Artisan Mid Correlations

Mutual Funds . USA . 
Fund . Artisan Mid Cap
APHQX Fund  USD 15.46  0.03  0.19%   
The current 90-days correlation between Artisan Mid Cap and Fidelity Capital Income is 0.74 (i.e., 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

Very poor diversification

The correlation between Artisan Mid Cap and DJI is 0.86 (i.e., Very 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 producer price index.

Moving together with Artisan Mutual Fund

  0.95APDNX Artisan Select EquityPairCorr
  0.85APHYX Artisan Developing WorldPairCorr
  0.9APHTX Artisan FocusPairCorr
  0.95APHSX Artisan Small CapPairCorr
  0.95APHNX Artisan Select EquityPairCorr
  0.92APHRX Artisan Global OpporPairCorr
  0.9APHKX Artisan InternationalPairCorr
  0.89APHJX Artisan InternationalPairCorr
  0.92APHMX Artisan Mid CapPairCorr
  0.97APHLX Artisan ValuePairCorr
  0.93APHGX Artisan Global ValuePairCorr
  0.93APHFX Artisan High IncomePairCorr
  0.87APHIX Artisan InternationalPairCorr
  0.89APHHX Artisan Global EquityPairCorr
  0.92APHEX Artisan Emerging MarketsPairCorr
  0.89APHDX Artisan Global DiscoveryPairCorr
  0.95ARTNX Artisan Select EquityPairCorr
  0.97VMVAX Vanguard Mid CapPairCorr
  0.96JVMAX John Hancock DisciplinedPairCorr
  0.96JVMIX John Hancock DisciplinedPairCorr
  0.97VMVIX Vanguard Mid CapPairCorr
  0.98JMVZX Jpmorgan Mid CapPairCorr
  0.98JMVRX Jpmorgan Mid CapPairCorr
  0.98JMVQX Jpmorgan Mid CapPairCorr
  0.98JMVYX Jpmorgan Mid CapPairCorr
  0.98JMVPX Jpmorgan Mid CapPairCorr
  0.97VETAX Victory Sycamore EstPairCorr
  0.86GAAKX Gmo Alternative AlloPairCorr
  0.85GAAGX Gmo Alternative AlloPairCorr
  0.69GPBFX Gmo E PlusPairCorr
  0.8PITEX Tax Exempt BondPairCorr
  0.91KAUCX Federated KaufmannPairCorr
  0.64SWAGX Schwab Aggregate BondPairCorr
  0.95GGKPX Goldman Sachs IncomePairCorr

Moving against Artisan Mutual Fund

  0.41GPMFX Guidepath Managed FuturesPairCorr

Related Correlations Analysis

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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.

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