Ashmore Emerging Correlations

ELBIX Fund

USD 6.41 0.02 0.31%

The current 90-days correlation between Ashmore Emerging Markets and Sp Midcap Index is 0.21 (i.e., Modest 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 0.05 (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 gross domestic product.

Moving together with Ashmore Mutual Fund

0.92	EMFIX	Ashmore Emerging Markets	Pair Corr
0.72	EMKIX	Ashmore Emerging Markets	Pair Corr
0.76	EMKAX	Ashmore Emerging Markets	Pair Corr
0.99	ELBCX	Ashmore Emerging Markets	Pair Corr
0.94	PELCX	Pimco Emerging Local	Pair Corr

Moving against Ashmore Mutual Fund

0.71	ESDIX	Ashmore Emerging Markets	Pair Corr
0.51	ESDAX	Ashmore Emerging Markets	Pair Corr
0.4	ESDCX	Ashmore Emerging Markets	Pair Corr
0.31	ESFCX	Ashmore Emerging Markets	Pair Corr

Related Correlations Analysis

	SPMIX	ZEMIX	BXECX	IGIEX	FEMDX	LOTCX	USMIX
SPMIX		0.3	0.56	0.26	-0.07	-0.61	0.81	SPMIX
ZEMIX	0.3		0.5	0.34	-0.31	-0.49	0.27	ZEMIX
BXECX	0.56	0.5		0.73	0.25	-0.32	0.72	BXECX
IGIEX	0.26	0.34	0.73		0.59	0.03	0.63	IGIEX
FEMDX	-0.07	-0.31	0.25	0.59		0.56	0.32	FEMDX
LOTCX	-0.61	-0.49	-0.32	0.03	0.56		-0.42	LOTCX
USMIX	0.81	0.27	0.72	0.63	0.32	-0.42		USMIX
	SPMIX	ZEMIX	BXECX	IGIEX	FEMDX	LOTCX	USMIX

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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

USMIX	+ 0.81	SPMIX
IGIEX	+ 0.73	BXECX
USMIX	+ 0.72	BXECX
USMIX	+ 0.63	IGIEX
FEMDX	+ 0.59	IGIEX
BXECX	+ 0.56	SPMIX

High negative correlations

LOTCX	- 0.61	SPMIX
LOTCX	- 0.49	ZEMIX
USMIX	- 0.42	LOTCX
LOTCX	- 0.32	BXECX
FEMDX	- 0.31	ZEMIX
FEMDX	- 0.07	SPMIX

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
SPMIX	0.84	(0.11)	0.00	(0.19)	0.00	0.00	1.45	(1.29)	12.47
ZEMIX	0.66	(0.07)	0.00	(0.27)	0.00	0.00	1.35	(1.44)	4.24
BXECX	0.20	(0.04)	0.00	(0.79)	0.00	0.00	0.54	(0.40)	1.46
IGIEX	0.28	(0.03)	0.00	(0.34)	0.00	0.00	0.60	(0.60)	2.17
FEMDX	0.17	0.01	(0.05)	0.26	0.13	(0.22)	0.35	(0.35)	1.29
LOTCX	0.53	0.05	0.04	(3.96)	0.61	(0.59)	0.98	(0.98)	3.31
USMIX	0.95	(0.14)	0.00	(0.21)	0.00	0.00	1.61	(1.48)	15.54

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