Artisan High Correlations

APHFX Fund

USD 9.10 0.01 0.11%

The current 90-days correlation between Artisan High Income and Eic Value Fund is 0.42 (i.e., Very weak diversification). The correlation of Artisan High 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 High Correlation With Market

Very weak diversification

The correlation between Artisan High Income and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Artisan High Income 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 High Income. 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 census.

Moving together with Artisan Mutual Fund

0.87	APDNX	Artisan Select Equity	Pair Corr
0.65	APHYX	Artisan Developing World	Pair Corr
0.87	APHNX	Artisan Select Equity	Pair Corr
0.83	APHKX	Artisan International	Pair Corr
0.79	APHLX	Artisan Value	Pair Corr
0.9	APHGX	Artisan Global Value	Pair Corr
0.81	APHIX	Artisan International	Pair Corr
0.79	APHHX	Artisan Global Equity	Pair Corr
0.76	APHEX	Artisan Emerging Markets	Pair Corr
0.87	ARTNX	Artisan Select Equity	Pair Corr
0.96	VWEAX	Vanguard High Yield	Pair Corr
0.97	VWEHX	Vanguard High Yield	Pair Corr
0.95	BHYCX	Blackrock Hi Yld	Pair Corr
0.97	BHYIX	Blackrock High Yield	Pair Corr
0.97	BHYSX	Blackrock Hi Yld	Pair Corr
0.97	BHYAX	Blackrock High Yield	Pair Corr
0.99	FAHHX	American Funds American	Pair Corr
0.99	FTAHX	American Funds American	Pair Corr
0.99	AHTFX	American High Income	Pair Corr
0.98	AHTCX	American High Income	Pair Corr
0.75	GPBFX	Gmo E Plus	Pair Corr
0.81	WARCX	Wells Fargo Advantage	Pair Corr
0.75	MGBMX	Mfs Global Bond	Pair Corr
0.85	EKIZX	Wells Fargo Adjustable	Pair Corr
0.73	RCBDX	American Funds Porate	Pair Corr

Moving against Artisan Mutual Fund

0.81	PQTAX	Pimco Trends Managed	Pair Corr
0.81	PQTNX	Pimco Trends Managed	Pair Corr
0.81	PQTIX	Aa Pimco Tr	Pair Corr
0.44	GPMFX	Guidepath Managed Futures	Pair Corr

Related Correlations Analysis

	EICVX	FLAKQX	FZNOPX	XHYIX	WRLDX	WABMSX	FMUUX
EICVX		0.41	0.18	-0.02	0.91	0.55	0.86	EICVX
FLAKQX	0.41		0.55	0.51	0.65	0.9	0.22	FLAKQX
FZNOPX	0.18	0.55		0.57	0.27	0.72	-0.16	FZNOPX
XHYIX	-0.02	0.51	0.57		0.26	0.57	-0.22	XHYIX
WRLDX	0.91	0.65	0.27	0.26		0.73	0.73	WRLDX
WABMSX	0.55	0.9	0.72	0.57	0.73		0.25	WABMSX
FMUUX	0.86	0.22	-0.16	-0.22	0.73	0.25		FMUUX
	EICVX	FLAKQX	FZNOPX	XHYIX	WRLDX	WABMSX	FMUUX

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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

WRLDX	+ 0.91	EICVX
WABMSX	+ 0.9	FLAKQX
FMUUX	+ 0.86	EICVX
WABMSX	+ 0.73	WRLDX
FMUUX	+ 0.73	WRLDX
WABMSX	+ 0.72	FZNOPX

High negative correlations

FMUUX	- 0.22	XHYIX
FMUUX	- 0.16	FZNOPX
XHYIX	- 0.02	EICVX

Risk-Adjusted Indicators

There is a big difference between Artisan Mutual Fund performing well and Artisan High 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 High'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
EICVX	0.59	0.09	0.15	0.10	0.72	(0.61)	1.21	(1.42)	2.93
FLAKQX	0.83	0.04	0.05	(0.01)	1.12	(0.93)	1.75	(2.40)	4.80
FZNOPX	0.75	0.02	0.00	(0.03)	0.00	0.00	1.55	(1.63)	3.75
XHYIX	0.16	(0.02)	0.00	(0.28)	0.00	0.00	0.25	(0.49)	1.31
WRLDX	0.64	0.04	0.00	(0.01)	0.00	0.00	1.24	(1.68)	2.96
WABMSX	0.62	0.05	0.09	0.02	0.81	(0.62)	1.38	(1.29)	3.66
FMUUX	0.03	0.00	0.00	(0.26)	0.00	0.00	0.10	0.00	0.40

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