Artisan Select Correlations

ARTNX Fund

USD 16.37 0.06 0.37%

The current 90-days correlation between Artisan Select Equity and Lord Abbett Convertible is 0.75 (i.e., Poor 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 0.76 (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

1.0	APDNX	Artisan Select Equity	Pair Corr
0.83	APHYX	Artisan Developing World	Pair Corr
1.0	APHNX	Artisan Select Equity	Pair Corr
0.85	APHKX	Artisan International	Pair Corr
0.85	APHJX	Artisan International	Pair Corr
0.92	APHLX	Artisan Value	Pair Corr
0.92	APHGX	Artisan Global Value	Pair Corr
0.87	APHFX	Artisan High Income	Pair Corr
0.78	APHIX	Artisan International	Pair Corr
0.79	APHHX	Artisan Global Equity	Pair Corr
0.89	APHEX	Artisan Emerging Markets	Pair Corr
0.88	VVIAX	Vanguard Value Index	Pair Corr
0.95	DOXGX	Dodge Cox Stock	Pair Corr
0.82	AFMFX	American Mutual	Pair Corr
0.82	FFMMX	American Funds American	Pair Corr
0.82	FFFMX	American Funds American	Pair Corr
0.82	AMRMX	American Mutual	Pair Corr
0.82	AMFFX	American Mutual	Pair Corr
0.81	AMFCX	American Mutual	Pair Corr
0.89	DODGX	Dodge Stock Fund	Pair Corr
0.88	VIVAX	Vanguard Value Index	Pair Corr
0.77	NHS	Neuberger Berman High	Pair Corr
0.81	NVG	Nuveen Amt Free	Pair Corr
0.72	HILIX	Hartford Interna	Pair Corr
0.83	DVRCX	Mfs Global Alternative	Pair Corr
0.79	PBAKX	Blackrock Tactical	Pair Corr
0.8	SWISX	Schwab International	Pair Corr
0.61	RBFCX	Bond Fund	Pair Corr
0.61	JADKX	John Hancock Variable	Pair Corr
0.87	MPHLX	Massmutual Premier High	Pair Corr
0.62	MWTRX	Metropolitan West Total	Pair Corr

Related Correlations Analysis

	LCFYX	VAADX	FSAWX	NCIDX	GCV	XAVKX	ARBOX
LCFYX		0.9	-0.28	0.94	0.65	0.94	-0.12	LCFYX
VAADX	0.9		-0.65	0.98	0.43	0.95	-0.52	VAADX
FSAWX	-0.28	-0.65		-0.54	0.2	-0.5	0.98	FSAWX
NCIDX	0.94	0.98	-0.54		0.53	0.96	-0.39	NCIDX
GCV	0.65	0.43	0.2	0.53		0.51	0.31	GCV
XAVKX	0.94	0.95	-0.5	0.96	0.51		-0.35	XAVKX
ARBOX	-0.12	-0.52	0.98	-0.39	0.31	-0.35		ARBOX
	LCFYX	VAADX	FSAWX	NCIDX	GCV	XAVKX	ARBOX

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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

NCIDX	+ 0.98	VAADX
ARBOX	+ 0.98	FSAWX
XAVKX	+ 0.96	NCIDX
XAVKX	+ 0.95	VAADX
NCIDX	+ 0.94	LCFYX
XAVKX	+ 0.94	LCFYX

High negative correlations

FSAWX	- 0.65	VAADX
NCIDX	- 0.54	FSAWX
ARBOX	- 0.52	VAADX
XAVKX	- 0.5	FSAWX
ARBOX	- 0.39	NCIDX
ARBOX	- 0.35	XAVKX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
LCFYX	0.65	(0.01)	0.00	(0.10)	0.00	1.12	(1.42)	3.20
VAADX	0.67	(0.07)	0.00	(0.19)	0.00	1.13	(1.60)	3.27
FSAWX	0.08	0.04	1.09	(1.82)	(0.14)	0.19	(0.10)	0.38
NCIDX	0.59	(0.04)	0.00	(0.14)	0.00	1.03	(1.38)	3.23
GCV	0.92	0.01	0.00	(0.05)	0.00	2.17	(2.14)	6.16
XAVKX	0.53	(0.04)	0.00	(0.17)	0.00	0.90	(1.14)	2.56
ARBOX	0.05	0.02	0.00	0.89	0.00	0.09	0.00	0.18

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