Artisan High Correlations

APDFX Fund

USD 9.16 0.01 0.11%

The current 90-days correlation between Artisan High Income and Vanguard High Yield Corporate is 0.76 (i.e., Poor diversification). The correlation of Artisan High 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.

Artisan High Correlation With Market

Modest diversification

The correlation between Artisan High Income and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Artisan High Income and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Artisan High Income. 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 census.

Moving together with Artisan Mutual Fund

0.81	APDWX	Artisan Value Income	Pair Corr
0.92	APDYX	Artisan Developing World	Pair Corr
0.85	APDTX	Artisan Thematic	Pair Corr
0.8	APDSX	Artisan Small Cap	Pair Corr
0.92	APDUX	Artisan Floating Rate	Pair Corr
0.83	APDPX	Artisan Global Uncon	Pair Corr
0.94	APDOX	Artisan Emerging Markets	Pair Corr
0.82	APDRX	Artisan Global Oppor	Pair Corr
0.65	APDQX	Artisan Mid Cap	Pair Corr
0.8	APDMX	Artisan Mid Cap	Pair Corr
0.69	APDLX	Artisan Value	Pair Corr
0.82	APDDX	Artisan Global Discovery	Pair Corr
0.81	APFWX	Artisan Value Income	Pair Corr
0.83	APFPX	Artisan Global Uncon	Pair Corr
0.81	APHWX	Artisan Value Income	Pair Corr
0.94	APHOX	Artisan Emerging Markets	Pair Corr
0.83	APHPX	Artisan Global Uncon	Pair Corr
0.65	ARTQX	Artisan Mid Cap	Pair Corr
0.8	ARTSX	Artisan Small Cap	Pair Corr
0.82	ARTRX	Artisan Global Oppor	Pair Corr
0.8	ARTMX	Artisan Mid Cap	Pair Corr
0.69	ARTLX	Artisan Value	Pair Corr
1.0	ARTFX	Artisan High Income	Pair Corr
0.92	ARTYX	Artisan Developing World	Pair Corr
0.93	ARTUX	Artisan Floating Rate	Pair Corr
0.85	ARTTX	Artisan Thematic	Pair Corr

Moving against Artisan Mutual Fund

0.39	APDKX	Artisan International	Pair Corr
0.4	ARTKX	Artisan International	Pair Corr

Related Correlations Analysis

	VWEAX	VWEHX	BHYCX	BHYIX	BHYSX	BHYAX	FAHHX	FTAHX	AHTFX	AHTCX
VWEAX		1.0	0.92	0.91	0.9	0.91	0.85	0.83	0.87	0.89	VWEAX
VWEHX	1.0		0.92	0.9	0.9	0.9	0.84	0.83	0.86	0.88	VWEHX
BHYCX	0.92	0.92		0.99	0.99	0.99	0.96	0.96	0.97	0.98	BHYCX
BHYIX	0.91	0.9	0.99		0.99	0.99	0.97	0.97	0.98	0.98	BHYIX
BHYSX	0.9	0.9	0.99	0.99		0.99	0.98	0.97	0.98	0.99	BHYSX
BHYAX	0.91	0.9	0.99	0.99	0.99		0.98	0.97	0.98	0.99	BHYAX
FAHHX	0.85	0.84	0.96	0.97	0.98	0.98		1.0	1.0	0.99	FAHHX
FTAHX	0.83	0.83	0.96	0.97	0.97	0.97	1.0		1.0	0.99	FTAHX
AHTFX	0.87	0.86	0.97	0.98	0.98	0.98	1.0	1.0		1.0	AHTFX
AHTCX	0.89	0.88	0.98	0.98	0.99	0.99	0.99	0.99	1.0		AHTCX
	VWEAX	VWEHX	BHYCX	BHYIX	BHYSX	BHYAX	FAHHX	FTAHX	AHTFX	AHTCX

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Risk-Adjusted Indicators

There is a big difference between Artisan Mutual Fund performing well and Artisan High 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 Artisan High'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
VWEAX	0.10	0.00	(0.49)	0.24	(0.23)	0.37	(0.18)	0.74
VWEHX	0.10	0.00	(0.51)	0.18	(0.22)	0.19	(0.18)	0.73
BHYCX	0.11	0.01	(0.51)	0.24	(0.20)	0.28	(0.28)	0.85
BHYIX	0.12	0.01	(0.43)	0.23	(0.21)	0.28	(0.28)	0.85
BHYSX	0.14	0.01	(0.49)	0.21	(0.20)	0.28	(0.28)	0.85
BHYAX	0.13	0.01	(0.47)	0.23	(0.21)	0.28	(0.28)	0.85
FAHHX	0.13	0.02	(0.53)	0.33	(0.20)	0.31	(0.20)	0.92
FTAHX	0.13	0.02	(0.56)	0.34	(0.20)	0.31	(0.20)	0.83
AHTFX	0.13	0.02	(0.53)	0.32	(0.20)	0.31	(0.20)	0.93
AHTCX	0.13	0.01	(0.55)	0.28	(0.19)	0.31	(0.20)	0.83

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