Ancelotti not living in shadow of former Chelsea boss Mourinho
But the Italian is not concerned with Mourinho's legacy ahead of Sunday's crucial clash with Stoke at Stamford Bridge.
"I understand two things, ghost and Mourinho," Ancelotti said. "Maybe it's true if Joe Cole says this, but Mourinho is not my ghost.
"He's a very good coach. He's doing a fantastic job at Inter. He did a fantastic Champions League semi-final against Barcelona. But now it's a different story."
However, Cole said: "The fact we have not won the title since Mourinho is probably hanging over us.
"We have only won one cup since then and been within the width of a post of winning the Champions League.
"We're hoping it's going to happen this season. We have put ourselves in a great position. Jose is a great manager but he is not the be all and end all for a football club, no one is. It's about the dynamics and how the club works.
"The most frustrating thing for us really is that we should be six or seven points clear."