Ashmore Emerging Correlations

IGIEX Fund

USD 8.33 0.01 0.12%

The current 90-days correlation between Ashmore Emerging Markets and Transam Short Term Bond is 0.18 (i.e., Average 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 0.16 (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 Risk vs Return Analysis 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 income.

Moving together with Ashmore Mutual Fund

0.82	EMCIX	Ashmore Emerging Markets	Pair Corr
0.86	FGBMX	Fidelity New Markets	Pair Corr
0.86	FGZMX	Fidelity New Markets	Pair Corr
0.88	FGWMX	Fidelity New Markets	Pair Corr
0.88	FGVMX	Fidelity New Markets	Pair Corr
0.91	FGYMX	Fidelity New Markets	Pair Corr
0.94	MEDIX	Mfs Emerging Markets	Pair Corr
0.96	MEDCX	Mfs Emerging Markets	Pair Corr
0.94	MEDAX	Mfs Emerging Markets	Pair Corr
0.95	MEDBX	Mfs Emerging Markets	Pair Corr
0.94	MEDEX	Mfs Emerging Markets	Pair Corr
0.83	MGGYX	Mirova Global Green	Pair Corr
0.83	MGGAX	Mirova Global Green	Pair Corr
0.71	BXECX	Barings Emerging Markets	Pair Corr
0.73	BXEIX	Barings Emerging Markets	Pair Corr
0.71	BXEAX	Barings Emerging Markets	Pair Corr
0.63	DFEOX	Us E Equity	Pair Corr
0.81	JQLBX	Multimanager Lifestyle	Pair Corr
0.69	GSWPX	Goldman Sachs Smallmid	Pair Corr
0.69	HCYIX	Direxion Hilton Tactical	Pair Corr

Moving against Ashmore Mutual Fund

0.67	DXKSX	Direxion Monthly 7	Pair Corr
0.34	JSORX	Jpmorgan Strategic Income	Pair Corr

Related Correlations Analysis

	TAAQX	DULTX	BDMKX	VASDX	FGUSX	SWSFX
TAAQX		0.89	0.9	0.93	0.91	0.83	TAAQX
DULTX	0.89		0.9	0.93	0.96	0.83	DULTX
BDMKX	0.9	0.9		0.9	0.89	0.87	BDMKX
VASDX	0.93	0.93	0.9		0.96	0.8	VASDX
FGUSX	0.91	0.96	0.89	0.96		0.83	FGUSX
SWSFX	0.83	0.83	0.87	0.8	0.83		SWSFX
	TAAQX	DULTX	BDMKX	VASDX	FGUSX	SWSFX

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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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TAAQX	0.08	0.00	(0.67)	0.33	(0.17)	0.21	(0.10)	0.62
DULTX	0.04	0.01	0.00	(0.52)	0.00	0.10	0.00	0.71
BDMKX	0.06	0.02	(0.61)	1.17	(0.12)	0.11	(0.11)	0.34
VASDX	0.07	0.01	(0.72)	(0.79)	(0.17)	0.20	(0.10)	0.70
FGUSX	0.06	0.01	(0.74)	(0.43)	(0.23)	0.10	(0.10)	0.62
SWSFX	0.03	0.00	0.00	0.12	0.00	0.10	(0.10)	0.59

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