Artisan Select Correlations

ARTNX Fund

USD 16.30 0.01 0.06%

The current 90-days correlation between Artisan Select Equity and The Hartford Municipal is -0.26 (i.e., Very good diversification). The correlation of Artisan Select 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 Select Correlation With Market

Good diversification

The correlation between Artisan Select Equity and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Artisan Select Equity 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 Select Equity. 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 board of governors.

Moving together with Artisan Mutual Fund

0.74	APDNX	Artisan Select Equity	Pair Corr
0.68	APHYX	Artisan Developing World	Pair Corr
0.87	APHTX	Artisan Focus	Pair Corr
0.68	APHSX	Artisan Small Cap	Pair Corr
1.0	APHNX	Artisan Select Equity	Pair Corr
0.64	APHRX	Artisan Global Oppor	Pair Corr
0.91	APHQX	Artisan Mid Cap	Pair Corr
0.92	APHMX	Artisan Mid Cap	Pair Corr
0.74	APHLX	Artisan Value	Pair Corr
0.79	APHFX	Artisan High Income	Pair Corr
0.73	APHHX	Artisan Global Equity	Pair Corr
0.9	APHDX	Artisan Global Discovery	Pair Corr
0.73	VTSAX	Vanguard Total Stock	Pair Corr
0.74	VFIAX	Vanguard 500 Index	Pair Corr
0.73	VTSMX	Vanguard Total Stock	Pair Corr
0.73	VITSX	Vanguard Total Stock	Pair Corr
0.73	VSMPX	Vanguard Total Stock	Pair Corr
0.73	VSTSX	Vanguard Total Stock	Pair Corr
0.74	VFINX	Vanguard 500 Index	Pair Corr
0.73	VFFSX	Vanguard 500 Index	Pair Corr
0.74	VINIX	Vanguard Institutional	Pair Corr
0.73	VIIIX	Vanguard Institutional	Pair Corr
0.68	ARTMX	Artisan Mid Cap	Pair Corr

Moving against Artisan Mutual Fund

0.41	APHKX	Artisan International	Pair Corr
0.51	GPBFX	Gmo E Plus	Pair Corr
0.39	GAAKX	Gmo Alternative Allo	Pair Corr
0.38	GPMFX	Guidepath Managed Futures	Pair Corr

Related Correlations Analysis

	HHMAX	PRINX	BSNSX	FHYVX	NBMAX	TMNIX	BCHIX	ABIMX
HHMAX		0.75	0.88	0.66	0.79	0.98	0.88	0.87	HHMAX
PRINX	0.75		0.86	0.94	0.97	0.76	0.82	0.86	PRINX
BSNSX	0.88	0.86		0.76	0.89	0.89	0.96	0.97	BSNSX
FHYVX	0.66	0.94	0.76		0.86	0.68	0.71	0.74	FHYVX
NBMAX	0.79	0.97	0.89	0.86		0.78	0.87	0.91	NBMAX
TMNIX	0.98	0.76	0.89	0.68	0.78		0.88	0.87	TMNIX
BCHIX	0.88	0.82	0.96	0.71	0.87	0.88		0.98	BCHIX
ABIMX	0.87	0.86	0.97	0.74	0.91	0.87	0.98		ABIMX
	HHMAX	PRINX	BSNSX	FHYVX	NBMAX	TMNIX	BCHIX	ABIMX

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Risk-Adjusted Indicators

There is a big difference between Artisan Mutual Fund performing well and Artisan Select 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 Select'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
HHMAX	0.11	(0.01)	(0.36)	(0.07)	0.16	(0.19)	0.24	(0.24)	1.08
PRINX	0.16	0.02	(0.26)	(0.08)	0.22	(0.23)	0.44	(0.44)	1.59
BSNSX	0.08	0.00	(0.40)	0.05	0.11	(0.14)	0.19	(0.29)	0.88
FHYVX	0.17	0.03	(0.20)	(0.13)	0.21	(0.26)	0.44	(0.44)	1.88
NBMAX	0.13	0.01	(0.34)	0.01	0.18	(0.22)	0.32	(0.32)	1.29
TMNIX	0.15	(0.01)	(0.26)	0.02	0.24	(0.22)	0.37	(0.36)	1.65
BCHIX	0.16	0.02	(0.23)	(0.14)	0.22	(0.22)	0.41	(0.40)	1.53
ABIMX	0.18	0.02	(0.23)	(0.09)	0.27	(0.24)	0.40	(0.50)	1.73

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