Artisan Select Correlations

Mutual Funds . USA . 
Fund . Artisan Select Equity
APDNX Fund  USD 16.60  0.20  1.22%   
The current 90-days correlation between Artisan Select Equity and Ab Global Bond is -0.08 (i.e., Good 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

Poor diversification

The correlation between Artisan Select Equity and DJI is 0.78 (i.e., 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 board of governors.

Moving together with Artisan Mutual Fund

  0.84APHYX Artisan Developing WorldPairCorr
  0.95APHNX Artisan Select EquityPairCorr
  0.85APHKX Artisan InternationalPairCorr
  0.85APHJX Artisan InternationalPairCorr
  0.92APHLX Artisan ValuePairCorr
  0.92APHGX Artisan Global ValuePairCorr
  0.87APHFX Artisan High IncomePairCorr
  0.78APHIX Artisan InternationalPairCorr
  0.8APHHX Artisan Global EquityPairCorr
  0.89APHEX Artisan Emerging MarketsPairCorr
  0.95ARTNX Artisan Select EquityPairCorr
  0.88VVIAX Vanguard Value IndexPairCorr
  0.9DOXGX Dodge Cox StockPairCorr
  0.84AFMFX American MutualPairCorr
  0.84FFMMX American Funds AmericanPairCorr
  0.84FFFMX American Funds AmericanPairCorr
  0.84AMRMX American MutualPairCorr
  0.73AMFFX American MutualPairCorr
  0.84AMFCX American MutualPairCorr
  0.9DODGX Dodge Stock FundPairCorr
  0.88VIVAX Vanguard Value IndexPairCorr
  0.78NHS Neuberger Berman HighPairCorr
  0.81NVG Nuveen Amt FreePairCorr
  0.73HILIX Hartford InternaPairCorr
  0.84DVRCX Mfs Global AlternativePairCorr
  0.81PBAKX Blackrock TacticalPairCorr
  0.81SWISX Schwab InternationalPairCorr
  0.62RBFCX Bond FundPairCorr
  0.87MPHLX Massmutual Premier HighPairCorr
  0.63MWTRX Metropolitan West TotalPairCorr

Related Correlations Analysis

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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.

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