Ashmore Emerging Correlations

ESCIX Fund

USD 20.54 0.17 0.82%

The current 90-days correlation between Ashmore Emerging Markets and Ashmore Emerging Markets 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

Significant diversification

The correlation between Ashmore Emerging Markets and DJI is 0.08 (i.e., Significant 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

0.83	EMCIX	Ashmore Emerging Markets	Pair Corr
0.99	EMECX	Ashmore Emerging Markets	Pair Corr
0.88	EMEAX	Ashmore Emerging Markets	Pair Corr
0.72	EMFIX	Ashmore Emerging Markets	Pair Corr
0.86	EMKIX	Ashmore Emerging Markets	Pair Corr
0.85	EMKCX	Ashmore Emerging Markets	Pair Corr
0.85	EMKAX	Ashmore Emerging Markets	Pair Corr
0.99	EMQIX	Ashmore Emerging Markets	Pair Corr
0.73	EMQCX	Ashmore Emerging Markets	Pair Corr
0.87	EMQAX	Ashmore Emerging Markets	Pair Corr
0.76	EMXIX	Ashmore Emerging Markets	Pair Corr
0.88	EMXCX	Ashmore Emerging Markets	Pair Corr
0.75	EMXAX	Ashmore Emerging Markets	Pair Corr
0.88	ESAGX	Ashmore Emerging Markets	Pair Corr
0.7	ESCGX	Ashmore Emerging Markets	Pair Corr
0.73	ESIGX	Ashmore Emerging Markets	Pair Corr
0.72	ESSCX	Ashmore Emerging Markets	Pair Corr
0.72	ESSAX	Ashmore Emerging Markets	Pair Corr
0.64	ECDCX	Ashmore Emerging Markets	Pair Corr
0.75	EFEIX	Ashmore Emerging Markets	Pair Corr
0.82	EFECX	Ashmore Emerging Markets	Pair Corr
0.79	EFEAX	Ashmore Emerging Markets	Pair Corr
0.64	IGAEX	Ashmore Emerging Markets	Pair Corr
0.64	IGCEX	Ashmore Emerging Markets	Pair Corr
0.72	IGIEX	Ashmore Emerging Markets	Pair Corr
0.94	ELBIX	Ashmore Emerging Markets	Pair Corr
0.7	ELBCX	Ashmore Emerging Markets	Pair Corr
0.7	ELBAX	Ashmore Emerging Markets	Pair Corr
0.71	VEMAX	Vanguard Emerging Markets	Pair Corr
0.71	VEIEX	Vanguard Emerging Markets	Pair Corr
0.71	VEMIX	Vanguard Emerging Markets	Pair Corr
0.71	VEMRX	Vanguard Emerging Markets	Pair Corr
0.78	FWWNX	American Funds New	Pair Corr
0.89	FNFWX	American Funds New	Pair Corr
0.73	NEWFX	New World Fund	Pair Corr

Moving against Ashmore Mutual Fund

0.47	ESFCX	Ashmore Emerging Markets	Pair Corr
0.43	ESFAX	Ashmore Emerging Markets	Pair Corr

Related Correlations Analysis

	EMCIX	EMECX	EMEAX	EMFIX	EMKIX	EMKCX	EMKAX	AEOIX	AEOAX
EMCIX		0.8	0.88	0.64	0.98	0.96	0.96	0.0	0.0	EMCIX
EMECX	0.8		0.86	0.73	0.82	0.82	0.82	0.0	0.0	EMECX
EMEAX	0.88	0.86		0.64	0.91	0.9	0.9	0.0	0.0	EMEAX
EMFIX	0.64	0.73	0.64		0.68	0.69	0.69	0.0	0.0	EMFIX
EMKIX	0.98	0.82	0.91	0.68		0.99	0.99	0.0	0.0	EMKIX
EMKCX	0.96	0.82	0.9	0.69	0.99		1.0	0.0	0.0	EMKCX
EMKAX	0.96	0.82	0.9	0.69	0.99	1.0		0.0	0.0	EMKAX
AEOIX	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	AEOIX
AEOAX	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		AEOAX
	EMCIX	EMECX	EMEAX	EMFIX	EMKIX	EMKCX	EMKAX	AEOIX	AEOAX

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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

EMKAX	+ 1.0	EMKCX
EMKCX	+ 0.99	EMKIX
EMKAX	+ 0.99	EMKIX
EMKIX	+ 0.98	EMCIX
EMKCX	+ 0.96	EMCIX
EMKAX	+ 0.96	EMCIX

High negative correlations

AEOAX	- 0.0	AEOIX
AEOAX	- 0.0	EMKAX
AEOIX	- 0.0	EMKAX
AEOAX	- 0.0	EMKCX
AEOIX	- 0.0	EMKCX
AEOAX	- 0.0	EMKIX

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
EMCIX	0.17	0.02	(0.50)	0.42	0.00	(0.31)	0.54	(0.18)	1.26
EMECX	0.57	0.29	0.24	(5.85)	0.00	(0.75)	1.61	(0.62)	4.50
EMEAX	0.58	0.22	0.25	0.59	0.00	(0.75)	1.64	(0.82)	4.63
EMFIX	0.60	0.21	0.19	0.52	0.13	(0.79)	1.64	(0.86)	4.57
EMKIX	0.21	0.04	(0.25)	0.49	0.00	(0.30)	0.40	(0.39)	1.62
EMKCX	0.18	0.02	(0.33)	0.34	0.00	(0.30)	0.41	(0.40)	1.02
EMKAX	0.18	0.02	(0.33)	0.32	0.00	(0.29)	0.41	(0.39)	1.00
AEOIX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AEOAX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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