Artisan Mid Correlations

Mutual Funds . USA . 
Fund . Artisan Mid Cap
ARTMX Fund  USD 32.27  0.05  0.16%   
The current 90-days correlation between Artisan Mid Cap and Artisan International Fund is 0.56 (i.e., Very 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

Poor diversification

The correlation between Artisan Mid Cap and DJI is 0.65 (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

  0.89APDTX Artisan ThematicPairCorr
  0.91APDSX Artisan Small CapPairCorr
  0.88APDRX Artisan Global OpporPairCorr
  0.67APDQX Artisan Mid CapPairCorr
  0.94APDMX Artisan Mid CapPairCorr
  0.86APDDX Artisan Global DiscoveryPairCorr
  0.94APFDX Artisan Global DiscoveryPairCorr
  0.73ARTSX Artisan Small CapPairCorr
  0.88ARTRX Artisan Global OpporPairCorr

Moving against Artisan Mutual Fund

  0.5ARDBX Artisan InternationalPairCorr
  0.5ARHBX Artisan InternationalPairCorr
  0.48APDIX Artisan InternationalPairCorr
  0.44APDHX Artisan Global EquityPairCorr
  0.38APDKX Artisan InternationalPairCorr
  0.32APFPX Artisan Global UnconPairCorr
  0.48ARTIX Artisan InternationalPairCorr
  0.44ARTHX Artisan Global EquityPairCorr
  0.33ARTKX Artisan InternationalPairCorr

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   
LAVLX
+ 0.95
RGAEX
PTRAX
+ 0.92
ARTIX
RGAEX
+ 0.71
ARTQX
LAVLX
+ 0.71
ARTQX
  
High negative correlations   
RGAEX
- 0.53
PTRAX
LAVLX
- 0.51
PTRAX
RGAEX
- 0.41
ARTIX
LAVLX
- 0.4
ARTIX
PTRAX
- 0.11
ARTQX
ARTQX
- 0.02
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.

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