Artisan Mid Correlations

ARTQX Fund

USD 15.08 0.11 0.72%

The current 90-days correlation between Artisan Mid Cap and T Rowe Price is 0.32 (i.e., Weak 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 weak diversification

The correlation between Artisan Mid Cap and DJI is 0.53 (i.e., Very weak 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

0.61	JVMAX	John Hancock Disciplined	Pair Corr
0.69	JVMIX	John Hancock Disciplined	Pair Corr

Moving against Artisan Mutual Fund

0.65	SRPIX	Short Real Estate	Pair Corr
0.37	JCTFX	John Hancock High	Pair Corr

Related Correlations Analysis

	PRESX	CISMX	TSVIX	AOGIX	AFDVX	PIEQX	ARFVX	GTCSX	NBFCX	BIASX
PRESX		0.43	0.25	0.5	0.31	0.57	0.48	0.11	0.58	0.48	PRESX
CISMX	0.43		0.58	0.37	0.77	0.2	0.31	0.38	0.32	0.49	CISMX
TSVIX	0.25	0.58		0.74	0.87	0.41	0.71	0.82	0.13	0.76	TSVIX
AOGIX	0.5	0.37	0.74		0.57	0.7	1.0	0.57	0.67	0.87	AOGIX
AFDVX	0.31	0.77	0.87	0.57		0.26	0.51	0.68	0.16	0.65	AFDVX
PIEQX	0.57	0.2	0.41	0.7	0.26		0.72	0.55	0.48	0.57	PIEQX
ARFVX	0.48	0.31	0.71	1.0	0.51	0.72		0.56	0.65	0.85	ARFVX
GTCSX	0.11	0.38	0.82	0.57	0.68	0.55	0.56		-0.08	0.62	GTCSX
NBFCX	0.58	0.32	0.13	0.67	0.16	0.48	0.65	-0.08		0.56	NBFCX
BIASX	0.48	0.49	0.76	0.87	0.65	0.57	0.85	0.62	0.56		BIASX
	PRESX	CISMX	TSVIX	AOGIX	AFDVX	PIEQX	ARFVX	GTCSX	NBFCX	BIASX

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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

ARFVX	+ 1.0	AOGIX
AFDVX	+ 0.87	TSVIX
BIASX	+ 0.87	AOGIX
BIASX	+ 0.85	ARFVX
GTCSX	+ 0.82	TSVIX
AFDVX	+ 0.77	CISMX

High negative correlations

NBFCX

- 0.08

GTCSX

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
PRESX	0.79	(0.20)	0.00	(0.14)	0.00	0.00	1.26	(1.27)	2.81
CISMX	0.78	(0.11)	0.00	(0.05)	0.00	0.00	1.30	(1.67)	4.51
TSVIX	0.69	(0.04)	(0.04)	0.03	0.82	(0.77)	1.40	(1.37)	3.76
AOGIX	0.43	(0.03)	(0.08)	0.03	0.59	(0.42)	0.92	(0.88)	2.42
AFDVX	0.77	(0.09)	0.00	(0.01)	0.00	0.00	1.78	(1.83)	4.25
PIEQX	0.63	(0.01)	(0.07)	(0.34)	1.03	(0.60)	1.11	(1.44)	5.64
ARFVX	0.39	(0.02)	(0.08)	0.03	0.51	(0.40)	0.85	(0.79)	2.12
GTCSX	0.79	0.06	(0.01)	(1.16)	1.02	(0.83)	2.17	(1.50)	5.54
NBFCX	0.57	(0.05)	(0.07)	0.01	0.81	(0.58)	1.05	(1.50)	3.64
BIASX	0.85	(0.04)	(0.03)	0.03	1.05	(0.87)	2.11	(1.64)	4.88

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