Ashmore Emerging Correlations

Mutual Funds . USA . 
Fund . Ashmore Emerging Markets
EMFIX Fund  USD 11.24  0.02  0.18%   
The current 90-days correlation between Ashmore Emerging Markets and Ashmore Emerging Markets is -0.02 (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

Very weak diversification

The correlation between Ashmore Emerging Markets and DJI is 0.43 (i.e., Very 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 gross domestic product.

Moving together with Ashmore Mutual Fund

  0.76EMCIX Ashmore Emerging MarketsPairCorr
  1.0EMECX Ashmore Emerging MarketsPairCorr
  1.0EMEAX Ashmore Emerging MarketsPairCorr
  0.82EMKIX Ashmore Emerging MarketsPairCorr
  0.82EMKCX Ashmore Emerging MarketsPairCorr
  0.82EMKAX Ashmore Emerging MarketsPairCorr
  0.97EMQCX Ashmore Emerging MarketsPairCorr
  0.71ESFIX Ashmore Emerging MarketsPairCorr
  0.84EFEAX Ashmore Emerging MarketsPairCorr
  0.74IGIEX Ashmore Emerging MarketsPairCorr
  0.94VEMAX Vanguard Emerging MarketsPairCorr
  0.94VEIEX Vanguard Emerging MarketsPairCorr
  0.94VEMIX Vanguard Emerging MarketsPairCorr
  0.94VEMRX Vanguard Emerging MarketsPairCorr
  0.89FWWNX American Funds NewPairCorr
  0.89FNFWX American Funds NewPairCorr
  0.75NEWFX New World FundPairCorr
  0.89NWFFX New World FundPairCorr
  0.88NEWCX New World FundPairCorr
  0.98ODVYX Oppenheimer DevelopingPairCorr
  0.86UGPIX Ultrachina ProfundPairCorr
  0.86UGPSX Ultrachina ProfundPairCorr
  0.76PMPIX Precious Metals UltrPairCorr
  0.77DBIWX Dws Global MacroPairCorr
  0.67HRBDX Harbor Bond FundPairCorr
  0.73HWACX Hotchkis Wiley ValuePairCorr
  0.74SGDLX Sprott Gold EquityPairCorr
  0.66GIOIX Guggenheim Macro OppPairCorr
  0.79HTD John Hancock TaxPairCorr
  0.69UTF Cohen And SteersPairCorr
  0.64USGDX Morgan Stanley GovernmentPairCorr
  0.71VICSX Vanguard Intermediate-terPairCorr
  0.68ABNOX Ab Bond InflationPairCorr

Related Correlations Analysis

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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.

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