Ashmore Emerging Markets Fund Market Value
| EFEIX Fund | USD 11.72 0.12 1.03% |
| Symbol | Ashmore |
Ashmore Emerging 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Ashmore Emerging's mutual fund what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Ashmore Emerging.
| 02/07/2024 |
| 05/07/2024 |
If you would invest 0.00 in Ashmore Emerging on February 7, 2024 and sell it all today you would earn a total of 0.00 from holding Ashmore Emerging Markets or generate 0.0% return on investment in Ashmore Emerging over 90 days. Ashmore Emerging is related to or competes with Ashmore Emerging, Ashmore Emerging, Ashmore Emerging, Ashmore Emerging, Ashmore Emerging, Ashmore Emerging, and Ashmore Emerging. The fund seeks to achieve its objective by investing principally in equity securities and equity-related investments of ... More
Ashmore Emerging Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Ashmore Emerging's mutual fund current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Ashmore Emerging Markets upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.7056 | |||
| Information Ratio | 0.1866 | |||
| Maximum Drawdown | 3.67 | |||
| Value At Risk | (0.54) | |||
| Potential Upside | 1.14 |
Ashmore Emerging Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Ashmore Emerging's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Ashmore Emerging's standard deviation. In reality, there are many statistical measures that can use Ashmore Emerging historical prices to predict the future Ashmore Emerging's volatility.| Risk Adjusted Performance | 0.1982 | |||
| Jensen Alpha | 0.1391 | |||
| Total Risk Alpha | 0.1119 | |||
| Sortino Ratio | 0.1504 | |||
| Treynor Ratio | 0.3471 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Ashmore Emerging's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Ashmore Emerging Markets Backtested Returns
We consider Ashmore Emerging very steady. Ashmore Emerging Markets secures Sharpe Ratio (or Efficiency) of 0.31, which signifies that the fund had a 0.31% return per unit of standard deviation over the last 3 months. We have found twenty-seven technical indicators for Ashmore Emerging Markets, which you can use to evaluate the volatility of the entity. Please confirm Ashmore Emerging's mean deviation of 0.3899, and Risk Adjusted Performance of 0.1982 to double-check if the risk estimate we provide is consistent with the expected return of 0.18%. The fund shows a Beta (market volatility) of 0.49, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Ashmore Emerging's returns are expected to increase less than the market. However, during the bear market, the loss of holding Ashmore Emerging is expected to be smaller as well.
Auto-correlation | -0.29 |
Weak reverse predictability
Ashmore Emerging Markets has weak reverse predictability. Overlapping area represents the amount of predictability between Ashmore Emerging time series from 7th of February 2024 to 23rd of March 2024 and 23rd of March 2024 to 7th of May 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Ashmore Emerging Markets price movement. The serial correlation of -0.29 indicates that nearly 29.0% of current Ashmore Emerging price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.29 | |
| Spearman Rank Test | -0.24 | |
| Residual Average | 0.0 | |
| Price Variance | 0.04 |
Ashmore Emerging Markets lagged returns against current returns
Autocorrelation, which is Ashmore Emerging mutual fund's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Ashmore Emerging's mutual fund expected returns. We can calculate the autocorrelation of Ashmore Emerging returns to help us make a trade decision. For example, suppose you find that Ashmore Emerging has exhibited high autocorrelation historically, and you observe that the mutual fund is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Ashmore Emerging regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Ashmore Emerging mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Ashmore Emerging mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Ashmore Emerging mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Ashmore Emerging Lagged Returns
When evaluating Ashmore Emerging's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Ashmore Emerging mutual fund have on its future price. Ashmore Emerging autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Ashmore Emerging autocorrelation shows the relationship between Ashmore Emerging mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Ashmore Emerging Markets.
Regressed Prices |
| Timeline |
Pair Trading with Ashmore Emerging
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Ashmore Emerging position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Ashmore Emerging will appreciate offsetting losses from the drop in the long position's value.Moving together with Ashmore Mutual Fund
| 0.89 | EMECX | Ashmore Emerging Markets | PairCorr |
| 0.9 | EMEAX | Ashmore Emerging Markets | PairCorr |
| 0.9 | EMFIX | Ashmore Emerging Markets | PairCorr |
Moving against Ashmore Mutual Fund
| 0.42 | ESFCX | Ashmore Emerging Markets | PairCorr |
The ability to find closely correlated positions to Ashmore Emerging 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 Emerging 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 Emerging - 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 Emerging Markets to buy it.
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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Ashmore Emerging moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ashmore Emerging Markets moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Ashmore Emerging can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Ashmore Emerging Correlation, Ashmore Emerging Volatility and Ashmore Emerging Alpha and Beta module to complement your research on Ashmore Emerging. You can also try the Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
Ashmore Emerging technical mutual fund analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, fund market cycles, or different charting patterns.