Ashmore Emerging Correlations

ESSAX Fund

USD 13.50 0.06 0.45%

The current 90-days correlation between Ashmore Emerging Markets and Davis Financial Fund is 0.37 (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

Average diversification

The correlation between Ashmore Emerging Markets and DJI is 0.13 (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

0.83	EMECX	Ashmore Emerging Markets	Pair Corr
0.83	EMEAX	Ashmore Emerging Markets	Pair Corr
0.83	EMQIX	Ashmore Emerging Markets	Pair Corr
0.82	EMQCX	Ashmore Emerging Markets	Pair Corr
0.82	EMQAX	Ashmore Emerging Markets	Pair Corr
0.82	ESAGX	Ashmore Emerging Markets	Pair Corr
1.0	ESCIX	Ashmore Emerging Markets	Pair Corr
0.82	ESCGX	Ashmore Emerging Markets	Pair Corr
0.82	ESIGX	Ashmore Emerging Markets	Pair Corr
1.0	ESSCX	Ashmore Emerging Markets	Pair Corr
0.76	ELBAX	Ashmore Emerging Markets	Pair Corr
0.84	VEMAX	Vanguard Emerging Markets	Pair Corr
0.84	VEIEX	Vanguard Emerging Markets	Pair Corr
0.84	VEMIX	Vanguard Emerging Markets	Pair Corr
0.84	VEMRX	Vanguard Emerging Markets	Pair Corr
0.7	FWWNX	American Funds New	Pair Corr
0.7	FNFWX	American Funds New	Pair Corr
0.7	NEWFX	New World Fund	Pair Corr

Moving against Ashmore Mutual Fund

0.43	ESDAX	Ashmore Emerging Markets	Pair Corr
0.39	ESDCX	Ashmore Emerging Markets	Pair Corr
0.73	XNKGX	Nuveen Georgia Quality	Pair Corr
0.61	XPPRX	Voya Prime Rate	Pair Corr

Related Correlations Analysis

	DVFYX	ICFAX	HISFX	VFAIX	PSSRX	MSVIX
DVFYX		0.31	0.89	0.89	0.87	0.71	DVFYX
ICFAX	0.31		0.59	-0.02	0.52	0.65	ICFAX
HISFX	0.89	0.59		0.7	0.95	0.86	HISFX
VFAIX	0.89	-0.02	0.7		0.66	0.39	VFAIX
PSSRX	0.87	0.52	0.95	0.66		0.9	PSSRX
MSVIX	0.71	0.65	0.86	0.39	0.9		MSVIX
	DVFYX	ICFAX	HISFX	VFAIX	PSSRX	MSVIX

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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

PSSRX	+ 0.95	HISFX
MSVIX	+ 0.9	PSSRX
HISFX	+ 0.89	DVFYX
VFAIX	+ 0.89	DVFYX
PSSRX	+ 0.87	DVFYX
MSVIX	+ 0.86	HISFX

High negative correlations

VFAIX

- 0.02

ICFAX

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
DVFYX	0.79	0.06	0.04	0.14	0.96	(0.84)	1.35	(1.39)	9.40
ICFAX	0.89	(0.17)	0.00	(0.37)	0.00	0.00	1.43	(2.10)	18.69
HISFX	1.43	(0.01)	(0.01)	0.00	1.84	(1.63)	3.01	(3.49)	18.32
VFAIX	0.80	0.11	0.10	0.31	0.90	(0.87)	1.46	(1.49)	10.22
PSSRX	0.88	(0.01)	(0.02)	(0.01)	1.36	(0.98)	1.51	(1.79)	11.81
MSVIX	0.85	(0.11)	0.00	(0.24)	0.00	0.00	1.40	(1.42)	15.14

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