Ashmore Group Correlations

AJMPF Stock

USD 2.70 0.00 0.00%

The current 90-days correlation between Ashmore Group Plc and Gabelli Equity Trust is -0.1 (i.e., Good diversification). The correlation of Ashmore Group 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.

Ashmore Group Correlation With Market

Good diversification

The correlation between Ashmore Group Plc and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ashmore Group Plc and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Ashmore Group could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ashmore Group when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Ashmore Group - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Ashmore Group Plc to buy it.

Moving together with Ashmore Pink Sheet

0.87	BX	Blackstone Group Fiscal Year End 23rd of January 2025	Pair Corr
0.77	BLK	BlackRock Fiscal Year End 10th of January 2025	Pair Corr
0.84	APO	Apollo Global Management	Pair Corr
0.79	BK	Bank of New York Fiscal Year End 10th of January 2025	Pair Corr
0.72	ARES	Ares Management LP	Pair Corr
0.84	AMP	Ameriprise Financial Fiscal Year End 22nd of January 2025	Pair Corr
0.86	KNTK	Kinetik Holdings	Pair Corr
0.82	MMSI	Merit Medical Systems	Pair Corr
0.78	GOOD	Gladstone Commercial	Pair Corr
0.87	AVTE	Aerovate Therapeutics	Pair Corr
0.77	GOOG	Alphabet Class C Buyout Trend	Pair Corr
0.87	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.74	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.79	CSCO	Cisco Systems	Pair Corr
0.69	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.87	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.78	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.82	DIS	Walt Disney	Pair Corr
0.82	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.69	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr

Moving against Ashmore Pink Sheet

0.81	IVSBF	Investor AB ser	Pair Corr
0.49	BAMGF	Brookfield Asset Man	Pair Corr
0.42	IVSXF	Investor AB	Pair Corr
0.41	AMPH	Amphastar P	Pair Corr
0.93	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.9	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.85	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.46	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr
0.42	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr
0.36	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr

Related Correlations Analysis

	CAF	CEE	IIF	NOM	CHN	MXE	MMU	MUE	GUT	GCV
CAF		0.0	-0.06	0.12	0.95	0.29	-0.06	-0.16	-0.58	-0.51	CAF
CEE	0.0		-0.29	0.0	0.11	-0.71	-0.49	0.21	0.24	0.52	CEE
IIF	-0.06	-0.29		0.54	-0.16	0.53	0.7	0.6	0.21	-0.08	IIF
NOM	0.12	0.0	0.54		0.11	0.17	0.57	0.71	0.43	0.27	NOM
CHN	0.95	0.11	-0.16	0.11		0.15	-0.21	-0.2	-0.6	-0.48	CHN
MXE	0.29	-0.71	0.53	0.17	0.15		0.56	-0.07	-0.38	-0.66	MXE
MMU	-0.06	-0.49	0.7	0.57	-0.21	0.56		0.62	0.23	0.05	MMU
MUE	-0.16	0.21	0.6	0.71	-0.2	-0.07	0.62		0.59	0.54	MUE
GUT	-0.58	0.24	0.21	0.43	-0.6	-0.38	0.23	0.59		0.75	GUT
GCV	-0.51	0.52	-0.08	0.27	-0.48	-0.66	0.05	0.54	0.75		GCV
	CAF	CEE	IIF	NOM	CHN	MXE	MMU	MUE	GUT	GCV

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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

CHN	+ 0.95	CAF
GCV	+ 0.75	GUT
MUE	+ 0.71	NOM
MMU	+ 0.7	IIF
MUE	+ 0.62	MMU
MUE	+ 0.6	IIF

High negative correlations

MXE	- 0.71	CEE
GCV	- 0.66	MXE
GUT	- 0.6	CHN
GUT	- 0.58	CAF
GCV	- 0.51	CAF
MMU	- 0.49	CEE

Risk-Adjusted Indicators

There is a big difference between Ashmore Pink Sheet performing well and Ashmore Group Company 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 Group'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
CAF	1.98	0.26	0.03	(0.46)	2.53	(2.25)	6.26	(4.36)	19.41
CEE	1.18	0.17	0.12	0.32	1.03	(1.43)	3.64	(1.95)	13.97
IIF	0.66	0.04	(0.04)	0.21	0.87	(0.63)	1.43	(1.39)	3.42
NOM	0.81	0.14	0.00	(0.49)	0.90	(0.91)	1.64	(1.92)	9.44
CHN	2.06	0.47	0.14	(3.36)	2.12	(2.43)	7.02	(3.91)	18.26
MXE	0.89	(0.05)	0.00	(0.04)	0.00	0.00	2.23	(1.52)	5.90
MMU	0.40	(0.02)	0.00	1.07	0.00	0.00	0.77	(0.87)	2.12
MUE	0.42	0.06	(0.09)	(4.88)	0.50	(0.44)	0.86	(0.77)	2.53
GUT	0.81	0.06	(0.09)	(0.18)	0.75	(1.12)	2.20	(1.33)	4.74
GCV	0.83	(0.04)	0.00	(0.04)	0.00	0.00	1.52	(1.80)	4.04

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Our tools can tell you how much better you can do entering a position in Ashmore Group without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Ashmore Group Corporate Management

Mark Grimwood	Compliance Officer	Profile
Alexandra Autrey	Group Sec	Profile
Jake Ward	Frontier Analyst	Profile
Camilo Villaveces	Colombia Exec	Profile
Kevin Bond	Head Devel	Profile
Robert Hegt	Global Management	Profile
Thomas ACA	Group Director	Profile

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