Artisan Global Correlations

Mutual Funds . USA . 
Fund . Artisan Global Discovery
APHDX Fund  USD 22.56  0.04  0.18%   
The current 90-days correlation between Artisan Global Discovery and Sprott Gold Equity is -0.38 (i.e., Very good diversification). The correlation of Artisan Global 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 Global Correlation With Market

Poor diversification

The correlation between Artisan Global Discovery and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Artisan Global Discovery 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 Global Discovery. 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 unemployment.

Moving together with Artisan Mutual Fund

  0.72APDNX Artisan Select EquityPairCorr
  0.71APHYX Artisan Developing WorldPairCorr
  0.67APHTX Artisan FocusPairCorr
  0.66APHSX Artisan Small CapPairCorr
  0.97APHNX Artisan Select EquityPairCorr
  0.67APHRX Artisan Global OpporPairCorr
  0.89APHQX Artisan Mid CapPairCorr
  0.7APHKX Artisan InternationalPairCorr
  0.98APHJX Artisan InternationalPairCorr
  0.72APHMX Artisan Mid CapPairCorr
  0.71APHLX Artisan ValuePairCorr
  0.98APHGX Artisan Global ValuePairCorr
  0.96APHFX Artisan High IncomePairCorr
  0.93APHHX Artisan Global EquityPairCorr
  0.67APHEX Artisan Emerging MarketsPairCorr
  0.97ARTNX Artisan Select EquityPairCorr
  0.69FSWFX American Funds SmallcapPairCorr
  0.68SCWCX American Fds SmallcapPairCorr
  0.97SCWFX Smallcap WorldPairCorr
  0.69SMCWX Smallcap WorldPairCorr
  0.69CSPFX Smallcap WorldPairCorr
  0.68CSPAX Smallcap WorldPairCorr
  0.69CSPEX Smallcap WorldPairCorr
  0.69RSLCX Smallcap WorldPairCorr
  0.69RLLGX Smallcap WorldPairCorr
  0.72QMGAX Oppenheimer GlobalPairCorr
  0.95MENIX Madison FundsPairCorr
  0.62JEVAX Emerging MarketsPairCorr
  0.65PPSIX Preferred SecuritiesPairCorr

Moving against Artisan Mutual Fund

  0.53GPMFX Guidepath Managed FuturesPairCorr
  0.33PQTAX Pimco Trends ManagedPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

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

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