Ashmore Emerging Correlations

Mutual Funds . USA . 
Fund . Ashmore Emerging Markets
EMKIX Fund  USD 5.17  0.01  0.19%   
The current 90-days correlation between Ashmore Emerging Markets and Morningstar Municipal Bond is 0.41 (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

Good diversification

The correlation between Ashmore Emerging Markets and DJI is -0.1 (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 gross domestic product.

Moving together with Ashmore Mutual Fund

  0.94EMCIX Ashmore Emerging MarketsPairCorr
  0.91EMECX Ashmore Emerging MarketsPairCorr
  0.92EMEAX Ashmore Emerging MarketsPairCorr
  0.91EMFIX Ashmore Emerging MarketsPairCorr
  0.99EMKCX Ashmore Emerging MarketsPairCorr
  1.0EMKAX Ashmore Emerging MarketsPairCorr
  0.89EMQIX Ashmore Emerging MarketsPairCorr
  0.88EMQCX Ashmore Emerging MarketsPairCorr
  0.91EMQAX Ashmore Emerging MarketsPairCorr
  0.81EMXIX Ashmore Emerging MarketsPairCorr
  0.79EMXCX Ashmore Emerging MarketsPairCorr
  0.81EMXAX Ashmore Emerging MarketsPairCorr
  0.93ESAGX Ashmore Emerging MarketsPairCorr
  0.92ESCGX Ashmore Emerging MarketsPairCorr
  0.65ESFCX Ashmore Emerging MarketsPairCorr
  0.69ESFAX Ashmore Emerging MarketsPairCorr
  0.72ESFIX Ashmore Emerging MarketsPairCorr
  0.92ESIGX Ashmore Emerging MarketsPairCorr
  0.68ESSCX Ashmore Emerging MarketsPairCorr
  0.95ECDCX Ashmore Emerging MarketsPairCorr
  0.96ECDAX Ashmore Emerging MarketsPairCorr
  0.9EFEIX Ashmore Emerging MarketsPairCorr
  0.9EFECX Ashmore Emerging MarketsPairCorr
  0.86EFEAX Ashmore Emerging MarketsPairCorr
  0.97IGAEX Ashmore Emerging MarketsPairCorr
  0.97IGIEX Ashmore Emerging MarketsPairCorr
  0.94ELBIX Ashmore Emerging MarketsPairCorr
  0.93ELBCX Ashmore Emerging MarketsPairCorr
  0.94ELBAX Ashmore Emerging MarketsPairCorr
  0.95FGBMX Fidelity New MarketsPairCorr
  0.95FGZMX Fidelity New MarketsPairCorr
  0.96FGWMX Fidelity New MarketsPairCorr
  0.96FGVMX Fidelity New MarketsPairCorr
  0.96FGYMX Fidelity New MarketsPairCorr
  0.95MEDIX Mfs Emerging MarketsPairCorr
  0.97MEDCX Mfs Emerging MarketsPairCorr
  0.97MEDAX Mfs Emerging MarketsPairCorr

Related Correlations Analysis


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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