Artisan Value Correlations

APHWX Fund

USD 10.62 0.07 0.66%

The current 90-days correlation between Artisan Value Income and Thrivent Natural Resources is 0.04 (i.e., Significant diversification). The correlation of Artisan Value 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 Value Correlation With Market

Significant diversification

The correlation between Artisan Value Income and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Artisan Value 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 Value 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 housing.

Moving together with Artisan Mutual Fund

0.89	APDWX	Artisan Value Income	Pair Corr
0.7	APDYX	Artisan Developing World	Pair Corr
0.79	APDOX	Artisan Emerging Markets	Pair Corr
0.73	APDKX	Artisan International	Pair Corr
0.68	APDJX	Artisan International	Pair Corr
0.83	APDLX	Artisan Value	Pair Corr
0.85	APDGX	Artisan Global Value	Pair Corr
0.72	APDFX	Artisan High Income	Pair Corr
0.68	APDIX	Artisan International	Pair Corr
0.69	APDHX	Artisan Global Equity	Pair Corr
0.71	APDEX	Artisan Sustainable	Pair Corr
0.89	APFWX	Artisan Value Income	Pair Corr
0.61	APFPX	Artisan Global Uncon	Pair Corr
0.79	APFOX	Artisan Emerging Markets	Pair Corr
0.9	ARTLX	Artisan Value	Pair Corr
0.68	ARTIX	Artisan International	Pair Corr
0.78	ARTHX	Artisan Global Equity	Pair Corr
0.82	ARTKX	Artisan International	Pair Corr
0.67	ARTJX	Artisan International	Pair Corr
0.85	ARTGX	Artisan Global Value	Pair Corr
0.69	ARTYX	Artisan Developing World	Pair Corr
0.76	ARTZX	Artisan Emerging Markets	Pair Corr
0.73	VVIAX	Vanguard Value Index	Pair Corr
0.79	DOXGX	Dodge Cox Stock	Pair Corr
0.79	AFMFX	American Mutual	Pair Corr

Related Correlations Analysis

	TREIX	SMAPX	IEFCX	HNRGX	PEO	IGNAX	GLEAX	XGNTX
TREIX		-0.09	0.24	0.14	0.09	-0.25	0.06	0.78	TREIX
SMAPX	-0.09		0.55	0.52	0.88	0.82	0.73	0.1	SMAPX
IEFCX	0.24	0.55		0.82	0.6	0.62	0.89	0.61	IEFCX
HNRGX	0.14	0.52	0.82		0.58	0.64	0.76	0.37	HNRGX
PEO	0.09	0.88	0.6	0.58		0.75	0.59	0.22	PEO
IGNAX	-0.25	0.82	0.62	0.64	0.75		0.73	0.08	IGNAX
GLEAX	0.06	0.73	0.89	0.76	0.59	0.73		0.43	GLEAX
XGNTX	0.78	0.1	0.61	0.37	0.22	0.08	0.43		XGNTX
	TREIX	SMAPX	IEFCX	HNRGX	PEO	IGNAX	GLEAX	XGNTX

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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

GLEAX	+ 0.89	IEFCX
PEO	+ 0.88	SMAPX
IGNAX	+ 0.82	SMAPX
HNRGX	+ 0.82	IEFCX
XGNTX	+ 0.78	TREIX
GLEAX	+ 0.76	HNRGX

High negative correlations

IGNAX	- 0.25	TREIX
SMAPX	- 0.09	TREIX

Risk-Adjusted Indicators

There is a big difference between Artisan Mutual Fund performing well and Artisan Value 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 Value'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
TREIX	0.08	0.02	0.27	(2.97)	0.00	(0.13)	0.20	(0.10)	0.60
SMAPX	1.12	0.14	0.10	0.19	1.50	(1.21)	2.13	(2.32)	7.93
IEFCX	0.82	0.15	0.13	0.28	1.10	(0.82)	1.54	(1.94)	5.65
HNRGX	0.85	0.12	0.12	(0.46)	1.19	(0.84)	1.80	(1.95)	5.81
PEO	0.86	0.13	0.11	0.25	1.07	(0.79)	1.79	(1.87)	5.71
IGNAX	0.96	0.02	0.02	0.00	1.32	(1.00)	1.67	(2.05)	5.39
GLEAX	1.00	0.10	0.08	0.15	1.30	(1.07)	1.72	(1.86)	6.59
XGNTX	0.48	0.17	0.35	0.53	0.14	(0.59)	1.26	(0.78)	2.41

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