Artisan Mid Correlations

APHQX Fund

USD 15.68 0.08 0.51%

The current 90-days correlation between Artisan Mid Cap and Artisan Select Equity is 0.8 (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

Weak diversification

The correlation between Artisan Mid Cap and DJI is 0.35 (i.e., 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

0.92	APHTX	Artisan Focus	Pair Corr
0.86	APHSX	Artisan Small Cap	Pair Corr
0.95	APHRX	Artisan Global Oppor	Pair Corr
0.75	APHKX	Artisan International	Pair Corr
0.83	APHJX	Artisan International	Pair Corr
0.95	APHMX	Artisan Mid Cap	Pair Corr
0.97	APHLX	Artisan Value	Pair Corr
0.86	APHGX	Artisan Global Value	Pair Corr
0.9	APHIX	Artisan International	Pair Corr
0.93	APHHX	Artisan Global Equity	Pair Corr
0.97	FLPKX	Fidelity Low Priced	Pair Corr
0.97	FLPSX	Fidelity Low Priced	Pair Corr
0.89	VMVAX	Vanguard Mid Cap	Pair Corr
0.86	JVMAX	John Hancock Disciplined	Pair Corr
0.9	JVMIX	John Hancock Disciplined	Pair Corr
0.93	VMVIX	Vanguard Mid Cap	Pair Corr
0.97	JMVZX	Jpmorgan Mid Cap	Pair Corr
0.97	JMVRX	Jpmorgan Mid Cap	Pair Corr
0.97	JMVQX	Jpmorgan Mid Cap	Pair Corr
0.97	JMVYX	Jpmorgan Mid Cap	Pair Corr
0.74	FSMDX	Fidelity Mid Cap	Pair Corr

Moving against Artisan Mutual Fund

0.35	APHFX	Artisan High Income	Pair Corr
0.45	UGSDX	Us Government Securities	Pair Corr
0.36	NIE	Allianzgi Equity Con	Pair Corr

Related Correlations Analysis

	APDNX	APHYX	APHTX	APHSX	APHNX	APHRX	APHQX	APHKX	APHJX	APHMX
APDNX		0.75	0.64	0.79	1.0	0.46	0.58	0.33	0.6	0.67	APDNX
APHYX	0.75		0.44	0.7	0.75	0.37	0.47	0.19	0.66	0.55	APHYX
APHTX	0.64	0.44		0.84	0.64	0.94	0.92	0.7	0.75	0.96	APHTX
APHSX	0.79	0.7	0.84		0.79	0.8	0.86	0.51	0.82	0.93	APHSX
APHNX	1.0	0.75	0.64	0.79		0.46	0.58	0.33	0.6	0.67	APHNX
APHRX	0.46	0.37	0.94	0.8	0.46		0.95	0.82	0.83	0.93	APHRX
APHQX	0.58	0.47	0.92	0.86	0.58	0.95		0.75	0.83	0.95	APHQX
APHKX	0.33	0.19	0.7	0.51	0.33	0.82	0.75		0.74	0.63	APHKX
APHJX	0.6	0.66	0.75	0.82	0.6	0.83	0.83	0.74		0.81	APHJX
APHMX	0.67	0.55	0.96	0.93	0.67	0.93	0.95	0.63	0.81		APHMX
	APDNX	APHYX	APHTX	APHSX	APHNX	APHRX	APHQX	APHKX	APHJX	APHMX

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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
APDNX	0.55	0.06	0.01	0.24	0.62	(0.66)	1.24	(1.00)	5.09
APHYX	0.79	0.03	(0.02)	0.18	1.04	(0.79)	1.43	(1.64)	4.65
APHTX	1.16	(0.07)	0.00	(0.06)	0.00	0.00	1.76	(2.56)	13.33
APHSX	1.09	(0.02)	(0.02)	0.05	1.76	(1.01)	2.16	(2.78)	8.38
APHNX	0.55	0.06	0.01	0.24	0.63	(0.66)	1.25	(1.01)	5.12
APHRX	0.84	(0.15)	0.00	(0.29)	0.00	0.00	1.34	(2.14)	12.61
APHQX	0.68	(0.11)	0.00	(0.19)	0.00	0.00	1.28	(1.26)	7.63
APHKX	0.47	(0.07)	0.00	(0.20)	0.00	0.00	0.71	(1.08)	3.72
APHJX	0.62	(0.04)	0.00	(0.06)	0.00	0.00	1.26	(1.43)	4.15
APHMX	1.08	(0.05)	(0.03)	(0.01)	2.75	(0.90)	1.89	(2.62)	13.99

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