Ashmore Emerging Correlations

ESFCX Fund

USD 4.62 0.01 0.22%

The current 90-days correlation between Ashmore Emerging Markets and Biotechnology Ultrasector Profund is -0.09 (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

Good diversification

The correlation between Ashmore Emerging Markets and DJI is -0.14 (i.e., Good 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 main economic indicators.

Moving together with Ashmore Mutual Fund

0.65	EMCIX	Ashmore Emerging Markets	Pair Corr
0.94	ESFAX	Ashmore Emerging Markets	Pair Corr
0.99	ESFIX	Ashmore Emerging Markets	Pair Corr
0.72	ECDCX	Ashmore Emerging Markets	Pair Corr
0.63	ECDAX	Ashmore Emerging Markets	Pair Corr

Moving against Ashmore Mutual Fund

0.55	EFECX	Ashmore Emerging Markets	Pair Corr
0.53	EFEIX	Ashmore Emerging Markets	Pair Corr
0.53	EFEAX	Ashmore Emerging Markets	Pair Corr
0.43	ELBIX	Ashmore Emerging Markets	Pair Corr
0.43	ELBCX	Ashmore Emerging Markets	Pair Corr
0.43	ELBAX	Ashmore Emerging Markets	Pair Corr
0.36	MEDIX	Mfs Emerging Markets	Pair Corr
0.35	FGYMX	Fidelity New Markets	Pair Corr
0.31	FGZMX	Fidelity New Markets	Pair Corr
0.31	FGWMX	Fidelity New Markets	Pair Corr
0.31	FGVMX	Fidelity New Markets	Pair Corr

Related Correlations Analysis

	BIPIX	HTECX	TEFQX	DTEYX	TOWTX	USTCX	ROGSX	ITYYX
BIPIX		0.11	-0.08	-0.25	-0.04	-0.15	-0.01	-0.25	BIPIX
HTECX	0.11		0.93	0.89	0.78	0.91	0.87	0.88	HTECX
TEFQX	-0.08	0.93		0.93	0.8	0.92	0.89	0.91	TEFQX
DTEYX	-0.25	0.89	0.93		0.8	0.98	0.91	0.99	DTEYX
TOWTX	-0.04	0.78	0.8	0.8		0.78	0.89	0.75	TOWTX
USTCX	-0.15	0.91	0.92	0.98	0.78		0.89	0.99	USTCX
ROGSX	-0.01	0.87	0.89	0.91	0.89	0.89		0.86	ROGSX
ITYYX	-0.25	0.88	0.91	0.99	0.75	0.99	0.86		ITYYX
	BIPIX	HTECX	TEFQX	DTEYX	TOWTX	USTCX	ROGSX	ITYYX

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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

ITYYX	+ 0.99	DTEYX
ITYYX	+ 0.99	USTCX
USTCX	+ 0.98	DTEYX
TEFQX	+ 0.93	HTECX
DTEYX	+ 0.93	TEFQX
USTCX	+ 0.92	TEFQX

High negative correlations

ITYYX	- 0.25	BIPIX
DTEYX	- 0.25	BIPIX
USTCX	- 0.15	BIPIX
TEFQX	- 0.08	BIPIX
TOWTX	- 0.04	BIPIX
ROGSX	- 0.01	BIPIX

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
BIPIX	1.47	(0.31)	0.00	(0.06)	0.00	0.00	3.10	(3.98)	11.89
HTECX	0.87	(0.08)	(0.03)	0.06	1.22	(0.82)	1.73	(2.15)	6.25
TEFQX	1.19	(0.03)	0.02	0.10	1.67	(1.20)	2.88	(2.66)	8.22
DTEYX	0.92	0.01	0.01	0.14	1.27	(0.91)	1.88	(2.49)	5.99
TOWTX	0.53	0.02	(0.11)	0.27	0.74	(0.55)	1.08	(1.32)	3.71
USTCX	0.91	0.04	0.03	0.15	1.22	(0.88)	2.39	(2.53)	6.28
ROGSX	0.87	(0.09)	(0.05)	0.04	1.35	(0.85)	1.70	(2.51)	5.59
ITYYX	0.96	0.09	0.08	0.20	1.26	(0.98)	2.50	(2.43)	6.05

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