Baird Aggregate Correlations

BAGSX Fund

USD 10.20 0.05 0.49%

The current 90-days correlation between Baird Aggregate Bond and Pear Tree Polaris is 0.25 (i.e., Modest 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 0.14 (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 state.

Moving together with Baird Mutual Fund

1.0	BAGIX	Baird Aggregate Bond	Pair Corr
0.89	BSBIX	Baird Short Term	Pair Corr
0.97	BSBSX	Baird Short Term	Pair Corr
0.85	BSNIX	Baird Strategic Municipal	Pair Corr
0.95	BTMSX	Baird Short Term	Pair Corr
0.89	BTMIX	Baird Short Term	Pair Corr
0.86	BUBIX	Baird Ultra Short	Pair Corr
1.0	BCOSX	Baird E Plus	Pair Corr
1.0	BCOIX	Baird E Plus	Pair Corr
0.86	BUBSX	Baird Ultra Short	Pair Corr
0.82	BIMSX	Baird Intermediate Bond	Pair Corr
0.99	BIMIX	Baird Intermediate Bond	Pair Corr
0.75	BMBSX	Baird Quality Interm	Pair Corr
0.84	BMBIX	Baird Quality Interm	Pair Corr
0.89	BMNSX	Baird E Intermediate	Pair Corr
0.89	BMNIX	Baird E Intermediate	Pair Corr
0.71	BMQSX	Baird Municipal Bond	Pair Corr
0.72	BMQIX	Baird Municipal Bond	Pair Corr
0.77	CCWIX	Chautauqua International	Pair Corr
0.78	CCWSX	Chautauqua International	Pair Corr
0.91	VBTLX	Vanguard Total Bond	Pair Corr
1.0	VBMFX	Vanguard Total Bond	Pair Corr
1.0	VBTIX	Vanguard Total Bond	Pair Corr
0.87	VTBSX	Vanguard Total Bond	Pair Corr
1.0	VTBIX	Vanguard Total Bond	Pair Corr
1.0	VTBNX	Vanguard Total Bond	Pair Corr
0.92	FBOFX	American Funds	Pair Corr
0.99	FFBOX	American Funds	Pair Corr
0.99	BFAFX	Bond Fund	Pair Corr
0.99	ABNDX	Bond Fund	Pair Corr
0.84	PFN	Pimco Income Strategy	Pair Corr

Moving against Baird Mutual Fund

0.77	BSGIX	Baird Smallmid Cap	Pair Corr
0.77	BMDSX	Baird Midcap	Pair Corr
0.77	BMDIX	Baird Midcap	Pair Corr
0.69	BSVSX	Baird Smallcap Value	Pair Corr
0.64	BSVIX	Baird Smallcap Value	Pair Corr
0.63	BSGSX	Baird Smallmid Cap	Pair Corr

Related Correlations Analysis

	QFVOX	TGFNX	PAXHX	WGROX	BAGIX
QFVOX		0.88	0.79	-0.49	0.89	QFVOX
TGFNX	0.88		0.78	-0.66	1.0	TGFNX
PAXHX	0.79	0.78		-0.15	0.8	PAXHX
WGROX	-0.49	-0.66	-0.15		-0.62	WGROX
BAGIX	0.89	1.0	0.8	-0.62		BAGIX
	QFVOX	TGFNX	PAXHX	WGROX	BAGIX

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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

BAGIX	+ 1.0	TGFNX
BAGIX	+ 0.89	QFVOX
TGFNX	+ 0.88	QFVOX
BAGIX	+ 0.8	PAXHX
PAXHX	+ 0.79	QFVOX
PAXHX	+ 0.78	TGFNX

High negative correlations

WGROX	- 0.66	TGFNX
BAGIX	- 0.62	WGROX
WGROX	- 0.49	QFVOX
WGROX	- 0.15	PAXHX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
QFVOX	0.61	0.13	0.18	0.60	0.63	(0.61)	1.36	(1.00)	3.51
TGFNX	0.27	0.04	0.22	0.55	0.19	(0.32)	0.64	(0.52)	1.60
PAXHX	0.15	0.02	0.22	3.69	0.00	(0.23)	0.50	(0.33)	1.17
WGROX	0.98	(0.13)	0.00	12.46	0.00	0.00	1.55	(2.15)	5.32
BAGIX	0.25	0.03	0.23	0.51	0.15	(0.30)	0.52	(0.41)	1.36

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