Artisan Global Correlations

APHHX Fund

USD 22.10 0.10 0.45%

The current 90-days correlation between Artisan Global Equity and Artisan Select Equity is -0.19 (i.e., Good diversification). The correlation of Artisan Global 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 Global Correlation With Market

Poor diversification

The correlation between Artisan Global Equity and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Artisan Global Equity 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 Global Equity. 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 rate.

Moving together with ARTISAN Mutual Fund

0.66	APDNX	Artisan Select Equity	Pair Corr
0.64	APHYX	Artisan Developing World	Pair Corr
0.65	APHTX	Artisan Focus	Pair Corr
0.81	APHSX	Artisan Small Cap	Pair Corr
0.66	APHNX	Artisan Select Equity	Pair Corr
0.86	APHRX	Artisan Global Oppor	Pair Corr
0.84	APHQX	Artisan Mid Cap	Pair Corr
0.74	APHMX	Artisan Mid Cap	Pair Corr
0.72	APHLX	Artisan Value	Pair Corr
0.69	APHGX	Artisan Global Value	Pair Corr
0.64	APHFX	Artisan High Income	Pair Corr
0.78	APHDX	Artisan Global Discovery	Pair Corr
0.77	ARTNX	Artisan Select Equity	Pair Corr
0.69	FNFPX	American Funds New	Pair Corr
0.69	FFPNX	American Funds New	Pair Corr
0.84	NPFCX	New Perspective	Pair Corr
0.84	ANWPX	New Perspective	Pair Corr
0.84	NPFFX	New Perspective	Pair Corr
0.84	CNPAX	New Perspective	Pair Corr
0.84	CNPEX	New Perspective	Pair Corr
0.84	CNPFX	New Perspective	Pair Corr
0.84	CNPCX	New Perspective	Pair Corr
0.84	RNPAX	New Perspective	Pair Corr
0.61	SMPSX	Semiconductor Ultrasector	Pair Corr
0.62	RSNYX	Victory Global Natural	Pair Corr
0.63	RGNCX	Victory Global Natural	Pair Corr
0.79	RMQAX	Monthly Rebalance Steady Growth	Pair Corr
0.68	RMQHX	Monthly Rebalance Steady Growth	Pair Corr
0.68	VFINX	Vanguard 500 Index	Pair Corr

Related Correlations Analysis

	APDNX	APHYX	APHTX	APHSX	APHNX	APHKX	APHJX	APHMX	APHGX
APDNX		0.8	0.88	0.87	1.0	-0.55	-0.13	0.9	0.46	APDNX
APHYX	0.8		0.91	0.85	0.8	-0.4	-0.2	0.86	0.52	APHYX
APHTX	0.88	0.91		0.84	0.88	-0.51	-0.23	0.9	0.43	APHTX
APHSX	0.87	0.85	0.84		0.87	-0.54	-0.08	0.97	0.46	APHSX
APHNX	1.0	0.8	0.88	0.87		-0.55	-0.13	0.9	0.46	APHNX
APHKX	-0.55	-0.4	-0.51	-0.54	-0.55		0.71	-0.66	0.4	APHKX
APHJX	-0.13	-0.2	-0.23	-0.08	-0.13	0.71		-0.23	0.62	APHJX
APHMX	0.9	0.86	0.9	0.97	0.9	-0.66	-0.23		0.36	APHMX
APHGX	0.46	0.52	0.43	0.46	0.46	0.4	0.62	0.36		APHGX
	APDNX	APHYX	APHTX	APHSX	APHNX	APHKX	APHJX	APHMX	APHGX

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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

APHNX	+ 1.0	APDNX
APHMX	+ 0.97	APHSX
APHTX	+ 0.91	APHYX
APHMX	+ 0.9	APDNX
APHMX	+ 0.9	APHTX
APHMX	+ 0.9	APHNX

High negative correlations

APHMX	- 0.66	APHKX
APHKX	- 0.55	APHNX
APHKX	- 0.55	APDNX
APHKX	- 0.54	APHSX
APHKX	- 0.51	APHTX
APHKX	- 0.4	APHYX

Risk-Adjusted Indicators

There is a big difference between ARTISAN Mutual Fund performing well and Artisan Global 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 Global'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
APDNX	0.54	0.08	(0.04)	(1.45)	0.46	(0.66)	1.24	(0.99)	3.41
APHYX	0.73	0.10	0.06	0.24	0.84	(0.80)	1.47	(1.64)	5.50
APHTX	0.79	0.14	0.04	2.47	1.01	(0.80)	1.72	(1.31)	5.01
APHSX	0.95	0.04	0.05	0.13	1.15	(0.93)	2.04	(1.99)	5.79
APHNX	0.54	0.08	(0.04)	(1.38)	0.44	(0.67)	1.24	(0.99)	3.43
APHKX	0.50	(0.13)	0.00	(0.24)	0.00	0.00	0.90	(1.07)	4.00
APHJX	0.67	(0.10)	0.00	(0.04)	0.00	0.00	1.26	(1.43)	3.61
APHMX	0.75	0.06	0.05	0.17	0.94	(0.75)	1.58	(1.53)	4.94
APHGX	0.47	(0.07)	(0.20)	(0.02)	0.56	(0.50)	0.88	(0.89)	2.64

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