Artisan Mid Correlations

APDQX Fund

USD 17.17 0.11 0.64%

The current 90-days correlation between Artisan Mid Cap and Prudential Jennison Financial is 0.88 (i.e., Very poor diversification). The correlation of Artisan Mid 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 Mid Correlation With Market

Very poor diversification

The correlation between Artisan Mid Cap and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Artisan Mid Cap 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 Mid Cap. 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 producer price index.

Moving together with Artisan Mutual Fund

0.92	APDWX	Artisan Value Income	Pair Corr
0.7	APDYX	Artisan Developing World	Pair Corr
0.79	APDTX	Artisan Thematic	Pair Corr
0.88	APDSX	Artisan Small Cap	Pair Corr
0.72	APDOX	Artisan Emerging Markets	Pair Corr
0.79	APDRX	Artisan Global Oppor	Pair Corr
0.85	APDMX	Artisan Mid Cap	Pair Corr
0.89	APDLX	Artisan Value	Pair Corr
0.62	APDGX	Artisan Global Value	Pair Corr
0.65	APDFX	Artisan High Income	Pair Corr
0.81	APDHX	Artisan Global Equity	Pair Corr
0.92	APFWX	Artisan Value Income	Pair Corr
0.72	APHOX	Artisan Emerging Markets	Pair Corr
1.0	ARTQX	Artisan Mid Cap	Pair Corr
0.88	ARTSX	Artisan Small Cap	Pair Corr
0.79	ARTRX	Artisan Global Oppor	Pair Corr
0.85	ARTMX	Artisan Mid Cap	Pair Corr
0.89	ARTLX	Artisan Value	Pair Corr
0.81	ARTHX	Artisan Global Equity	Pair Corr
0.61	ARTGX	Artisan Global Value	Pair Corr
0.65	ARTFX	Artisan High Income	Pair Corr
0.7	ARTYX	Artisan Developing World	Pair Corr
0.79	ARTTX	Artisan Thematic	Pair Corr
0.94	FLPKX	Fidelity Low Priced	Pair Corr
0.94	FLPSX	Fidelity Low Priced	Pair Corr
0.89	VMVAX	Vanguard Mid Cap	Pair Corr
0.93	JVMAX	John Hancock Disciplined	Pair Corr

Moving against Artisan Mutual Fund

0.5

PFHCX

Pacific Funds Small

Pair Corr

Related Correlations Analysis

	PFSQX	IAAEX	FTIXX	FIKBX
PFSQX		0.89	0.29	1.0	PFSQX
IAAEX	0.89		0.05	0.87	IAAEX
FTIXX	0.29	0.05		0.29	FTIXX
FIKBX	1.0	0.87	0.29		FIKBX
	PFSQX	IAAEX	FTIXX	FIKBX

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Risk-Adjusted Indicators

There is a big difference between Artisan Mutual Fund performing well and Artisan Mid 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 Mid'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	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PFSQX	0.80	0.06	0.13	0.16	0.51	(1.01)	1.58	(1.42)	8.34
IAAEX	0.54	(0.02)	(0.09)	0.08	0.52	(0.61)	1.03	(0.98)	3.17
FTIXX	0.03	0.01	0.00	(0.30)	0.00	0.00	0.00	0.00	1.01
FIKBX	0.84	0.09	0.17	0.18	0.51	(1.03)	1.88	(1.15)	9.76

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