Ashmore Emerging Correlations

ESIGX Fund

USD 10.90 0.02 0.18%

The current 90-days correlation between Ashmore Emerging Markets and Timothy Plan Conservative is 0.63 (i.e., Poor 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

Good diversification

The correlation between Ashmore Emerging Markets and DJI is -0.05 (i.e., Good 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 price.

Moving together with Ashmore Mutual Fund

0.67	EMCIX	Ashmore Emerging Markets	Pair Corr
0.84	EMECX	Ashmore Emerging Markets	Pair Corr
0.83	EMEAX	Ashmore Emerging Markets	Pair Corr
0.83	EMFIX	Ashmore Emerging Markets	Pair Corr
0.72	EMKIX	Ashmore Emerging Markets	Pair Corr
0.71	EMKCX	Ashmore Emerging Markets	Pair Corr
0.72	EMKAX	Ashmore Emerging Markets	Pair Corr
0.8	EMQCX	Ashmore Emerging Markets	Pair Corr
0.61	ESFIX	Ashmore Emerging Markets	Pair Corr
0.7	EFEAX	Ashmore Emerging Markets	Pair Corr
0.68	IGIEX	Ashmore Emerging Markets	Pair Corr
0.79	VEMAX	Vanguard Emerging Markets	Pair Corr
0.79	VEIEX	Vanguard Emerging Markets	Pair Corr
0.79	VEMIX	Vanguard Emerging Markets	Pair Corr
0.79	VEMRX	Vanguard Emerging Markets	Pair Corr
0.78	FWWNX	American Funds New	Pair Corr
0.78	FNFWX	American Funds New	Pair Corr
0.88	NEWFX	New World Fund	Pair Corr
0.78	NWFFX	New World Fund	Pair Corr
0.77	NEWCX	New World Fund	Pair Corr
0.8	ODVYX	Oppenheimer Developing	Pair Corr
0.69	UGPIX	Ultrachina Profund	Pair Corr
0.69	UGPSX	Ultrachina Profund	Pair Corr
0.75	DBIWX	Dws Global Macro	Pair Corr
0.64	HWACX	Hotchkis Wiley Value	Pair Corr
0.65	SGDLX	Sprott Gold Equity	Pair Corr
0.65	HTD	John Hancock Tax	Pair Corr
0.62	VICSX	Vanguard Intermediate-ter	Pair Corr

Related Correlations Analysis

	TIICX	PGBAX	OIDAX	FZABX	MNDWX	QDARX	SRDAX
TIICX		0.78	0.85	0.8	0.71	0.58	-0.05	TIICX
PGBAX	0.78		0.78	0.88	0.91	0.88	-0.34	PGBAX
OIDAX	0.85	0.78		0.76	0.74	0.55	-0.19	OIDAX
FZABX	0.8	0.88	0.76		0.73	0.86	-0.17	FZABX
MNDWX	0.71	0.91	0.74	0.73		0.69	-0.39	MNDWX
QDARX	0.58	0.88	0.55	0.86	0.69		-0.21	QDARX
SRDAX	-0.05	-0.34	-0.19	-0.17	-0.39	-0.21		SRDAX
	TIICX	PGBAX	OIDAX	FZABX	MNDWX	QDARX	SRDAX

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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

MNDWX	+ 0.91	PGBAX
FZABX	+ 0.88	PGBAX
QDARX	+ 0.88	PGBAX
QDARX	+ 0.86	FZABX
OIDAX	+ 0.85	TIICX
FZABX	+ 0.8	TIICX

High negative correlations

SRDAX	- 0.39	MNDWX
SRDAX	- 0.34	PGBAX
SRDAX	- 0.21	QDARX
SRDAX	- 0.19	OIDAX
SRDAX	- 0.17	FZABX
SRDAX	- 0.05	TIICX

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
TIICX	0.38	0.00	(0.01)	0.01	0.42	(0.47)	0.78	(0.68)	1.57
PGBAX	0.14	0.01	0.01	(0.12)	0.09	(0.18)	0.34	(0.25)	0.85
OIDAX	0.71	(0.04)	0.00	0.17	0.00	0.00	1.42	(1.46)	5.03
FZABX	0.74	0.09	0.07	0.13	1.01	(0.72)	1.45	(1.37)	6.16
MNDWX	0.12	(0.01)	0.00	(3.64)	0.00	0.00	0.20	(0.38)	0.96
QDARX	0.08	0.03	0.26	1.92	0.00	(0.13)	0.25	(0.08)	0.49
SRDAX	0.17	0.00	0.00	0.00	0.18	(0.20)	0.29	(0.37)	0.76

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