Artisan Mid Correlations

Mutual Funds . USA . 
Fund . Artisan Mid Cap
APHQX Fund  USD 17.20  0.11  0.64%   
The current 90-days correlation between Artisan Mid Cap and Arrow Managed Futures is 0.17 (i.e., Average 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

Significant diversification

The correlation between Artisan Mid Cap and DJI is 0.04 (i.e., Significant 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

  0.83APDNX Artisan Select EquityPairCorr
  0.63APHYX Artisan Developing WorldPairCorr
  0.79APHTX Artisan FocusPairCorr
  0.7APHSX Artisan Small CapPairCorr
  0.91APHNX Artisan Select EquityPairCorr
  0.69APHRX Artisan Global OpporPairCorr
  0.69APHMX Artisan Mid CapPairCorr
  0.71APHLX Artisan ValuePairCorr
  0.63APHFX Artisan High IncomePairCorr
  0.64APHHX Artisan Global EquityPairCorr
  0.82APHDX Artisan Global DiscoveryPairCorr
  0.91ARTNX Artisan Select EquityPairCorr
  0.78FLPKX Fidelity Low PricedPairCorr
  0.79FLPSX Fidelity Low PricedPairCorr
  0.74VMVAX Vanguard Mid CapPairCorr
  0.72JVMAX John Hancock DisciplinedPairCorr
  0.72JVMIX John Hancock DisciplinedPairCorr
  0.71VMVIX Vanguard Mid CapPairCorr
  0.73JMVZX Jpmorgan Mid CapPairCorr
  0.7JMVRX Jpmorgan Mid CapPairCorr
  0.73JMVQX Jpmorgan Mid CapPairCorr
  0.73JMVYX Jpmorgan Mid CapPairCorr
  0.7PCF Putnam High IncomePairCorr
  0.69VMIDX Mid Cap IndexPairCorr
  0.77WWLAX Westwood Largecap ValuePairCorr
  0.89MAWAX Mfs Aggressive GrowthPairCorr

Moving against Artisan Mutual Fund

  0.32APHKX Artisan InternationalPairCorr
  0.35XNXJX Nuveen New JerseyPairCorr

Related Correlations Analysis

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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   
ABNOX
+ 1.0
ABNTX
FIBLX
+ 0.99
FODVX
FIBLX
+ 0.93
ABNTX
ABNOX
+ 0.93
FIBLX
ABNTX
+ 0.92
FODVX
ABNOX
+ 0.92
FODVX
  
High negative correlations   
FIFGX
- 0.39
MFTFX

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.

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