Artisan High Correlations

ARTFX Fund

USD 9.10 0.01 0.11%

The current 90-days correlation between Artisan High Income and John Hancock Financial is 0.27 (i.e., Modest diversification). 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

Very poor diversification

The correlation between Artisan High Income and DJI is 0.85 (i.e., Very poor 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 price.

Moving together with Artisan Mutual Fund

0.69	APDWX	Artisan Value Income	Pair Corr
0.73	APDTX	Artisan Thematic	Pair Corr
0.77	APDSX	Artisan Small Cap	Pair Corr
0.91	APDUX	Artisan Floating Rate	Pair Corr
0.73	APDPX	Artisan Global Uncon	Pair Corr
0.77	APDOX	Artisan Emerging Markets	Pair Corr
0.65	APDRX	Artisan Global Oppor	Pair Corr
0.71	APDQX	Artisan Mid Cap	Pair Corr
0.73	APDKX	Artisan International	Pair Corr
0.71	APDJX	Artisan International	Pair Corr
0.65	APDMX	Artisan Mid Cap	Pair Corr
0.76	APDLX	Artisan Value	Pair Corr
0.84	APDGX	Artisan Global Value	Pair Corr
0.99	APDFX	Artisan High Income	Pair Corr
0.75	APDIX	Artisan International	Pair Corr
0.75	APDHX	Artisan Global Equity	Pair Corr
0.75	APDEX	Artisan Sustainable	Pair Corr
0.69	APDDX	Artisan Global Discovery	Pair Corr
0.68	APFWX	Artisan Value Income	Pair Corr
0.72	APFPX	Artisan Global Uncon	Pair Corr
0.74	APFOX	Artisan Emerging Markets	Pair Corr
0.69	APFDX	Artisan Global Discovery	Pair Corr
0.68	APHWX	Artisan Value Income	Pair Corr
0.75	APHOX	Artisan Emerging Markets	Pair Corr
0.73	APHPX	Artisan Global Uncon	Pair Corr
0.78	ARDBX	Artisan International	Pair Corr
0.78	ARHBX	Artisan International	Pair Corr
0.77	ARTSX	Artisan Small Cap	Pair Corr
0.65	ARTRX	Artisan Global Oppor	Pair Corr
0.63	ARTMX	Artisan Mid Cap	Pair Corr
0.74	ARTLX	Artisan Value	Pair Corr
0.75	ARTIX	Artisan International	Pair Corr
0.75	ARTHX	Artisan Global Equity	Pair Corr
0.71	ARTJX	Artisan International	Pair Corr
0.84	ARTGX	Artisan Global Value	Pair Corr

Moving against Artisan Mutual Fund

0.47	APDYX	Artisan Developing World	Pair Corr
0.44	ARTYX	Artisan Developing World	Pair Corr

Related Correlations Analysis

	GCFSX	XFINX	RYFIX	MCBXX	RPFGX	FNPIX	BTO
GCFSX		-0.31	0.18	0.0	0.72	-0.21	0.9	GCFSX
XFINX	-0.31		0.38	0.0	0.1	0.56	-0.19	XFINX
RYFIX	0.18	0.38		0.0	0.68	0.87	0.12	RYFIX
MCBXX	0.0	0.0	0.0		0.0	0.0	0.0	MCBXX
RPFGX	0.72	0.1	0.68	0.0		0.43	0.6	RPFGX
FNPIX	-0.21	0.56	0.87	0.0	0.43		-0.2	FNPIX
BTO	0.9	-0.19	0.12	0.0	0.6	-0.2		BTO
	GCFSX	XFINX	RYFIX	MCBXX	RPFGX	FNPIX	BTO

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

BTO	+ 0.9	GCFSX
FNPIX	+ 0.87	RYFIX
RPFGX	+ 0.72	GCFSX
RPFGX	+ 0.68	RYFIX
BTO	+ 0.6	RPFGX
FNPIX	+ 0.56	XFINX

High negative correlations

XFINX	- 0.31	GCFSX
FNPIX	- 0.21	GCFSX
BTO	- 0.2	FNPIX
BTO	- 0.19	XFINX
BTO	- 0.0	MCBXX
FNPIX	- 0.0	MCBXX

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
GCFSX	0.55	0.10	0.10	0.20	0.53	(0.60)	1.15	(1.12)	3.77
XFINX	0.14	(0.02)	0.00	(0.20)	0.00	0.00	0.22	(0.43)	1.29
RYFIX	0.70	(0.04)	(0.05)	0.02	0.90	(0.72)	1.23	(1.65)	4.28
MCBXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RPFGX	0.80	0.12	0.03	(0.93)	1.10	(0.81)	1.71	(1.77)	5.98
FNPIX	1.22	(0.16)	0.00	(0.02)	0.00	0.00	2.51	(3.01)	8.25
BTO	0.93	0.07	0.06	0.13	1.15	(1.04)	2.26	(1.31)	9.02

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