Artisan High Correlations

Mutual Funds . USA . 
Fund . Artisan High Income
ARTFX Fund  USD 9.23  0.01  0.11%   
The current 90-days correlation between Artisan High Income and Artisan Value Income is 0.52 (i.e., Very weak 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

Poor diversification

The correlation between Artisan High Income and DJI is 0.6 (i.e., 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 census.

Moving together with Artisan Mutual Fund

  0.98APDRX Artisan Global OpporPairCorr
  0.97APDKX Artisan InternationalPairCorr
  0.97APDIX Artisan InternationalPairCorr
  0.98ARDBX Artisan InternationalPairCorr
  0.93ARTQX Artisan Mid CapPairCorr
  0.95ARTSX Artisan Small CapPairCorr
  0.98ARTRX Artisan Global OpporPairCorr
  0.98ARTMX Artisan Mid CapPairCorr
  0.98ARTLX Artisan ValuePairCorr
  0.97ARTIX Artisan InternationalPairCorr
  0.97ARTHX Artisan Global EquityPairCorr
  0.97ARTKX Artisan InternationalPairCorr
  0.98ARTGX Artisan Global ValuePairCorr
  0.93ARTYX Artisan Developing WorldPairCorr
  0.99VWEAX Vanguard High YieldPairCorr
  0.99VWEHX Vanguard High YieldPairCorr
  1.0BHYCX Blackrock Hi YldPairCorr
  1.0BHYIX Blackrock High YieldPairCorr
  0.99BHYSX Blackrock Hi YldPairCorr
  0.99BHYAX Blackrock High YieldPairCorr
  0.97FAHHX American Funds AmericanPairCorr
  0.97FTAHX American Funds AmericanPairCorr
  0.97AHTFX American High IncomePairCorr
  0.97AHTCX American High IncomePairCorr
  0.96SMPIX Semiconductor Ultrasector Steady GrowthPairCorr
  0.96SMPSX Semiconductor Ultrasector Steady GrowthPairCorr
  0.95TTEEX T Rowe PricePairCorr
  0.95TREMX T Rowe PricePairCorr
  0.98FIKGX Fidelity Advisor SemPairCorr
  0.98ONERX One Rock FundPairCorr
  0.98FELCX Fidelity Advisor SemPairCorr
  0.98FELIX Fidelity Advisor SemPairCorr
  0.98FSELX Fidelity Select SemiPairCorr
  0.98FELAX Fidelity Advisor SemPairCorr
  0.98ATECX Ab Sustainable GlobalPairCorr
  0.97TILCX T Rowe PricePairCorr
  0.99CBLAX Columbia BalancedPairCorr
  0.96PCGRX Pioneer Mid CapPairCorr
  0.99TRROX T Rowe PricePairCorr

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 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
APDWX  0.54  0.05  0.00  0.22  0.45 
(0.60)
 1.33 
(1.23)
 3.66 
APDYX  0.71  0.14  0.11  0.33  0.53 
(0.79)
 2.02 
(1.39)
 4.40 
APDTX  0.68  0.22  0.15  0.44  0.57 
(0.76)
 2.22 
(1.28)
 5.55 
APDSX  0.93  0.04  0.04  0.16  1.00 
(1.03)
 2.39 
(1.68)
 6.90 
APDUX  0.09  0.05  0.00  1.13  0.00 
 0.00 
 0.44 
(0.11)
 0.75 
APDPX  0.10  0.04 (0.64)(0.75) 0.00 
(0.15)
 0.29 
(0.10)
 0.58 
APDOX  0.13  0.08 (0.27) 1.28  0.00 
(0.20)
 0.39 
(0.19)
 0.88 
APDRX  0.59  0.14  0.15  0.34  0.22 
(0.72)
 1.71 
(1.06)
 3.60 
APDQX  0.77 (0.02)(0.03) 0.11  0.83 
(0.88)
 1.91 
(1.58)
 6.08 
APDKX  0.43  0.07 (0.02) 0.31  0.34 
(0.46)
 1.00 
(0.80)
 2.93 

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