Bridge Builder Correlations

Mutual Funds . USA . 
Fund . Bridge Builder Large
BBGLX Fund  USD 27.73  0.15  0.54%   
The current 90-days correlation between Bridge Builder Large and Prudential High Yield is 0.07 (i.e., Significant diversification). The correlation of Bridge Builder 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.

Bridge Builder Correlation With Market

Poor diversification

The correlation between Bridge Builder Large and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bridge Builder Large 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 Bridge Builder Large. 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 bureau of economic analysis.

Moving together with Bridge Mutual Fund

  0.96BBGSX Bridge Builder SmallmidPairCorr
  0.96BBTSX Bridge Builder TrustPairCorr
  0.99BBTLX Bridge Builder TrustPairCorr
  0.95BBVSX Bridge Builder SmallmidPairCorr
  0.95BBVLX Bridge Builder LargePairCorr
  0.98FAFGX American FundsPairCorr
  0.98FFAFX American FundsPairCorr
  0.98GFACX Growth FundPairCorr
  0.98GFAFX Growth FundPairCorr
  0.98AGTHX Growth FundPairCorr
  0.98CGFFX Growth FundPairCorr
  0.98CGFCX Growth FundPairCorr
  0.98CGFAX Growth FundPairCorr
  0.98CGFEX Growth FundPairCorr
  0.98RGAEX Growth FundPairCorr
  0.89FTCAX Templeton Strained BondPairCorr
  0.82PYAIX Payden Absolute ReturnPairCorr
  0.83PYARX Payden Absolute ReturnPairCorr
  0.86BCAAX Brandywineglobal CPairCorr
  0.98DXQLX Direxion Monthly NasdaqPairCorr
  0.86BDJ Blackrock Enhanced EquityPairCorr
  0.89PTY Pimco Corporate IncomePairCorr
  0.95DOXGX Dodge Cox StockPairCorr
  0.81GAB Gabelli Equity TrustPairCorr
  0.94AASMX Thrivent Small CapPairCorr
  0.98LCGNX William Blair LargePairCorr
  0.7TAIAX American Funds TaxPairCorr
  0.95VSMAX Vanguard Small CapPairCorr
  0.99VFINX Vanguard 500 IndexPairCorr

Moving against Bridge Mutual Fund

  0.97USPSX Profunds UltrashortPairCorr
  0.97USPIX Profunds UltrashortPairCorr
  0.95UIPIX Ultrashort Mid CapPairCorr
  0.69BBTBX Bridge Builder EPairCorr
  0.66BBCPX Bridge Builder EPairCorr
  0.51BBTIX Bridge Builder TaxPairCorr
  0.44BBIEX Bridge Builder InterPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Bridge Mutual Fund performing well and Bridge Builder 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 Bridge Builder'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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