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

  0.74APDNX Artisan Select EquityPairCorr
  0.68APHYX Artisan Developing WorldPairCorr
  0.87APHTX Artisan FocusPairCorr
  0.68APHSX Artisan Small CapPairCorr
  1.0APHNX Artisan Select EquityPairCorr
  0.64APHRX Artisan Global OpporPairCorr
  0.91APHQX Artisan Mid CapPairCorr
  0.92APHMX Artisan Mid CapPairCorr
  0.74APHLX Artisan ValuePairCorr
  0.79APHFX Artisan High IncomePairCorr
  0.73APHHX Artisan Global EquityPairCorr
  0.9APHDX Artisan Global DiscoveryPairCorr
  0.73VTSAX Vanguard Total StockPairCorr
  0.74VFIAX Vanguard 500 IndexPairCorr
  0.73VTSMX Vanguard Total StockPairCorr
  0.73VITSX Vanguard Total StockPairCorr
  0.73VSMPX Vanguard Total StockPairCorr
  0.73VSTSX Vanguard Total StockPairCorr
  0.74VFINX Vanguard 500 IndexPairCorr
  0.73VFFSX Vanguard 500 IndexPairCorr
  0.74VINIX Vanguard InstitutionalPairCorr
  0.73VIIIX Vanguard InstitutionalPairCorr
  0.68ARTMX Artisan Mid CapPairCorr

Moving against Artisan Mutual Fund

  0.41APHKX Artisan InternationalPairCorr
  0.51GPBFX Gmo E PlusPairCorr
  0.39GAAKX Gmo Alternative AlloPairCorr
  0.38GPMFX Guidepath Managed FuturesPairCorr

Related Correlations Analysis

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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.