Artisan Global Correlations

APDPX Fund

USD 10.22 0.02 0.20%

The current 90-days correlation between Artisan Global Uncon and John Hancock Government is -0.26 (i.e., Very good diversification). The correlation of Artisan Global 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 Global Correlation With Market

Good diversification

The correlation between Artisan Global Unconstrained and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Artisan Global Unconstrained 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 Global Unconstrained. 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 american community survey.

Moving together with Artisan Mutual Fund

0.77	APDWX	Artisan Value Income	Pair Corr
0.88	APDYX	Artisan Developing World	Pair Corr
0.84	APDTX	Artisan Thematic	Pair Corr
0.78	APDSX	Artisan Small Cap	Pair Corr
0.93	APDUX	Artisan Floating Rate	Pair Corr
0.87	APDOX	Artisan Emerging Markets	Pair Corr
0.7	APDRX	Artisan Global Oppor	Pair Corr
0.87	APDMX	Artisan Mid Cap	Pair Corr
0.78	APDLX	Artisan Value	Pair Corr
0.83	APDFX	Artisan High Income	Pair Corr
0.83	APDDX	Artisan Global Discovery	Pair Corr
0.77	APFWX	Artisan Value Income	Pair Corr
0.99	APFPX	Artisan Global Uncon	Pair Corr
0.85	APFOX	Artisan Emerging Markets	Pair Corr
0.83	APFDX	Artisan Global Discovery	Pair Corr
0.77	APHWX	Artisan Value Income	Pair Corr
0.87	APHOX	Artisan Emerging Markets	Pair Corr
0.99	APHPX	Artisan Global Uncon	Pair Corr
0.79	ARTSX	Artisan Small Cap	Pair Corr
0.72	ARTRX	Artisan Global Oppor	Pair Corr
0.87	ARTMX	Artisan Mid Cap	Pair Corr
0.78	ARTLX	Artisan Value	Pair Corr
0.82	ARTFX	Artisan High Income	Pair Corr
0.88	ARTYX	Artisan Developing World	Pair Corr

Moving against Artisan Mutual Fund

0.58	APDKX	Artisan International	Pair Corr
0.72	PMZCX	Pimco Mortgage Oppor	Pair Corr
0.62	ARTJX	Artisan International	Pair Corr
0.58	ARTKX	Artisan International	Pair Corr
0.33	BSICX	Blackrock Strategic Opps	Pair Corr

Related Correlations Analysis

	JGIFX	BIGLX	UIGSX	SSAGX	FHNFX	ICAXX	SPAXX
JGIFX		1.0	0.97	-0.44	1.0	0.0	0.0	JGIFX
BIGLX	1.0		0.97	-0.41	0.99	0.0	0.0	BIGLX
UIGSX	0.97	0.97		-0.42	0.97	0.0	0.0	UIGSX
SSAGX	-0.44	-0.41	-0.42		-0.41	0.0	0.0	SSAGX
FHNFX	1.0	0.99	0.97	-0.41		0.0	0.0	FHNFX
ICAXX	0.0	0.0	0.0	0.0	0.0		0.0	ICAXX
SPAXX	0.0	0.0	0.0	0.0	0.0	0.0		SPAXX
	JGIFX	BIGLX	UIGSX	SSAGX	FHNFX	ICAXX	SPAXX

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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

BIGLX	+ 1.0	JGIFX
FHNFX	+ 1.0	JGIFX
FHNFX	+ 0.99	BIGLX
UIGSX	+ 0.97	JGIFX
UIGSX	+ 0.97	BIGLX
FHNFX	+ 0.97	UIGSX

High negative correlations

SSAGX	- 0.44	JGIFX
SSAGX	- 0.42	UIGSX
FHNFX	- 0.41	SSAGX
SSAGX	- 0.41	BIGLX
SPAXX	- 0.0	ICAXX
SPAXX	- 0.0	FHNFX

Risk-Adjusted Indicators

There is a big difference between Artisan Mutual Fund performing well and Artisan Global 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 Global'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
JGIFX	0.24	(0.04)	0.00	(0.73)	0.00	0.50	(0.51)	1.41
BIGLX	0.23	(0.04)	0.00	(0.59)	0.00	0.33	(0.55)	1.44
UIGSX	0.18	(0.03)	0.00	0.54	0.00	0.34	(0.45)	1.12
SSAGX	0.05	0.01	(0.73)	(0.44)	(0.22)	0.10	(0.10)	0.51
FHNFX	0.24	(0.04)	0.00	(0.61)	0.00	0.44	(0.54)	1.63
ICAXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SPAXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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