Artisan Select Correlations

APHNX Fund

USD 18.99 0.09 0.48%

The current 90-days correlation between Artisan Select Equity and Flexible Bond Portfolio is 0.05 (i.e., Significant 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

Very poor diversification

The correlation between Artisan Select Equity and DJI is 0.87 (i.e., Very poor 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 state.

Moving together with Artisan Mutual Fund

1.0	APDNX	Artisan Select Equity	Pair Corr
0.61	APHTX	Artisan Focus	Pair Corr
0.77	APHSX	Artisan Small Cap	Pair Corr
0.71	APHMX	Artisan Mid Cap	Pair Corr
0.98	APHGX	Artisan Global Value	Pair Corr
0.69	APHFX	Artisan High Income	Pair Corr
0.66	APHHX	Artisan Global Equity	Pair Corr
0.83	APHEX	Artisan Emerging Markets	Pair Corr
1.0	ARTNX	Artisan Select Equity	Pair Corr
0.82	FWWMX	American Funds Washington	Pair Corr
0.82	FWMMX	American Funds Washington	Pair Corr
0.82	AWSHX	Washington Mutual	Pair Corr
0.67	WSHCX	Washington Mutual	Pair Corr
0.7	WSHFX	Washington Mutual	Pair Corr
0.91	VVIAX	Vanguard Value Index	Pair Corr
0.79	RWMAX	Washington Mutual	Pair Corr
0.7	CWMAX	Washington Mutual	Pair Corr
0.82	RWMGX	Washington Mutual	Pair Corr
0.67	CWMCX	Washington Mutual	Pair Corr
0.82	FTCAX	Templeton Strained Bond	Pair Corr
0.91	EISIX	Eagle International Stock	Pair Corr
0.62	CPCTX	Counterpoint Tactical	Pair Corr
0.8	DABKX	Dreyfus Yield Enhancement	Pair Corr

Moving against Artisan Mutual Fund

0.41	APHQX	Artisan Mid Cap	Pair Corr
0.87	USPSX	Profunds Ultrashort	Pair Corr
0.87	USPIX	Profunds Ultrashort	Pair Corr
0.73	TCTGX	Transamerica Cleartrack	Pair Corr
0.72	TDKTX	Cleartrack 2015 Class	Pair Corr
0.72	TCTJX	Transamerica Cleartrack	Pair Corr
0.72	TCSUX	Cleartrack 2020 Class	Pair Corr
0.58	PDI	Pimco Dynamic Income	Pair Corr

Related Correlations Analysis

	JAFLX	FHTFX	OWFIX	UIITX	BBINX	0P000070L2	XAFBX
JAFLX		0.91	0.97	0.98	0.91	0.74	0.91	JAFLX
FHTFX	0.91		0.83	0.91	0.99	0.82	0.98	FHTFX
OWFIX	0.97	0.83		0.94	0.83	0.71	0.8	OWFIX
UIITX	0.98	0.91	0.94		0.92	0.77	0.9	UIITX
BBINX	0.91	0.99	0.83	0.92		0.86	0.97	BBINX
0P000070L2	0.74	0.82	0.71	0.77	0.86		0.75	0P000070L2
XAFBX	0.91	0.98	0.8	0.9	0.97	0.75		XAFBX
	JAFLX	FHTFX	OWFIX	UIITX	BBINX	0P000070L2	XAFBX

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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
JAFLX	0.15	0.03	(0.14)	1.23	(0.20)	0.30	(0.20)	0.99
FHTFX	0.13	0.07	0.04	(11.27)	(0.23)	0.39	(0.13)	1.16
OWFIX	0.13	0.02	(0.24)	2.35	(0.18)	0.29	(0.20)	0.68
UIITX	0.16	0.03	(0.12)	1.68	(0.21)	0.33	(0.32)	0.97
BBINX	0.09	0.03	(0.22)	2.91	(0.17)	0.29	(0.10)	0.59
0P000070L2	0.03	0.01	0.00	(0.46)	0.00	0.00	0.00	0.40
XAFBX	0.24	0.11	0.18	(8.74)	(0.34)	0.84	(0.33)	2.18

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