Ashmore Emerging Correlations

EMKIX Fund

USD 4.99 0.02 0.40%

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

Average diversification

The correlation between Ashmore Emerging Markets and DJI is 0.17 (i.e., Average 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

0.97	EMCIX	Ashmore Emerging Markets	Pair Corr
0.81	EMECX	Ashmore Emerging Markets	Pair Corr
0.82	EMEAX	Ashmore Emerging Markets	Pair Corr
0.82	EMFIX	Ashmore Emerging Markets	Pair Corr
1.0	EMKCX	Ashmore Emerging Markets	Pair Corr
1.0	EMKAX	Ashmore Emerging Markets	Pair Corr
0.88	EMQCX	Ashmore Emerging Markets	Pair Corr
0.9	ESFIX	Ashmore Emerging Markets	Pair Corr
0.85	EFEAX	Ashmore Emerging Markets	Pair Corr
0.94	IGIEX	Ashmore Emerging Markets	Pair Corr
0.97	FGBMX	Fidelity New Markets	Pair Corr
0.97	FGZMX	Fidelity New Markets	Pair Corr
0.97	FGWMX	Fidelity New Markets	Pair Corr
0.97	FGVMX	Fidelity New Markets	Pair Corr
0.97	FGYMX	Fidelity New Markets	Pair Corr
0.94	MEDIX	Mfs Emerging Markets	Pair Corr
0.94	MEDCX	Mfs Emerging Markets	Pair Corr
0.94	MEDAX	Mfs Emerging Markets	Pair Corr
0.94	MEDBX	Mfs Emerging Markets	Pair Corr
0.94	MEDEX	Mfs Emerging Markets	Pair Corr
0.92	ABNOX	Ab Bond Inflation	Pair Corr
0.86	USGDX	Morgan Stanley Government	Pair Corr
0.72	TIMUX	Transamerica Intermediate	Pair Corr
0.83	UTF	Cohen And Steers	Pair Corr
0.9	HRBDX	Harbor Bond Fund	Pair Corr
0.92	GIOIX	Guggenheim Macro Opp	Pair Corr

Moving against Ashmore Mutual Fund

0.7	SMPIX	Semiconductor Ultrasector	Pair Corr
0.69	SMPSX	Semiconductor Ultrasector	Pair Corr
0.45	RGNCX	Victory Global Natural	Pair Corr
0.43	RSNYX	Victory Global Natural	Pair Corr
0.43	RSNRX	Victory Global Natural	Pair Corr

Related Correlations Analysis

	TCSGX	CGTCX	TUIXX	FIKPX	FCSCX	RGVJX
TCSGX		0.95	0.52	0.93	0.99	0.96	TCSGX
CGTCX	0.95		0.33	0.99	0.94	1.0	CGTCX
TUIXX	0.52	0.33		0.3	0.53	0.35	TUIXX
FIKPX	0.93	0.99	0.3		0.92	0.99	FIKPX
FCSCX	0.99	0.94	0.53	0.92		0.95	FCSCX
RGVJX	0.96	1.0	0.35	0.99	0.95		RGVJX
	TCSGX	CGTCX	TUIXX	FIKPX	FCSCX	RGVJX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TCSGX	0.08	0.01	0.07	(9.73)	0.00	(0.14)	0.20	(0.20)	0.59
CGTCX	0.25	0.02	0.05	0.68	0.25	(0.29)	0.61	(0.50)	1.56
TUIXX	0.03	0.01	0.00	(0.31)	0.00	0.00	0.00	0.00	1.01
FIKPX	0.24	0.01	0.03	5.32	0.22	(0.28)	0.56	(0.44)	1.34
FCSCX	0.06	0.01	0.05	0.76	0.00	(0.18)	0.13	(0.13)	0.66
RGVJX	0.25	0.02	0.06	1.06	0.24	(0.30)	0.60	(0.50)	1.55

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