Correlation Between Artisan Global and Summit Global

Can any of the company-specific risk be diversified away by investing in both Artisan Global and Summit Global at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Artisan Global and Summit Global into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Artisan Global Discovery and Summit Global Investments, you can compare the effects of market volatilities on Artisan Global and Summit Global and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Artisan Global with a short position of Summit Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Artisan Global and Summit Global.

Diversification Opportunities for Artisan Global and Summit Global

0.24

Correlation Coefficient

Artisan Global  Summit Global

Modest diversification

The 3 months correlation between Artisan and Summit is 0.24. Overlapping area represents the amount of risk that can be diversified away by holding Artisan Global Discovery and Summit Global Investments in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Summit Global Investments and Artisan Global is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Artisan Global Discovery are associated (or correlated) with Summit Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Summit Global Investments has no effect on the direction of Artisan Global i.e., Artisan Global and Summit Global go up and down completely randomly.

Pair Corralation between Artisan Global and Summit Global

Assuming the 90 days horizon Artisan Global Discovery is expected to under-perform the Summit Global. In addition to that, Artisan Global is 3.7 times more volatile than Summit Global Investments. It trades about -0.1 of its total potential returns per unit of risk. Summit Global Investments is currently generating about 0.06 per unit of volatility. If you would invest  1,838  in Summit Global Investments on September 12, 2025 and sell it today you would earn a total of  41.00  from holding Summit Global Investments or generate 2.23% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Very Weak
Accuracy	100.0%
Values	Daily Returns

Artisan Global Discovery  vs.  Summit Global Investments

Artisan Global Discovery

Risk-Adjusted Performance

Weak

Over the last 90 days Artisan Global Discovery has generated negative risk-adjusted returns adding no value to fund investors. In spite of weak performance in the last few months, the Fund's fundamental indicators remain fairly strong which may send shares a bit higher in January 2026. The current disturbance may also be a sign of long term up-swing for the fund investors.

Summit Global Investments

Risk-Adjusted Performance

Mild

Compared to the overall equity markets, risk-adjusted returns on investments in Summit Global Investments are ranked lower than 5 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly strong basic indicators, Summit Global is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Pair Trading with Artisan Global and Summit Global

The main advantage of trading using opposite Artisan Global and Summit Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Artisan Global position performs unexpectedly, Summit Global can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Summit Global will offset losses from the drop in Summit Global's long position.

The idea behind Artisan Global Discovery and Summit Global Investments pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.