Artisan Global Correlations

APHDX Fund

USD 21.83 0.27 1.25%

The current 90-days correlation between Artisan Global Discovery and Precious Metals And is 0.36 (i.e., Weak 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

Poor diversification

The correlation between Artisan Global Discovery and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Artisan Global Discovery 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 Discovery. 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 unemployment.

Moving together with Artisan Mutual Fund

0.92	APDNX	Artisan Select Equity	Pair Corr
0.9	APHYX	Artisan Developing World	Pair Corr
0.93	APHTX	Artisan Focus	Pair Corr
0.98	APHSX	Artisan Small Cap	Pair Corr
0.92	APHNX	Artisan Select Equity	Pair Corr
0.91	APHRX	Artisan Global Oppor	Pair Corr
0.83	APHQX	Artisan Mid Cap	Pair Corr
0.98	APHMX	Artisan Mid Cap	Pair Corr
0.9	APHLX	Artisan Value	Pair Corr
0.82	APHFX	Artisan High Income	Pair Corr
0.76	APHHX	Artisan Global Equity	Pair Corr
0.92	ARTNX	Artisan Select Equity	Pair Corr
0.78	FSWFX	American Funds Smallcap	Pair Corr
0.78	FSFWX	American Funds Smallcap	Pair Corr
0.76	SCWCX	American Fds Smallcap	Pair Corr
0.77	SCWFX	Smallcap World	Pair Corr
0.77	SMCWX	Smallcap World	Pair Corr
0.78	CSPFX	Smallcap World	Pair Corr
0.77	CSPAX	Smallcap World	Pair Corr
0.77	CSPEX	Smallcap World	Pair Corr
0.77	RSLCX	Smallcap World	Pair Corr
0.78	RLLGX	Smallcap World	Pair Corr
0.87	LSHEX	Kinetics Spin Off Steady Growth	Pair Corr
0.78	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.78	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.78	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.78	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.78	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr
0.78	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.87	LSHAX	Horizon Spin Off Steady Growth	Pair Corr
0.91	MUTHX	Franklin Mutual Shares	Pair Corr
0.86	EIGMX	Eaton Vance Global	Pair Corr
0.96	BSPIX	Blackrock Sp 500	Pair Corr

Moving against Artisan Mutual Fund

0.38

APHKX

Artisan International

Pair Corr

Related Correlations Analysis

	UIPMX	FGDIX	USERX	EPGFX	AGGWX	GLECX	GLRBX
UIPMX		1.0	0.96	0.95	0.98	-0.2	0.44	UIPMX
FGDIX	1.0		0.96	0.96	0.98	-0.17	0.43	FGDIX
USERX	0.96	0.96		0.99	0.99	-0.02	0.55	USERX
EPGFX	0.95	0.96	0.99		0.99	0.05	0.55	EPGFX
AGGWX	0.98	0.98	0.99	0.99		-0.03	0.53	AGGWX
GLECX	-0.2	-0.17	-0.02	0.05	-0.03		0.42	GLECX
GLRBX	0.44	0.43	0.55	0.55	0.53	0.42		GLRBX
	UIPMX	FGDIX	USERX	EPGFX	AGGWX	GLECX	GLRBX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

FGDIX	+ 1.0	UIPMX
EPGFX	+ 0.99	USERX
AGGWX	+ 0.99	USERX
AGGWX	+ 0.99	EPGFX
AGGWX	+ 0.98	UIPMX
AGGWX	+ 0.98	FGDIX

High negative correlations

GLECX	- 0.2	UIPMX
GLECX	- 0.17	FGDIX
GLECX	- 0.03	AGGWX
GLECX	- 0.02	USERX

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	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
UIPMX	1.33	(0.04)	(0.07)	(0.02)	1.78	(1.38)	2.60	(2.71)	9.86
FGDIX	1.30	(0.01)	(0.06)	0.07	1.71	(1.41)	2.67	(2.76)	9.78
USERX	1.40	(0.01)	(0.05)	0.09	1.82	(1.44)	3.05	(2.74)	10.13
EPGFX	1.42	0.02	(0.03)	0.17	1.87	(1.42)	2.54	(2.79)	10.62
AGGWX	1.46	(0.02)	(0.05)	0.08	1.79	(1.55)	2.93	(2.72)	9.49
GLECX	0.75	0.23	0.23	0.55	0.35	(0.97)	1.84	(0.89)	4.78
GLRBX	0.31	(0.04)	(0.24)	0.04	0.39	(0.32)	0.62	(0.70)	2.03

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC