Ashmore Emerging Correlations

Mutual Funds . USA . 
Fund . Ashmore Emerging Markets
IGAEX Fund  USD 8.44  0.03  0.35%   
The current 90-days correlation between Ashmore Emerging Markets and Ashmore Emerging Markets is 0.18 (i.e., Average 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 0.2 (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 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

  0.74EMKIX Ashmore Emerging MarketsPairCorr
  0.72EMKCX Ashmore Emerging MarketsPairCorr
  0.83EMKAX Ashmore Emerging MarketsPairCorr
  0.7EFEIX Ashmore Emerging MarketsPairCorr
  0.7EFECX Ashmore Emerging MarketsPairCorr
  0.7EFEAX Ashmore Emerging MarketsPairCorr
  0.96IGCEX Ashmore Emerging MarketsPairCorr
  0.97IGIEX Ashmore Emerging MarketsPairCorr
  0.97FGBMX Fidelity New MarketsPairCorr
  0.97FGZMX Fidelity New MarketsPairCorr
  0.97FGWMX Fidelity New MarketsPairCorr
  0.97FGVMX Fidelity New MarketsPairCorr

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  0.16  0.01 (0.37) 0.18  0.00 
(0.32)
 0.52 
(0.17)
 0.88 
EMECX  0.75 (0.01)(0.06) 0.07  0.85 
(0.93)
 1.90 
(1.38)
 5.15 
EMEAX  0.75  0.00 (0.07) 0.08  0.83 
(0.92)
 1.93 
(1.35)
 5.08 
EMFIX  0.75  0.00 (0.06) 0.08  0.83 
(0.92)
 1.91 
(1.32)
 5.20 
EMKIX  0.25 (0.01)(0.29)(0.37) 0.27 
(0.36)
 0.60 
(0.40)
 1.62 
EMKCX  0.25 (0.02) 0.00 (0.71) 0.00 
 0.00 
 0.41 
(0.60)
 1.86 
EMKAX  0.28 (0.01)(0.24)(0.49) 0.32 
(0.36)
 0.62 
(0.62)
 1.86 
EMQIX  0.79  0.05 (0.01) 0.24  0.85 
(1.02)
 2.21 
(1.76)
 5.39 
EMQCX  0.78  0.04 (0.02) 0.22  0.84 
(1.00)
 2.17 
(1.71)
 5.43 
EMQAX  0.77  0.05 (0.01) 0.23  0.84 
(0.99)
 2.11 
(1.66)
 5.39 

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