Artisan International Correlations

APHJX Fund

USD 18.27 0.06 0.33%

The current 90-days correlation between Artisan International and Oppenheimer Intl Small is 0.86 (i.e., Very poor diversification). The correlation of Artisan International 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 International Correlation With Market

Poor diversification

The correlation between Artisan International Small and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Artisan International Small 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 International Small. 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 inflation.

Moving together with Artisan Mutual Fund

0.72	APHIX	Artisan International	Pair Corr
0.82	OSMYX	Oppenheimer Intl Small	Pair Corr
0.82	OSCIX	Oppenheimer Intl Small	Pair Corr
0.82	OSMNX	Oppenheimer Intl Small	Pair Corr
0.76	TIDDX	T Rowe Price	Pair Corr
0.75	MIDGX	Mfs International New	Pair Corr
0.76	MIDHX	Mfs International New	Pair Corr
0.76	MIDRX	Mfs International New	Pair Corr
0.82	BTMPX	Ishares Msci Eafe	Pair Corr
0.77	BTMKX	Blackrock International	Pair Corr
0.82	MDIIX	Blackrock Intern Index	Pair Corr

Moving against Artisan Mutual Fund

0.48	GOVXX	Money Market Obligations	Pair Corr
0.45	COGVX	Cognios Large Cap	Pair Corr
0.38	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.38	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.37	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.37	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr

Related Correlations Analysis

	OSMYX	OSCIX	OSMNX	AQUI	MSTSX	LBHIX	ABHYX	SCAXF	VIASP	RRTLX
OSMYX		1.0	1.0	0.0	-0.05	-0.24	0.31	0.63	-0.74	-0.06	OSMYX
OSCIX	1.0		1.0	0.0	-0.04	-0.24	0.31	0.63	-0.74	-0.06	OSCIX
OSMNX	1.0	1.0		0.0	-0.05	-0.25	0.31	0.63	-0.74	-0.06	OSMNX
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AQUI
MSTSX	-0.05	-0.04	-0.05	0.0		0.67	0.34	-0.22	0.08	0.78	MSTSX
LBHIX	-0.24	-0.24	-0.25	0.0	0.67		0.59	-0.54	0.48	0.83	LBHIX
ABHYX	0.31	0.31	0.31	0.0	0.34	0.59		-0.35	0.11	0.54	ABHYX
SCAXF	0.63	0.63	0.63	0.0	-0.22	-0.54	-0.35		-0.87	-0.44	SCAXF
VIASP	-0.74	-0.74	-0.74	0.0	0.08	0.48	0.11	-0.87		0.34	VIASP
RRTLX	-0.06	-0.06	-0.06	0.0	0.78	0.83	0.54	-0.44	0.34		RRTLX
	OSMYX	OSCIX	OSMNX	AQUI	MSTSX	LBHIX	ABHYX	SCAXF	VIASP	RRTLX

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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

OSCIX	+ 1.0	OSMYX
OSMNX	+ 1.0	OSMYX
OSMNX	+ 1.0	OSCIX
RRTLX	+ 0.83	LBHIX
RRTLX	+ 0.78	MSTSX
LBHIX	+ 0.67	MSTSX

High negative correlations

VIASP	- 0.87	SCAXF
VIASP	- 0.74	OSMNX
VIASP	- 0.74	OSCIX
VIASP	- 0.74	OSMYX
SCAXF	- 0.54	LBHIX
RRTLX	- 0.44	SCAXF

Risk-Adjusted Indicators

There is a big difference between Artisan Mutual Fund performing well and Artisan International 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 International'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
OSMYX	0.58	(0.12)	0.00	(0.17)	0.00	0.00	0.99	(1.19)	3.86
OSCIX	0.58	(0.12)	0.00	(0.16)	0.00	0.00	0.98	(1.18)	3.86
OSMNX	0.58	(0.12)	0.00	(0.17)	0.00	0.00	0.98	(1.18)	3.85
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MSTSX	0.45	(0.01)	(0.11)	0.10	0.39	(0.59)	1.21	(0.84)	2.80
LBHIX	0.10	0.01	(0.41)	0.24	0.00	(0.25)	0.24	(0.24)	0.71
ABHYX	0.17	0.00	(0.23)	0.11	0.26	(0.23)	0.34	(0.33)	1.91
SCAXF	0.70	(0.43)	0.00	(0.64)	0.00	0.00	0.00	0.00	23.47
VIASP	0.75	0.10	(0.02)	(1.58)	1.11	(0.81)	2.28	(1.20)	7.18
RRTLX	0.22	0.03	(0.25)	0.71	0.12	(0.26)	0.48	(0.47)	1.36

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