Artisan Global Correlations

Mutual Funds . USA . 
Fund . Artisan Global Value
APHGX Fund  USD 24.40  0.16  0.65%   
The current 90-days correlation between Artisan Global Value and Artisan Global Value is 0.02 (i.e., Significant 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 Value 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 Value 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 Value. 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 price.

Moving together with ARTISAN Mutual Fund

  0.88APDNX Artisan Select EquityPairCorr
  0.65APHYX Artisan Developing WorldPairCorr
  0.88APHNX Artisan Select EquityPairCorr
  0.98APHKX Artisan InternationalPairCorr
  0.67APHJX Artisan InternationalPairCorr
  0.77APHLX Artisan ValuePairCorr
  0.89APHFX Artisan High IncomePairCorr
  0.96APHIX Artisan InternationalPairCorr
  0.95APHHX Artisan Global EquityPairCorr
  0.91APHEX Artisan Emerging MarketsPairCorr
  0.88ARTNX Artisan Select EquityPairCorr
  0.67TEDRX Franklin Mutual GlobalPairCorr
  0.7FMDRX Franklin Mutual GlobalPairCorr
  0.85TRZRX T Rowe PricePairCorr
  0.68TEDIX Franklin Mutual GlobalPairCorr
  0.7MDISX Franklin Mutual GlobalPairCorr
  0.79PRAFX T Rowe PricePairCorr
  0.81BEGRX Franklin Mutual BeaconPairCorr
  0.72ERH Allspring Utilities AndPairCorr
  0.65CSJZX Cohen Steers RealtyPairCorr
  0.64CSRSX Cohen Steers RealtyPairCorr
  0.72JULMX Multimanager LifestylePairCorr
  0.9IFACX Income FundPairCorr
  0.83BACPX Blackrock ConservativePairCorr

Moving against ARTISAN Mutual Fund

  0.39APHSX Artisan Small CapPairCorr
  0.52ABQYX Ab Intermediate BondPairCorr
  0.42WRHIX Ivy High IncomePairCorr
  0.34WHIAX Ivy High IncomePairCorr
  0.32WHIYX Ivy High IncomePairCorr

Related Correlations Analysis

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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   
APHKX
+ 0.96
APDGX
IPFPX
+ 0.89
APDGX
IPFPX
+ 0.88
APHKX
SCMGX
+ 0.76
APHRX
IPFPX
+ 0.21
APHRX
SCMGX
+ 0.07
IPFPX
  
High negative correlations   
SCMGX
- 0.1
APHKX
APHRX
- 0.06
APHKX
SCMGX
- 0.06
APDGX
APHRX
- 0.0
APDGX

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.

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