Artisan Value Correlations

APHLX Fund

USD 15.95 0.08 0.50%

The current 90-days correlation between Artisan Value and Artisan Select Equity is 0.88 (i.e., Very poor diversification). The correlation of Artisan Value 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 Value Correlation With Market

Very poor diversification

The correlation between Artisan Value Fund and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Artisan Value Fund 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 Value 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 bureau of economic analysis.

Moving together with Artisan Mutual Fund

0.91	APDNX	Artisan Select Equity	Pair Corr
0.75	APHYX	Artisan Developing World	Pair Corr
0.85	APHTX	Artisan Focus	Pair Corr
0.88	APHSX	Artisan Small Cap	Pair Corr
0.91	APHNX	Artisan Select Equity	Pair Corr
0.73	APHRX	Artisan Global Oppor	Pair Corr
0.86	APHQX	Artisan Mid Cap	Pair Corr
0.93	APHMX	Artisan Mid Cap	Pair Corr
0.66	APHFX	Artisan High Income	Pair Corr
0.69	APHHX	Artisan Global Equity	Pair Corr
0.9	APHDX	Artisan Global Discovery	Pair Corr
0.91	ARTNX	Artisan Select Equity	Pair Corr
0.89	VVIAX	Vanguard Value Index	Pair Corr
0.96	DOXGX	Dodge Cox Stock	Pair Corr
0.77	AFMFX	American Mutual	Pair Corr
0.77	FFMMX	American Funds American	Pair Corr
0.77	FFFMX	American Funds American	Pair Corr
0.77	AMRMX	American Mutual	Pair Corr
0.77	AMFFX	American Mutual	Pair Corr
0.76	AMFCX	American Mutual	Pair Corr
0.96	DODGX	Dodge Stock Fund	Pair Corr
0.89	VIVAX	Vanguard Value Index	Pair Corr
0.89	LSHEX	Kinetics Spin Off Steady Growth	Pair Corr
0.85	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.85	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.85	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.85	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.85	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr
0.85	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.89	LSHAX	Horizon Spin Off Steady Growth	Pair Corr
0.92	VIGAX	Vanguard Growth Index	Pair Corr
0.88	JCNAX	Janus Contrarian	Pair Corr
0.97	SECIX	Guggenheim Large Cap	Pair Corr

Moving against Artisan Mutual Fund

0.47	APHKX	Artisan International	Pair Corr
0.31	APHJX	Artisan International	Pair Corr

Related Correlations Analysis

	APDNX	APHYX	APHTX	APHSX	APHNX	APHRX	APHQX	APHKX	APHJX	APHMX
APDNX		0.83	0.88	0.9	1.0	0.82	0.89	-0.3	-0.17	0.91	APDNX
APHYX	0.83		0.92	0.84	0.83	0.9	0.67	-0.32	-0.31	0.88	APHYX
APHTX	0.88	0.92		0.87	0.88	0.91	0.77	-0.39	-0.3	0.94	APHTX
APHSX	0.9	0.84	0.87		0.9	0.87	0.85	-0.36	-0.15	0.95	APHSX
APHNX	1.0	0.83	0.88	0.9		0.82	0.89	-0.3	-0.17	0.91	APHNX
APHRX	0.82	0.9	0.91	0.87	0.82		0.79	-0.08	0.03	0.85	APHRX
APHQX	0.89	0.67	0.77	0.85	0.89	0.79		-0.08	0.11	0.81	APHQX
APHKX	-0.3	-0.32	-0.39	-0.36	-0.3	-0.08	-0.08		0.87	-0.51	APHKX
APHJX	-0.17	-0.31	-0.3	-0.15	-0.17	0.03	0.11	0.87		-0.35	APHJX
APHMX	0.91	0.88	0.94	0.95	0.91	0.85	0.81	-0.51	-0.35		APHMX
	APDNX	APHYX	APHTX	APHSX	APHNX	APHRX	APHQX	APHKX	APHJX	APHMX

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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

APHNX	+ 1.0	APDNX
APHMX	+ 0.95	APHSX
APHMX	+ 0.94	APHTX
APHTX	+ 0.92	APHYX
APHMX	+ 0.91	APDNX
APHRX	+ 0.91	APHTX

High negative correlations

APHMX	- 0.51	APHKX
APHKX	- 0.39	APHTX
APHKX	- 0.36	APHSX
APHMX	- 0.35	APHJX
APHKX	- 0.32	APHYX
APHJX	- 0.31	APHYX

Risk-Adjusted Indicators

There is a big difference between Artisan Mutual Fund performing well and Artisan Value 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 Value'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
APDNX	0.55	(0.01)	(0.07)	0.10	0.47	(0.65)	1.17	(0.99)	3.41
APHYX	0.78	0.07	0.04	0.21	0.88	(0.86)	1.47	(1.64)	5.50
APHTX	0.76	0.05	0.03	0.18	0.99	(0.77)	1.72	(1.31)	5.01
APHSX	0.95	0.01	0.03	0.13	1.14	(0.94)	1.96	(1.99)	5.86
APHNX	0.55	(0.01)	(0.07)	0.10	0.45	(0.66)	1.11	(0.99)	3.43
APHRX	0.65	(0.03)	(0.07)	0.08	0.83	(0.68)	1.29	(1.32)	4.61
APHQX	0.63	(0.05)	(0.07)	0.07	0.60	(0.71)	1.44	(1.05)	4.80
APHKX	0.46	(0.09)	0.00	(0.11)	0.00	0.00	0.95	(1.00)	2.78
APHJX	0.68	(0.15)	0.00	(0.07)	0.00	0.00	1.26	(1.43)	3.76
APHMX	0.78	0.05	0.04	0.17	0.99	(0.76)	1.58	(1.53)	4.94

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