Ashmore Emerging Correlations

Mutual Funds . USA . 
Fund . Ashmore Emerging Markets
EMKIX Fund  USD 4.95  0.01  0.20%   
The current 90-days correlation between Ashmore Emerging Markets and Rational Strategic Allocation is 0.44 (i.e., Very 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

Modest diversification

The correlation between Ashmore Emerging Markets and DJI is 0.24 (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 gross domestic product.

Moving together with Ashmore Mutual Fund

  0.7EMCIX Ashmore Emerging MarketsPairCorr
  0.99EMKCX Ashmore Emerging MarketsPairCorr
  0.65EMQIX Ashmore Emerging MarketsPairCorr
  0.65EMQAX Ashmore Emerging MarketsPairCorr
  0.75ECDCX Ashmore Emerging MarketsPairCorr
  0.89IGAEX Ashmore Emerging MarketsPairCorr
  0.89IGIEX Ashmore Emerging MarketsPairCorr
  0.75FGBMX Fidelity New MarketsPairCorr
  0.76FGZMX Fidelity New MarketsPairCorr
  0.76FGWMX Fidelity New MarketsPairCorr
  0.77FGVMX Fidelity New MarketsPairCorr
  0.8FGYMX Fidelity New MarketsPairCorr
  0.81MEDIX Mfs Emerging MarketsPairCorr
  0.84MEDCX Mfs Emerging MarketsPairCorr
  0.82MEDAX Mfs Emerging MarketsPairCorr
  0.83MEDBX Mfs Emerging MarketsPairCorr
  0.82MEDEX Mfs Emerging MarketsPairCorr
  0.8FIRFX Fidelity Income ReplPairCorr
  0.83CLIRX Columbia Capital AllPairCorr

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   
RGELX
+ 0.94
RHSAX
TFAGX
+ 0.86
RGELX
TFAGX
+ 0.8
RHSAX
PRNHX
+ 0.8
TADGX
TFAGX
+ 0.77
MSEQX
PRNHX
+ 0.76
RGELX
  
High negative correlations   
TADGX
- 0.22
MSEQX

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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