Rev. Date June 28, 2024
This article provides an overview of the Studio feature. For a more detailed FAQ on report construction in Studio, please refer to this article.
General
What is Studio?
Studio is a space to create custom analyses and generate internal reports. For example, you can choose to select or remove metrics that are contained within an analysis block, choose the layout and order of the analysis blocks within a template, choose from a library of chart and graph styles for certain visualizations, and more. Once you’ve designed your preferred layout, you can then generate a report.
What are some of the basics of Studio?
Upon entering Studio, there are a few guided templates that you can select from, with example investments and portfolios to use as a starting point for your analysis. Each template is intended to guide you through an example workflow:
Tearsheet Template - Combine several returns-based and factor-based analyses to create a comprehensive view of an investment or portfolio
Manager Evaluation / Comparison Template - Evaluate either a single investment or multiple investments / portfolios, on an absolute or relative to benchmark basis, by viewing historical and forecasted metrics
Portfolio Review Template - Review performance of a portfolio (both total return and relative to benchmark) as well as performance of specific managers underlying the portfolio.
Private Asset Demo Template - Explore Venn's private asset-specific analytics for your private asset investment and portfolios
You can customize the overall layout of the page, such as adding a block, removing a block, or reordering the blocks. Studio is unique in that you can choose to modify individual blocks, and tailor these analysis blocks to meet your specific needs. Some examples of what you can modify within an individual block include:
Setup - choose Investments & Portfolios, Benchmarks, and Date Range
Subject Selection - option to choose multiple investments and/or portfolios together
Benchmark Type - choose an individual benchmark (unique to each object) or a common benchmark
Customization - create custom titles, labeling, and calculations
Chart Title - customize the analysis block title
Chart Subtitle - add a custom subtitle or short commentary
Other - toggle on percent contribution calculation [1]
Metrics - choose which underlying metrics are displayed and the order of those metrics
Factors - analysis blocks that contain factors also allow you to pick which factors you would like displayed [2]
Format - select your preferred chart or table visualization
When you have finished customizing the layout and any underlying analysis blocks, you can also choose to save the template as a new view, or export the report.
Advanced
What type of analysis blocks can I add?
Selecting any blocks in the “insert” tab allows you to add various different types of analysis blocks that Studio offers:
Performance & Risk
Asset Growth Simulation - view a graph of how investment or portfolio values may grow over time
Calendar Returns - view a table of monthly, quarterly or yearly calendar returns
Correlations -
Compare Correlation - view a correlation matrix for each subject added to the block.
Portfolio Correlation - view a correlation matrix for each constituent investment in a single portfolio.
Residual Portfolio Correlation - view a correlation matrix for each constituent investment’s residual return.
Compare Downside Correlation - view a downside correlation matrix for each subject added to the block.
Portfolio Downside Correlation - view a downside correlation matrix for each constituent investment in a single portfolio.
Distribution - view a histogram visualization of historical returns.
Notable Historical Periods - view a table or bar chart of returns across a set of default and customizable historical periods.
Performance and Risk - includes historical and forecasted performance and risk metrics, such as: Return, Volatility, Sharpe ratio, Max Drawdown, Batting Average, VaR, Skewness, Kurtosis, and more
Portfolio Composition - view a pie chart breakdown of the top-level strategy composition of a single portfolio.
Portfolio Contribution - breaks down portfolio level risk and return metrics into contributions by the portfolio’s underlying investments.
Rolling Correlation - view a line chart of an investment’s or portfolio’s rolling correlation against a benchmark.
Sensitivity Analysis - analyze estimated return of investments or portfolios when a market index or a macroeconomic indicator.
Time Series - view historical time series returns or derived analytics. Examples of layout include a line or bar chart visualization for Calendar Returns, Cumulative Returns, Cumulative Residual Returns, Historical Drawdown, and Rolling Return/Volatility/Sharpe.
Factors
Factor Exposure and Contribution - includes Factor Exposures, Factor Contribution to Risk, and Factor Contribution to Return.
Factor Portfolio Contribution - breaks down Factor Exposures, Factor Contribution to Risk, and Factor Contribution to Return into contributions by the portfolio’s underlying investments.
Factor Trend - view a chart of rolling Factor Exposures, Factor Contribution to Risk, and Factor Contribution to Return.
Holdings
Asset Class - view a table or pie chart breakdown of the investments’ or portfolios’ holdings by asset class.
Geography - view a table or map chart breakdown of the investments’ or portfolio’s holdings by geography.
Sector - view a table or bar chart breakdown of the investments’ or portfolio’s holdings by Equity and Fixed Income sectors.
Private Assets (Beta)
Cash Flow Pacing
Contributions - view the historical and projected contributions and the typical contribution profile of a private asset investment or portfolio.
Distributions - view the historical and projected distributions and the typical distributions profile of a private asset investment or portfolio.
NAV - view the historical and projected NAV and the typical NAV profile of a private asset investment or portfolio.
Net Cash Flow - view the historical and projected net cash flows and the typical net cash flow profile of a private asset investment or portfolio.
Performance Summary - view a summary of the performance metrics across multiple private asset investments, portfolios and the portfolio constituents as of a specified date.
Time Series - view the time series of a private asset performance metric across multiple private asset investments and portfolios.
Asset Growth - Percentile - view projected value of the total portfolio at various risk percentiles given the liquid portfolio’s forecasted risk and return, and the illiquid portfolio’s projected NAV and cash flows.
Asset Growth - NAV Breakdown -view projected value of the total portfolio at a user-specified risk percentiles broken down into the liquid and illiquid components (either by value ($) or percentage), and compare against target private asset allocation level.
Private Asset Summary - view the fund information of investments underlying a private asset portfolio, such as the vintage, asset class and strategy, fund size, etc.
How can I save my work in Studio?
When you’re ready to save your work, click the save icon at the top left of the page. You can access your previously saved views within the “Saved Views” page which is located on the left hand side of Venn. See this article to learn more about saved views.
How can I export my Studio view?
To export your Studio views, click the Excel or PDF icon next to “Export” at the top right corner of the module.
The PDF export will include the text “For Internal Use Only” on each page. To export a report with the watermarks removed for external purposes, please use the Report Lab module. To access Report Lab, please reach out to your Client Solutions representative. Additional fees apply.
[1] Percent contribution toggle is only available within the Factor Contribution and Performance Contribution analysis blocks. Toggling on the percentage contribution option will convert the absolute contribution into percentage contribution such that the column will then sum up to 100%.
[2] The ability to choose which factors as displayed does not affect the underlying methodology used in Venn’s Factor Analysis (see this article for more detail on the methodology), it simply allows you to control which factors are presented in the visual.
This document highlights certain aspects of this feature. As an overview, it does not discuss all material facts or assumptions. Please see Important Disclosure and Disclaimer Information.