Ashmore Emerging Correlations

Mutual Funds USA . 
Fund . Ashmore Emerging Markets
ELBCX Fund  USD 5.99  0.02  0.33%   
The current 90-days correlation between Ashmore Emerging Markets and Qs Growth Fund is 0.31 (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 0.06 (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 main economic indicators.

Moving together with Ashmore Mutual Fund

  0.89EMKIX Ashmore Emerging MarketsPairCorr
  0.9EMKCX Ashmore Emerging MarketsPairCorr
  0.83EMKAX Ashmore Emerging MarketsPairCorr
  0.89ESCIX Ashmore Emerging MarketsPairCorr
  0.89ESSCX Ashmore Emerging MarketsPairCorr
  0.89ESSAX Ashmore Emerging MarketsPairCorr
  0.61EFEIX Ashmore Emerging MarketsPairCorr
  0.67EFECX Ashmore Emerging MarketsPairCorr
  0.63EFEAX Ashmore Emerging MarketsPairCorr
  0.68IGCEX Ashmore Emerging MarketsPairCorr
  0.65IGIEX Ashmore Emerging MarketsPairCorr
  1.0ELBIX Ashmore Emerging MarketsPairCorr
  1.0ELBAX Ashmore Emerging MarketsPairCorr
  0.97PLMPX Pimco Emerging MarketsPairCorr
  0.97PLMIX Pimco Emerging MarketsPairCorr
  0.99PELPX Pimco Emerging LocalPairCorr
  0.99PELBX Pimco Emerging LocalPairCorr

Moving against Ashmore Mutual Fund

  0.34ESFAX Ashmore Emerging MarketsPairCorr
  0.31ESFIX Ashmore Emerging MarketsPairCorr
  0.71GCAVX Gmo Small CapPairCorr
  0.41FTYPX Fidelity Freedom IndexPairCorr
  0.32FFBTX Fidelity Freedom BlendPairCorr

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   
SCYVX
+ 0.97
TQAAX
LAVVX
+ 0.96
TQAAX
SCYVX
+ 0.95
LAVVX
LAVVX
+ 0.94
LANIX
LAVVX
+ 0.94
LIOTX
TQAAX
+ 0.93
LANIX
  
High negative correlations   
SCYVX
- 0.09
RYMBX
RYMBX
- 0.03
TQAAX
RYMBX
- 0.02
CNGLX

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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