.43	TEDIX
CNGLX	0.77	0.73	0.61		0.56	0.4	0.84	CNGLX
BXFIX	0.9	0.6	-0.06	0.56		-0.17	0.77	BXFIX
DHGCX	-0.1	0.09	0.52	0.4	-0.17		0.07	DHGCX
SGMAX	0.92	0.91	0.43	0.84	0.77	0.07		SGMAX
	SMYIX	WRLDX	TEDIX	CNGLX	BXFIX	DHGCX	SGMAX

Click cells to compare fundamentals

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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

SGMAX	+ 0.92	SMYIX
SGMAX	+ 0.91	WRLDX
BXFIX	+ 0.9	SMYIX
SGMAX	+ 0.84	CNGLX
WRLDX	+ 0.77	SMYIX
CNGLX	+ 0.77	SMYIX

High negative correlations

DHGCX	- 0.17	BXFIX
DHGCX	- 0.1	SMYIX
BXFIX	- 0.06	TEDIX

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
SMYIX	0.50	0.05	0.03	0.17	0.44	(0.55)	1.47	(1.02)	3.19
WRLDX	0.46	(0.03)	(0.14)	0.03	0.45	(0.55)	0.92	(0.72)	2.75
TEDIX	0.47	(0.06)	(0.17)	(0.02)	0.58	(0.48)	0.88	(0.97)	2.77
CNGLX	0.49	(0.03)	(0.08)	0.05	0.59	(0.51)	1.04	(1.00)	3.68
BXFIX	0.08	0.02	(0.52)	1.54	0.00	(0.22)	0.12	(0.12)	0.81
DHGCX	0.15	(0.02)	0.00	(0.83)	0.00	0.00	0.31	(0.25)	0.96
SGMAX	0.32	(0.01)	(0.16)	0.07	0.27	(0.40)	0.64	(0.62)	1.58

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