Artisan Select Correlations

ARTNX Fund

USD 18.85 0.14 0.75%

The current 90-days correlation between Artisan Select Equity and Summit Global Investments is 0.66 (i.e., Poor diversification). The correlation of Artisan Select 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 Select Correlation With Market

Very poor diversification

The correlation between Artisan Select Equity and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Artisan Select 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 Select 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 state.

Moving together with Artisan Mutual Fund

1.0	APDNX	Artisan Select Equity	Pair Corr
0.89	APHSX	Artisan Small Cap	Pair Corr
0.96	APHNX	Artisan Select Equity	Pair Corr
0.84	APHQX	Artisan Mid Cap	Pair Corr
0.88	APHKX	Artisan International	Pair Corr
0.92	APHJX	Artisan International	Pair Corr
0.89	APHMX	Artisan Mid Cap	Pair Corr
0.88	APHLX	Artisan Value	Pair Corr
0.99	APHGX	Artisan Global Value	Pair Corr
0.76	APHFX	Artisan High Income	Pair Corr
0.84	APHIX	Artisan International	Pair Corr
0.84	APHHX	Artisan Global Equity	Pair Corr
0.89	APHDX	Artisan Global Discovery	Pair Corr
0.92	VVIAX	Vanguard Value Index	Pair Corr
0.75	AWSHX	Washington Mutual	Pair Corr
0.73	WSHCX	Washington Mutual	Pair Corr
0.78	WSHFX	Washington Mutual	Pair Corr
0.78	FWWMX	American Funds Washington	Pair Corr
0.78	FWMMX	American Funds Washington	Pair Corr
0.68	VSTSX	Vanguard Total Stock	Pair Corr
0.7	VSMPX	Vanguard Total Stock	Pair Corr
0.7	VITSX	Vanguard Total Stock	Pair Corr
0.68	VFFSX	Vanguard 500 Index	Pair Corr
0.7	VFIAX	Vanguard 500 Index	Pair Corr
0.68	VTSAX	Vanguard Total Stock	Pair Corr
0.74	VTSNX	Vanguard Total Inter	Pair Corr
0.68	VTISX	Vanguard Total Inter	Pair Corr
0.74	VTPSX	Vanguard Total Inter	Pair Corr
0.7	VINIX	Vanguard Institutional	Pair Corr
0.69	VFINX	Vanguard 500 Index	Pair Corr

Moving against Artisan Mutual Fund

0.68	APHYX	Artisan Developing World	Pair Corr
0.47	PQEMX	Prudential Qma Emerging	Pair Corr

Related Correlations Analysis

	SGICX	TINCX	DBIWX	ZGFIX	TEDIX	GAFAX	DHGCX
SGICX		0.69	0.65	0.72	0.6	0.67	0.3	SGICX
TINCX	0.69		0.74	0.66	0.77	0.78	0.19	TINCX
DBIWX	0.65	0.74		0.71	0.88	0.6	0.62	DBIWX
ZGFIX	0.72	0.66	0.71		0.83	0.72	0.24	ZGFIX
TEDIX	0.6	0.77	0.88	0.83		0.74	0.38	TEDIX
GAFAX	0.67	0.78	0.6	0.72	0.74		0.11	GAFAX
DHGCX	0.3	0.19	0.62	0.24	0.38	0.11		DHGCX
	SGICX	TINCX	DBIWX	ZGFIX	TEDIX	GAFAX	DHGCX

Risk-Adjusted Indicators

There is a big difference between Artisan Mutual Fund performing well and Artisan Select 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 Select'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
SGICX	0.44	(0.01)	(0.05)	0.05	0.56	(0.46)	0.87	(1.04)	2.88
TINCX	0.39	0.04	(0.02)	0.43	0.41	(0.49)	0.72	(0.72)	2.15
DBIWX	0.29	0.02	(0.08)	0.21	0.26	(0.34)	0.71	(0.62)	1.61
ZGFIX	0.49	(0.01)	(0.04)	0.05	0.60	(0.49)	1.04	(0.99)	2.32
TEDIX	0.56	0.06	0.02	0.35	0.59	(0.57)	1.47	(1.10)	4.23
GAFAX	0.29	(0.01)	(0.14)	0.00	0.38	(0.30)	0.73	(0.54)	1.72
DHGCX	0.10	(0.01)	(0.49)	(0.15)	0.11	(0.11)	0.20	(0.20)	0.56

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