Global Resources Correlations

PSPFX Fund

USD 3.65 0.02 0.55%

The current 90-days correlation between Global Resources and Artisan High Income is -0.05 (i.e., Good diversification). The correlation of Global Resources 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.

Global Resources Correlation With Market

Modest diversification

The correlation between Global Resources Fund and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global Resources Fund and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Global Resources Fund. 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 Global Mutual Fund

0.85	TRNEX	T Rowe Price	Pair Corr
0.79	VMIAX	Vanguard Materials Index	Pair Corr
0.92	PRNEX	T Rowe Price	Pair Corr
0.94	GEACX	Gmo Trust	Pair Corr
0.94	GAAHX	Gmo Resources	Pair Corr
0.87	GMOWX	Gmo Resources	Pair Corr
0.86	GHAIX	Global Hard Assets	Pair Corr
0.73	FMFEX	Materials Portfolio	Pair Corr
0.73	FMFAX	Materials Portfolio	Pair Corr
0.73	FMFCX	Materials Portfolio	Pair Corr

Moving against Global Mutual Fund

0.49	UGSDX	Us Government Securities	Pair Corr
0.45	PAIDX	Pimco Short Asset	Pair Corr
0.38	RSDIX	Rbc Short Duration	Pair Corr
0.37	DNYMX	Dfa Ny Municipal	Pair Corr
0.35	LALDX	Lord Abbett Short	Pair Corr
0.31	RYCQX	Inverse Russell 2000 Trending	Pair Corr
0.45	LEOOX	Lazard Enhanced Oppo	Pair Corr
0.39	RAAGX	Short Term Bond	Pair Corr
0.34	URSBX	Short Term Bond	Pair Corr

Related Correlations Analysis

	ARTFX	PHDTX	MWHIX	PBHAX	HIMYX	BXHCX
ARTFX		0.9	0.85	0.92	0.63	0.96	ARTFX
PHDTX	0.9		0.91	0.95	0.71	0.93	PHDTX
MWHIX	0.85	0.91		0.95	0.85	0.93	MWHIX
PBHAX	0.92	0.95	0.95		0.71	0.93	PBHAX
HIMYX	0.63	0.71	0.85	0.71		0.75	HIMYX
BXHCX	0.96	0.93	0.93	0.93	0.75		BXHCX
	ARTFX	PHDTX	MWHIX	PBHAX	HIMYX	BXHCX

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Risk-Adjusted Indicators

There is a big difference between Global Mutual Fund performing well and Global Resources 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 Global Resources' 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
ARTFX	0.11	0.02	0.12	(1.30)	0.00	(0.20)	0.44	(0.22)	1.22
PHDTX	0.11	0.03	0.15	0.54	0.00	(0.15)	0.23	(0.23)	0.79
MWHIX	0.12	0.01	0.10	0.41	0.00	(0.21)	0.54	(0.22)	0.98
PBHAX	0.15	0.03	0.12	1.06	0.00	(0.32)	0.63	(0.21)	1.06
HIMYX	0.18	0.02	0.07	0.59	0.13	(0.26)	0.49	(0.33)	1.31
BXHCX	0.12	0.02	0.11	(0.83)	0.00	(0.20)	0.49	(0.25)	1.12

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