Artisan Mid Correlations

ARTMX Fund

USD 40.75 0.11 0.27%

The current 90-days correlation between Artisan Mid Cap and Artisan International Fund is 0.02 (i.e., Significant 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

Poor diversification

The correlation between Artisan Mid Cap and DJI is 0.73 (i.e., 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 population.

Moving together with Artisan Mutual Fund

0.91	APDWX	Artisan Value Income	Pair Corr
0.86	APDYX	Artisan Developing World	Pair Corr
0.89	APDTX	Artisan Thematic	Pair Corr
0.96	APDSX	Artisan Small Cap	Pair Corr
0.76	APDUX	Artisan Floating Rate	Pair Corr
0.84	APDPX	Artisan Global Uncon	Pair Corr
0.84	APDOX	Artisan Emerging Markets	Pair Corr
0.83	APDRX	Artisan Global Oppor	Pair Corr
0.86	APDQX	Artisan Mid Cap	Pair Corr
1.0	APDMX	Artisan Mid Cap	Pair Corr
0.95	APDLX	Artisan Value	Pair Corr
0.81	APDFX	Artisan High Income	Pair Corr
0.7	APDHX	Artisan Global Equity	Pair Corr
0.98	APDDX	Artisan Global Discovery	Pair Corr
0.91	APFWX	Artisan Value Income	Pair Corr
0.84	APFPX	Artisan Global Uncon	Pair Corr
0.83	APFOX	Artisan Emerging Markets	Pair Corr
0.98	APFDX	Artisan Global Discovery	Pair Corr
0.91	APHWX	Artisan Value Income	Pair Corr
0.83	APHOX	Artisan Emerging Markets	Pair Corr
0.84	APHPX	Artisan Global Uncon	Pair Corr
0.86	ARTQX	Artisan Mid Cap	Pair Corr
0.96	ARTSX	Artisan Small Cap	Pair Corr
0.77	ARTRX	Artisan Global Oppor	Pair Corr
0.95	ARTLX	Artisan Value	Pair Corr
0.7	ARTHX	Artisan Global Equity	Pair Corr
0.78	ARTFX	Artisan High Income	Pair Corr
0.86	ARTYX	Artisan Developing World	Pair Corr

Moving against Artisan Mutual Fund

0.63	APDKX	Artisan International	Pair Corr
0.63	ARTKX	Artisan International	Pair Corr

Related Correlations Analysis

	ARTIX	ARTQX	PTRAX	RGAEX	LAVLX
ARTIX		0.13	0.37	-0.07	-0.06	ARTIX
ARTQX	0.13		-0.4	0.83	0.93	ARTQX
PTRAX	0.37	-0.4		-0.69	-0.63	PTRAX
RGAEX	-0.07	0.83	-0.69		0.96	RGAEX
LAVLX	-0.06	0.93	-0.63	0.96		LAVLX
	ARTIX	ARTQX	PTRAX	RGAEX	LAVLX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

LAVLX	+ 0.96	RGAEX
LAVLX	+ 0.93	ARTQX
RGAEX	+ 0.83	ARTQX
PTRAX	+ 0.37	ARTIX
ARTQX	+ 0.13	ARTIX

High negative correlations

RGAEX	- 0.69	PTRAX
LAVLX	- 0.63	PTRAX
PTRAX	- 0.4	ARTQX
RGAEX	- 0.07	ARTIX
LAVLX	- 0.06	ARTIX

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
ARTIX	0.56	(0.03)	0.00	(0.43)	0.00	0.00	0.98	(1.22)	2.90
ARTQX	0.63	(0.07)	(0.11)	0.05	0.62	(0.71)	1.21	(1.04)	4.78
PTRAX	0.23	(0.01)	0.00	0.37	0.00	0.00	0.35	(0.58)	1.40
RGAEX	0.65	0.03	0.02	0.16	0.84	(0.67)	1.34	(1.66)	4.39
LAVLX	0.63	(0.01)	(0.01)	0.12	0.57	(0.72)	1.64	(1.08)	4.74

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