Artisan Focus Correlations

APHTX Fund

USD 25.22 0.01 0.04%

The current 90-days correlation between Artisan Focus and Artisan Select Equity is 0.56 (i.e., Very weak diversification). The correlation of Artisan Focus 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 Focus Correlation With Market

Poor diversification

The correlation between Artisan Focus and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Artisan Focus 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 Focus. 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 estimate.

Moving together with Artisan Mutual Fund

0.88	APDNX	Artisan Select Equity	Pair Corr
0.92	APHYX	Artisan Developing World	Pair Corr
0.87	APHSX	Artisan Small Cap	Pair Corr
0.88	APHNX	Artisan Select Equity	Pair Corr
0.91	APHRX	Artisan Global Oppor	Pair Corr
0.77	APHQX	Artisan Mid Cap	Pair Corr
0.94	APHMX	Artisan Mid Cap	Pair Corr
0.85	APHLX	Artisan Value	Pair Corr
0.84	APHFX	Artisan High Income	Pair Corr
0.69	APHHX	Artisan Global Equity	Pair Corr
0.93	APHDX	Artisan Global Discovery	Pair Corr
0.87	ARTNX	Artisan Select Equity	Pair Corr
0.97	FAFGX	American Funds	Pair Corr
0.97	FFAFX	American Funds	Pair Corr
0.97	GFACX	Growth Fund	Pair Corr
0.97	GFAFX	Growth Fund	Pair Corr
0.97	AGTHX	Growth Fund	Pair Corr
0.97	CGFFX	Growth Fund	Pair Corr
0.97	CGFCX	Growth Fund	Pair Corr
0.97	CGFAX	Growth Fund	Pair Corr
0.97	CGFEX	Growth Fund	Pair Corr
0.97	RGAEX	Growth Fund	Pair Corr
0.8	PFN	Pimco Income Strategy	Pair Corr
0.85	XNKGX	Nuveen Georgia Quality	Pair Corr
0.82	XPPRX	Voya Prime Rate	Pair Corr
0.85	PCF	Putnam High Income	Pair Corr
0.89	VFORX	Vanguard Target Reti	Pair Corr
0.82	GUHYX	Victory High Yield	Pair Corr
0.85	EIGMX	Eaton Vance Global	Pair Corr

Moving against Artisan Mutual Fund

0.39	APHKX	Artisan International	Pair Corr
0.58	XNXJX	Nuveen New Jersey	Pair Corr
0.5	XNBHX	Neuberger Berman Int	Pair Corr

Related Correlations Analysis

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

High negative correlations

APHMX	- 0.51	APHKX
APHKX	- 0.36	APHSX
APHMX	- 0.35	APHJX
APHKX	- 0.32	APHYX
APHJX	- 0.31	APHYX
APHKX	- 0.3	APHNX

Risk-Adjusted Indicators

There is a big difference between Artisan Mutual Fund performing well and Artisan Focus 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 Focus' 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
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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