Artisan Global Correlations

APDDX Fund

USD 21.24 0.01 0.05%

The current 90-days correlation between Artisan Global Discovery and Wabmsx is 0.72 (i.e., Poor 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 0.65 (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 unemployment.

Moving together with Artisan Mutual Fund

0.96	APDTX	Artisan Thematic	Pair Corr
0.77	APDSX	Artisan Small Cap	Pair Corr
0.97	APDRX	Artisan Global Oppor	Pair Corr
0.84	APDQX	Artisan Mid Cap	Pair Corr
0.61	APDJX	Artisan International	Pair Corr
0.93	APDMX	Artisan Mid Cap	Pair Corr
1.0	APFDX	Artisan Global Discovery	Pair Corr
0.84	ARTQX	Artisan Mid Cap	Pair Corr
0.76	ARTSX	Artisan Small Cap	Pair Corr
0.97	ARTRX	Artisan Global Oppor	Pair Corr
0.93	ARTMX	Artisan Mid Cap	Pair Corr
0.61	ARTJX	Artisan International	Pair Corr

Related Correlations Analysis

	WABMSX	EICVX	FZNQEX	VIPIX	FLAKQX	TBLDX	FUHKBX
WABMSX		0.43	0.05	0.18	0.81	0.81	0.49	WABMSX
EICVX	0.43		0.74	0.9	0.33	0.67	-0.13	EICVX
FZNQEX	0.05	0.74		0.9	0.13	0.39	-0.48	FZNQEX
VIPIX	0.18	0.9	0.9		0.21	0.52	-0.43	VIPIX
FLAKQX	0.81	0.33	0.13	0.21		0.83	0.24	FLAKQX
TBLDX	0.81	0.67	0.39	0.52	0.83		0.19	TBLDX
FUHKBX	0.49	-0.13	-0.48	-0.43	0.24	0.19		FUHKBX
	WABMSX	EICVX	FZNQEX	VIPIX	FLAKQX	TBLDX	FUHKBX

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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

VIPIX	+ 0.9	EICVX
VIPIX	+ 0.9	FZNQEX
TBLDX	+ 0.83	FLAKQX
FLAKQX	+ 0.81	WABMSX
TBLDX	+ 0.81	WABMSX
FZNQEX	+ 0.74	EICVX

High negative correlations

FUHKBX	- 0.48	FZNQEX
FUHKBX	- 0.43	VIPIX
FUHKBX	- 0.13	EICVX

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
WABMSX	0.61	0.03	0.03	0.04	0.78	(0.63)	1.38	(1.29)	3.66
EICVX	0.59	0.07	0.09	0.13	0.70	(0.61)	1.21	(1.42)	2.93
FZNQEX	0.08	(0.01)	(0.09)	2.03	0.10	(0.08)	0.16	(0.17)	0.49
VIPIX	0.22	0.03	0.08	0.82	0.17	(0.27)	0.53	(0.44)	1.30
FLAKQX	0.84	0.01	0.01	0.10	1.11	(0.93)	1.75	(2.40)	4.80
TBLDX	0.38	(0.01)	0.00	0.08	0.00	0.00	0.70	(0.80)	2.12
FUHKBX	0.69	(0.01)	(0.01)	(0.01)	0.93	(0.71)	1.13	(1.61)	4.79

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