Artisan High Correlations

APDFX Fund

USD 9.19 0.01 0.11%

The correlation of Artisan High 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 High Correlation With Market

Almost no diversification

The correlation between Artisan High Income and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Artisan High 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 High 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 census.

Moving together with Artisan Mutual Fund

0.86	APDWX	Artisan Value Income	Pair Corr
0.9	APDTX	Artisan Thematic	Pair Corr
0.91	APDSX	Artisan Small Cap	Pair Corr
0.97	APDUX	Artisan Floating Rate	Pair Corr
0.88	APDPX	Artisan Global Uncon	Pair Corr
0.86	APDOX	Artisan Emerging Markets	Pair Corr
0.8	APDRX	Artisan Global Oppor	Pair Corr
0.89	APDQX	Artisan Mid Cap	Pair Corr
0.92	APDKX	Artisan International	Pair Corr
0.89	APDJX	Artisan International	Pair Corr
0.84	APDMX	Artisan Mid Cap	Pair Corr
0.88	APDLX	Artisan Value	Pair Corr
0.92	APDGX	Artisan Global Value	Pair Corr
0.87	APDIX	Artisan International	Pair Corr
0.85	APDDX	Artisan Global Discovery	Pair Corr
0.86	APFWX	Artisan Value Income	Pair Corr
0.88	APFPX	Artisan Global Uncon	Pair Corr
0.86	APFOX	Artisan Emerging Markets	Pair Corr
0.85	APFDX	Artisan Global Discovery	Pair Corr
0.86	APHOX	Artisan Emerging Markets	Pair Corr
0.91	ARDBX	Artisan International	Pair Corr
0.91	ARHBX	Artisan International	Pair Corr
0.88	ARTQX	Artisan Mid Cap	Pair Corr
0.91	ARTSX	Artisan Small Cap	Pair Corr
0.8	ARTRX	Artisan Global Oppor	Pair Corr
0.84	ARTMX	Artisan Mid Cap	Pair Corr
0.87	ARTLX	Artisan Value	Pair Corr
0.87	ARTIX	Artisan International	Pair Corr
0.87	ARTHX	Artisan Global Equity	Pair Corr
0.92	ARTKX	Artisan International	Pair Corr
0.9	ARTJX	Artisan International	Pair Corr
0.92	ARTGX	Artisan Global Value	Pair Corr
1.0	ARTFX	Artisan High Income	Pair Corr
0.83	ARTZX	Artisan Emerging Markets	Pair Corr
0.9	ARTTX	Artisan Thematic	Pair Corr
0.95	AHTFX	American High Income	Pair Corr
0.95	AHTCX	American High Income	Pair Corr

Moving against Artisan Mutual Fund

0.56	APDYX	Artisan Developing World	Pair Corr
0.56	ARTYX	Artisan Developing World	Pair Corr

Related Correlations Analysis

	GQLIX	LIJIX	MIGHX	GVIRX	MDDVX	VSVNX	HHDVX	MAYHX	EATVX	MWATX
GQLIX		0.93	0.86	0.89	0.88	0.94	0.89	0.61	0.88	0.0	GQLIX
LIJIX	0.93		0.83	0.88	0.89	1.0	0.93	0.49	0.95	0.0	LIJIX
MIGHX	0.86	0.83		0.88	0.84	0.84	0.84	0.45	0.88	0.0	MIGHX
GVIRX	0.89	0.88	0.88		0.97	0.88	0.91	0.61	0.92	0.0	GVIRX
MDDVX	0.88	0.89	0.84	0.97		0.89	0.95	0.64	0.94	0.0	MDDVX
VSVNX	0.94	1.0	0.84	0.88	0.89		0.92	0.47	0.95	0.0	VSVNX
HHDVX	0.89	0.93	0.84	0.91	0.95	0.92		0.68	0.96	0.0	HHDVX
MAYHX	0.61	0.49	0.45	0.61	0.64	0.47	0.68		0.54	0.0	MAYHX
EATVX	0.88	0.95	0.88	0.92	0.94	0.95	0.96	0.54		0.0	EATVX
MWATX	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		MWATX
	GQLIX	LIJIX	MIGHX	GVIRX	MDDVX	VSVNX	HHDVX	MAYHX	EATVX	MWATX

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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

VSVNX	+ 1.0	LIJIX
MDDVX	+ 0.97	GVIRX
EATVX	+ 0.96	HHDVX
EATVX	+ 0.95	LIJIX
HHDVX	+ 0.95	MDDVX
EATVX	+ 0.95	VSVNX

High negative correlations

MWATX	- 0.0	EATVX
MWATX	- 0.0	MAYHX
MWATX	- 0.0	HHDVX
MWATX	- 0.0	VSVNX
MWATX	- 0.0	MDDVX
MWATX	- 0.0	GVIRX

Risk-Adjusted Indicators

There is a big difference between Artisan Mutual Fund performing well and Artisan High 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 High'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
GQLIX	0.62	(0.01)	(0.04)	0.06	0.70	(0.64)	1.38	(1.26)	3.09
LIJIX	0.35	0.00	(0.07)	0.09	0.38	(0.38)	0.77	(0.71)	1.96
MIGHX	0.80	0.05	0.04	0.15	0.80	(0.92)	1.28	(1.49)	15.13
GVIRX	0.55	0.05	0.05	0.15	0.50	(0.64)	1.25	(1.05)	7.32
MDDVX	0.61	0.19	0.25	0.36	0.27	(0.76)	1.43	(0.97)	7.87
VSVNX	0.53	0.01	(0.02)	0.09	0.62	(0.54)	1.01	(1.21)	2.85
HHDVX	0.54	0.11	0.11	0.25	0.45	(0.61)	1.36	(1.14)	3.49
MAYHX	0.08	0.04	0.00	(1.07)	0.00	0.00	0.33	0.00	0.67
EATVX	0.63	0.14	0.16	0.26	0.39	(0.72)	1.55	(1.10)	4.33
MWATX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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