Ashmore Emerging Correlations

EMKAX Fund

USD 4.86 0.01 0.21%

The current 90-days correlation between Ashmore Emerging Markets and Fidelity Advisor Financial is -0.07 (i.e., Good 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

Average diversification

The correlation between Ashmore Emerging Markets and DJI is 0.14 (i.e., Average 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

0.65	FGBMX	Fidelity New Markets	Pair Corr
0.71	FGZMX	Fidelity New Markets	Pair Corr
0.67	FGWMX	Fidelity New Markets	Pair Corr
0.67	FGVMX	Fidelity New Markets	Pair Corr
0.71	FGYMX	Fidelity New Markets	Pair Corr
0.75	MEDIX	Mfs Emerging Markets	Pair Corr
0.81	MEDCX	Mfs Emerging Markets	Pair Corr
0.79	MEDAX	Mfs Emerging Markets	Pair Corr
0.8	MEDBX	Mfs Emerging Markets	Pair Corr
0.79	MEDEX	Mfs Emerging Markets	Pair Corr
0.84	GPBFX	Gmo E Plus	Pair Corr
0.74	WARCX	Wells Fargo Advantage	Pair Corr
0.61	GSDIX	Goldman Sachs Emerging	Pair Corr
0.73	CAT	Caterpillar Earnings Call This Week	Pair Corr

Moving against Ashmore Mutual Fund

0.64	PQTAX	Pimco Trends Managed	Pair Corr
0.64	PQTNX	Pimco Trends Managed	Pair Corr
0.64	PQTIX	Aa Pimco Tr	Pair Corr
0.49	GPMFX	Guidepath Managed Futures	Pair Corr
0.31	BA	Boeing	Pair Corr

Related Correlations Analysis

	FIKBX	BXSL	GCFSX	DVFYX	VMRXX	PSSRX	SWGXX
FIKBX		0.0	0.88	0.95	-0.07	0.9	-0.23	FIKBX
BXSL	0.0		0.23	0.1	0.75	-0.4	0.74	BXSL
GCFSX	0.88	0.23		0.86	0.16	0.69	0.04	GCFSX
DVFYX	0.95	0.1	0.86		-0.1	0.82	-0.09	DVFYX
VMRXX	-0.07	0.75	0.16	-0.1		-0.4	0.53	VMRXX
PSSRX	0.9	-0.4	0.69	0.82	-0.4		-0.54	PSSRX
SWGXX	-0.23	0.74	0.04	-0.09	0.53	-0.54		SWGXX
	FIKBX	BXSL	GCFSX	DVFYX	VMRXX	PSSRX	SWGXX

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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

DVFYX	+ 0.95	FIKBX
PSSRX	+ 0.9	FIKBX
GCFSX	+ 0.88	FIKBX
DVFYX	+ 0.86	GCFSX
PSSRX	+ 0.82	DVFYX
VMRXX	+ 0.75	BXSL

High negative correlations

SWGXX	- 0.54	PSSRX
PSSRX	- 0.4	VMRXX
PSSRX	- 0.4	BXSL
SWGXX	- 0.23	FIKBX
VMRXX	- 0.1	DVFYX
SWGXX	- 0.09	DVFYX

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
FIKBX	0.83	0.08	0.02	0.29	0.97	(0.93)	1.66	(1.95)	11.21
BXSL	0.72	0.07	0.01	0.34	0.75	(0.79)	1.43	(1.14)	4.08
GCFSX	0.60	0.10	0.01	10.43	0.69	(0.69)	1.50	(1.23)	6.27
DVFYX	0.79	0.06	0.01	0.21	0.91	(0.87)	1.35	(1.39)	9.40
VMRXX	0.03	0.01	0.00	(0.88)	0.00	0.00	0.00	0.00	1.01
PSSRX	0.90	(0.01)	(0.04)	0.07	1.35	(0.96)	1.51	(1.79)	11.81
SWGXX	0.03	0.01	0.00	(1.40)	0.00	0.00	0.00	0.00	1.01

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