Ashmore Emerging Correlations

ELBAX Fund

USD 6.06 0.03 0.49%

The current 90-days correlation between Ashmore Emerging Markets and Vanguard Health Care is 0.17 (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 0.25 (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 nation.

Moving together with Ashmore Mutual Fund

0.85	EMECX	Ashmore Emerging Markets	Pair Corr
0.85	EMEAX	Ashmore Emerging Markets	Pair Corr
0.84	EMFIX	Ashmore Emerging Markets	Pair Corr
0.64	EMKCX	Ashmore Emerging Markets	Pair Corr
0.78	EMQIX	Ashmore Emerging Markets	Pair Corr
0.8	EMQCX	Ashmore Emerging Markets	Pair Corr
0.79	EMQAX	Ashmore Emerging Markets	Pair Corr
0.81	ESAGX	Ashmore Emerging Markets	Pair Corr
0.82	ESCGX	Ashmore Emerging Markets	Pair Corr
0.81	ESIGX	Ashmore Emerging Markets	Pair Corr
0.99	ELBIX	Ashmore Emerging Markets	Pair Corr
1.0	ELBCX	Ashmore Emerging Markets	Pair Corr

Moving against Ashmore Mutual Fund

0.77	ESDIX	Ashmore Emerging Markets	Pair Corr
0.75	ESDAX	Ashmore Emerging Markets	Pair Corr
0.62	ESDCX	Ashmore Emerging Markets	Pair Corr
0.42	ESFCX	Ashmore Emerging Markets	Pair Corr
0.41	ESFAX	Ashmore Emerging Markets	Pair Corr
0.38	EFEIX	Ashmore Emerging Markets	Pair Corr
0.37	ESFIX	Ashmore Emerging Markets	Pair Corr
0.32	EFECX	Ashmore Emerging Markets	Pair Corr
0.36	EFEAX	Ashmore Emerging Markets	Pair Corr

Related Correlations Analysis

	VHCIX	BGHDX	AHSCX	ERHSX	SCHLX	LOGSX	HGHYX
VHCIX		0.39	0.79	0.91	0.99	0.87	0.86	VHCIX
BGHDX	0.39		0.32	0.33	0.38	0.27	0.43	BGHDX
AHSCX	0.79	0.32		0.79	0.83	0.84	0.86	AHSCX
ERHSX	0.91	0.33	0.79		0.93	0.89	0.94	ERHSX
SCHLX	0.99	0.38	0.83	0.93		0.88	0.9	SCHLX
LOGSX	0.87	0.27	0.84	0.89	0.88		0.88	LOGSX
HGHYX	0.86	0.43	0.86	0.94	0.9	0.88		HGHYX
	VHCIX	BGHDX	AHSCX	ERHSX	SCHLX	LOGSX	HGHYX

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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 Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
VHCIX	0.67	(0.05)	(0.03)	1.24	(1.42)	2.98
BGHDX	0.69	(0.05)	1.53	1.38	(1.69)	8.70
AHSCX	0.61	(0.03)	(0.80)	1.01	(1.39)	4.11
ERHSX	0.68	(0.12)	(0.28)	1.20	(1.38)	5.74
SCHLX	0.64	(0.05)	(0.07)	1.27	(1.60)	3.10
LOGSX	0.65	(0.07)	(0.06)	1.38	(1.52)	4.72
HGHYX	0.76	(0.14)	(3.27)	1.21	(1.70)	6.19

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