Ashmore Emerging Correlations

EMECX Fund

USD 10.46 0.07 0.66%

The current 90-days correlation between Ashmore Emerging Markets and Nebraska Municipal Fund is -0.04 (i.e., Good 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

Weak diversification

The correlation between Ashmore Emerging Markets and DJI is 0.36 (i.e., Weak 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 main economic indicators.

Moving together with Ashmore Mutual Fund

0.72	EMCIX	Ashmore Emerging Markets	Pair Corr
1.0	EMEAX	Ashmore Emerging Markets	Pair Corr
1.0	EMFIX	Ashmore Emerging Markets	Pair Corr
0.9	EMQIX	Ashmore Emerging Markets	Pair Corr
0.96	EMQCX	Ashmore Emerging Markets	Pair Corr
0.98	ESCGX	Ashmore Emerging Markets	Pair Corr
0.69	ESDCX	Ashmore Emerging Markets	Pair Corr
0.98	ESIGX	Ashmore Emerging Markets	Pair Corr
0.68	ECDCX	Ashmore Emerging Markets	Pair Corr
0.94	VEMAX	Vanguard Emerging Markets	Pair Corr
0.98	VEIEX	Vanguard Emerging Markets	Pair Corr
0.98	VEMIX	Vanguard Emerging Markets	Pair Corr
0.97	VEMRX	Vanguard Emerging Markets	Pair Corr
0.93	FWWNX	American Funds New	Pair Corr
0.93	FNFWX	American Funds New	Pair Corr
0.96	NEWFX	New World Fund	Pair Corr
0.96	NWFFX	New World Fund	Pair Corr
0.95	NEWCX	New World Fund	Pair Corr
0.94	ODVYX	Oppenheimer Developing	Pair Corr
0.62	NHS	Neuberger Berman High	Pair Corr

Moving against Ashmore Mutual Fund

0.68

PFHCX

Pacific Funds Small

Pair Corr

Related Correlations Analysis

	NEITX	VEIEX	USCBX	PTIAX	ASTIX	PRVBX	MGGNX
NEITX		-0.12	0.94	0.8	-0.32	0.02	0.63	NEITX
VEIEX	-0.12		-0.01	-0.23	0.35	0.66	0.2	VEIEX
USCBX	0.94	-0.01		0.59	-0.04	0.17	0.66	USCBX
PTIAX	0.8	-0.23	0.59		-0.68	-0.01	0.53	PTIAX
ASTIX	-0.32	0.35	-0.04	-0.68		0.45	0.03	ASTIX
PRVBX	0.02	0.66	0.17	-0.01	0.45		0.53	PRVBX
MGGNX	0.63	0.2	0.66	0.53	0.03	0.53		MGGNX
	NEITX	VEIEX	USCBX	PTIAX	ASTIX	PRVBX	MGGNX

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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

USCBX	+ 0.94	NEITX
PTIAX	+ 0.8	NEITX
PRVBX	+ 0.66	VEIEX
MGGNX	+ 0.66	USCBX
MGGNX	+ 0.63	NEITX
PTIAX	+ 0.59	USCBX

High negative correlations

ASTIX	- 0.68	PTIAX
ASTIX	- 0.32	NEITX
PTIAX	- 0.23	VEIEX
VEIEX	- 0.12	NEITX
ASTIX	- 0.04	USCBX
PRVBX	- 0.01	PTIAX

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
NEITX	0.17	0.01	(0.22)	(0.02)	0.26	(0.28)	0.43	(0.32)	1.62
VEIEX	0.71	(0.03)	(0.11)	0.04	0.85	(0.78)	1.55	(1.68)	4.60
USCBX	0.16	0.02	(0.24)	(0.09)	0.22	(0.23)	0.39	(0.29)	1.74
PTIAX	0.23	(0.01)	0.00	0.20	0.00	0.00	0.46	(0.55)	1.31
ASTIX	0.28	0.05	(0.14)	1.86	0.26	(0.31)	0.57	(0.64)	1.79
PRVBX	0.09	0.00	(0.87)	0.49	0.00	(0.10)	0.20	(0.20)	0.53
MGGNX	0.19	0.01	(0.39)	(1.42)	0.17	(0.24)	0.34	(0.34)	1.13

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