Ashmore Emerging Correlations

EMXIX Fund

13.66 0.03 0.22%

The current 90-days correlation between Ashmore Emerging Markets and Fidelity Natural Resources is 0.3 (i.e., 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

Very poor diversification

The correlation between Ashmore Emerging Markets and DJI is 0.85 (i.e., Very poor 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 various price indices.

Moving together with Ashmore Mutual Fund

0.99	EMECX	Ashmore Emerging Markets	Pair Corr
0.99	EMEAX	Ashmore Emerging Markets	Pair Corr
0.99	EMFIX	Ashmore Emerging Markets	Pair Corr
0.63	EMKIX	Ashmore Emerging Markets	Pair Corr
0.62	EMKCX	Ashmore Emerging Markets	Pair Corr
0.96	EMQIX	Ashmore Emerging Markets	Pair Corr
0.96	EMQAX	Ashmore Emerging Markets	Pair Corr
0.97	ESAGX	Ashmore Emerging Markets	Pair Corr
0.98	ESCIX	Ashmore Emerging Markets	Pair Corr
0.86	EFEIX	Ashmore Emerging Markets	Pair Corr
0.85	EFECX	Ashmore Emerging Markets	Pair Corr
0.85	EFEAX	Ashmore Emerging Markets	Pair Corr
0.79	IGIEX	Ashmore Emerging Markets	Pair Corr
0.85	ELBCX	Ashmore Emerging Markets	Pair Corr
0.86	ELBAX	Ashmore Emerging Markets	Pair Corr
0.91	VEMAX	Vanguard Emerging Markets	Pair Corr
0.91	VEIEX	Vanguard Emerging Markets	Pair Corr
0.91	VEMIX	Vanguard Emerging Markets	Pair Corr
0.91	VEMRX	Vanguard Emerging Markets	Pair Corr
0.94	NEWFX	New World Fund	Pair Corr
0.94	NWFFX	New World Fund	Pair Corr
0.94	NEWCX	New World Fund	Pair Corr
0.94	FWWNX	American Funds New	Pair Corr
0.94	FNFWX	American Funds New	Pair Corr
0.78	VTSAX	Vanguard Total Stock	Pair Corr
0.75	VFIAX	Vanguard 500 Index	Pair Corr
0.78	VTSMX	Vanguard Total Stock	Pair Corr
0.78	VSMPX	Vanguard Total Stock	Pair Corr
0.78	VITSX	Vanguard Total Stock	Pair Corr
0.78	VSTSX	Vanguard Total Stock	Pair Corr
0.95	VTIAX	Vanguard Total Inter	Pair Corr
0.75	VFINX	Vanguard 500 Index	Pair Corr
0.75	VFFSX	Vanguard 500 Index	Pair Corr
0.89	FRQAX	Fidelity Income Repl	Pair Corr

Moving against Ashmore Mutual Fund

0.74	ESFIX	Ashmore Emerging Markets	Pair Corr
0.72	ECDCX	Ashmore Emerging Markets	Pair Corr
0.72	ECDAX	Ashmore Emerging Markets	Pair Corr
0.47	ESFCX	Ashmore Emerging Markets	Pair Corr
0.58	ODVYX	Oppenheimer Developing	Pair Corr

Related Correlations Analysis

	SMAPX	GMOWX	HNRGX	PNRCX	MLOIX	PYILX	GRHAX	FNARX
SMAPX		0.78	0.88	0.77	0.8	0.77	0.75	0.83	SMAPX
GMOWX	0.78		0.93	0.98	0.89	0.91	0.97	0.97	GMOWX
HNRGX	0.88	0.93		0.89	0.94	0.84	0.87	0.95	HNRGX
PNRCX	0.77	0.98	0.89		0.8	0.94	0.99	0.95	PNRCX
MLOIX	0.8	0.89	0.94	0.8		0.72	0.78	0.91	MLOIX
PYILX	0.77	0.91	0.84	0.94	0.72		0.92	0.89	PYILX
GRHAX	0.75	0.97	0.87	0.99	0.78	0.92		0.94	GRHAX
FNARX	0.83	0.97	0.95	0.95	0.91	0.89	0.94		FNARX
	SMAPX	GMOWX	HNRGX	PNRCX	MLOIX	PYILX	GRHAX	FNARX

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
SMAPX	0.64	0.10	0.05	0.63	0.69	(0.68)	1.33	(1.29)	3.86
GMOWX	0.93	0.25	0.22	0.36	0.81	(1.09)	2.11	(1.80)	5.56
HNRGX	0.91	0.20	0.15	0.55	0.87	(1.02)	2.19	(1.48)	5.75
PNRCX	1.05	0.27	0.17	0.41	1.14	(1.14)	2.22	(1.82)	5.40
MLOIX	0.72	0.13	0.11	0.28	0.71	(0.77)	1.53	(1.53)	3.79
PYILX	0.19	0.05	(0.05)	0.44	0.00	(0.24)	0.42	(0.31)	0.82
GRHAX	1.28	0.28	0.16	0.39	1.45	(1.48)	2.60	(2.19)	6.02
FNARX	0.91	0.22	0.17	0.54	0.74	(1.02)	1.79	(1.56)	4.40

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