Baird Aggregate Correlations

Mutual Funds . USA . 
Fund . Baird Aggregate Bond
BAGIX Fund  USD 9.80  0.04  0.41%   
The current 90-days correlation between Baird Aggregate Bond and Metropolitan West Total is 0.92 (i.e., Almost no diversification). The correlation of Baird Aggregate 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.

Baird Aggregate Correlation With Market

Average diversification

The correlation between Baird Aggregate Bond and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baird Aggregate Bond 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 Baird Aggregate Bond. 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 gross domestic product.

Moving together with Baird Mutual Fund

  1.0BAGSX Baird Aggregate BondPairCorr
  0.89BSBIX Baird Short TermPairCorr
  0.97BSBSX Baird Short TermPairCorr
  0.85BSNSX Baird Strategic MunicipalPairCorr
  0.86BSNIX Baird Strategic MunicipalPairCorr
  0.95BTMSX Baird Short TermPairCorr
  0.89BTMIX Baird Short TermPairCorr
  0.86BUBIX Baird Ultra ShortPairCorr
  1.0BCOSX Baird E PlusPairCorr
  1.0BCOIX Baird E PlusPairCorr
  0.86BUBSX Baird Ultra ShortPairCorr
  0.82BIMSX Baird Intermediate BondPairCorr
  0.99BIMIX Baird Intermediate BondPairCorr
  0.75BMBSX Baird Quality IntermPairCorr
  0.85BMBIX Baird Quality IntermPairCorr
  0.89BMNSX Baird E IntermediatePairCorr
  0.89BMNIX Baird E IntermediatePairCorr
  0.71BMQSX Baird Municipal BondPairCorr
  0.72BMQIX Baird Municipal BondPairCorr
  0.78CCWIX Chautauqua InternationalPairCorr
  0.79CCWSX Chautauqua InternationalPairCorr
  0.91VBTLX Vanguard Total BondPairCorr
  1.0VBMFX Vanguard Total BondPairCorr
  1.0VBTIX Vanguard Total BondPairCorr
  0.87VTBSX Vanguard Total BondPairCorr
  1.0VTBIX Vanguard Total BondPairCorr
  1.0VTBNX Vanguard Total BondPairCorr
  0.92FBOFX American FundsPairCorr
  0.99FFBOX American FundsPairCorr
  0.99BFAFX Bond FundPairCorr
  0.99ABNDX Bond FundPairCorr

Moving against Baird Mutual Fund

  0.77BMDSX Baird MidcapPairCorr
  0.77BMDIX Baird MidcapPairCorr
  0.76BSGSX Baird Smallmid CapPairCorr
  0.76BSGIX Baird Smallmid CapPairCorr
  0.69BSVSX Baird Smallcap ValuePairCorr
  0.63BSVIX Baird Smallcap ValuePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Baird Mutual Fund performing well and Baird Aggregate 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 Baird Aggregate'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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