Artisan Small Correlations

Mutual Funds . USA . 
Fund . Artisan Small Cap
APHSX Fund  USD 40.98  0.19  0.47%   
The current 90-days correlation between Artisan Small Cap and The Hartford Midcap is 0.91 (i.e., Almost no diversification). The correlation of Artisan Small 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 Small Correlation With Market

Poor diversification

The correlation between Artisan Small Cap and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Artisan Small Cap 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 Small Cap. 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

  0.93APDNX Artisan Select EquityPairCorr
  0.84APHYX Artisan Developing WorldPairCorr
  0.88APHTX Artisan FocusPairCorr
  0.92APHNX Artisan Select EquityPairCorr
  0.86APHRX Artisan Global OpporPairCorr
  0.89APHQX Artisan Mid CapPairCorr
  0.96APHMX Artisan Mid CapPairCorr
  0.91APHLX Artisan ValuePairCorr
  0.81APHFX Artisan High IncomePairCorr
  0.79APHHX Artisan Global EquityPairCorr
  0.98APHDX Artisan Global DiscoveryPairCorr
  0.92ARTNX Artisan Select EquityPairCorr
  0.95VSGAX Vanguard Small CapPairCorr
  0.95VSGIX Vanguard Small CapPairCorr
  0.95VISGX Vanguard Small CapPairCorr
  0.96VEXPX Vanguard ExplorerPairCorr
  0.97VEXRX Vanguard ExplorerPairCorr
  0.97JGMIX Janus TritonPairCorr
  0.97JGMRX Janus TritonPairCorr
  0.97JGMAX Janus TritonPairCorr
  0.97JGMCX Janus TritonPairCorr
  0.97JGMNX Janus TritonPairCorr
  0.69SMPSX Semiconductor UltrasectorPairCorr
  0.7SMPIX Semiconductor UltrasectorPairCorr
  0.87LSHUX Horizon Spin Off Steady GrowthPairCorr
  0.84RSNYX Victory Global NaturalPairCorr
  0.88LSHCX Horizon Spin Off Steady GrowthPairCorr
  0.84RSNRX Victory Global NaturalPairCorr
  0.87LSHAX Horizon Spin Off Steady GrowthPairCorr
  0.87LSHEX Kinetics Spin Off Steady GrowthPairCorr
  0.84RGNCX Victory Global NaturalPairCorr
  0.91RMQAX Monthly RebalancePairCorr
  0.78VBFIX Victory StrategicPairCorr
  0.88CII Blackrock EnhancedPairCorr

Moving against Artisan Mutual Fund

  0.49APHKX Artisan InternationalPairCorr

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   
WFMIX
+ 0.94
HFMIX
WMFFX
+ 0.92
HFMIX
WMFFX
+ 0.9
WFMIX
BEXIX
+ 0.47
MEDIX
BEXIX
+ 0.42
WMFFX
BEXIX
+ 0.13
WFMIX
  
High negative correlations   
MEDIX
- 0.08
HFMIX

Risk-Adjusted Indicators

There is a big difference between Artisan Mutual Fund performing well and Artisan Small 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 Small'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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