Artisan Global Correlations

APDDX Fund

USD 23.53 0.14 0.60%

The current 90-days correlation between Artisan Global Discovery and Schwab Health Care is 0.5 (i.e., Very weak 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 Discovery and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Artisan Global Discovery 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 Discovery. 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 national income and product accounts.

Moving together with Artisan Mutual Fund

0.82	FSWFX	American Funds Smallcap	Pair Corr
0.82	FSFWX	American Funds Smallcap	Pair Corr
0.82	SCWCX	American Fds Smallcap	Pair Corr
0.82	SCWFX	Smallcap World	Pair Corr
0.69	SMCWX	Smallcap World	Pair Corr
0.81	CSPFX	Smallcap World	Pair Corr
0.69	CSPAX	Smallcap World	Pair Corr
0.82	RSLCX	Smallcap World	Pair Corr
0.82	RLLGX	Smallcap World	Pair Corr

Moving against Artisan Mutual Fund

0.33

IBM

International Business

Pair Corr

Related Correlations Analysis

	SWHFX	XHQHX	PGHAX	HCPIX	BHCHX	VGHCX
SWHFX		0.6	0.94	0.8	0.76	0.85	SWHFX
XHQHX	0.6		0.6	0.48	0.7	0.58	XHQHX
PGHAX	0.94	0.6		0.75	0.85	0.86	PGHAX
HCPIX	0.8	0.48	0.75		0.74	0.92	HCPIX
BHCHX	0.76	0.7	0.85	0.74		0.91	BHCHX
VGHCX	0.85	0.58	0.86	0.92	0.91		VGHCX
	SWHFX	XHQHX	PGHAX	HCPIX	BHCHX	VGHCX

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
SWHFX	0.69	(0.02)	(0.04)	0.09	0.90	(0.70)	1.41	(1.47)	4.54
XHQHX	0.89	0.09	(0.01)	1.24	0.96	(0.97)	2.02	(1.82)	4.54
PGHAX	0.68	0.00	(0.04)	0.11	0.77	(0.73)	1.37	(1.59)	4.16
HCPIX	1.07	0.06	(0.03)	4.70	1.30	(1.14)	2.38	(2.29)	7.26
BHCHX	0.62	0.00	(0.02)	0.00	0.69	(0.63)	1.54	(1.42)	3.71
VGHCX	0.72	0.07	(0.04)	3.24	0.85	(0.72)	1.41	(1.47)	4.48

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