Bridge Builder Correlations

BBMUX Fund

USD 10.02 0.02 0.20%

The current 90-days correlation between Bridge Builder Municipal and Artisan High Income is 0.3 (i.e., Weak 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

Very good diversification

The correlation between Bridge Builder Municipal and DJI is -0.26 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bridge Builder Municipal 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 Municipal. 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 employment.

Moving together with Bridge Mutual Fund

0.71	BBCPX	Bridge Builder E	Pair Corr
0.85	BBMHX	Bridge Builder Trust	Pair Corr
0.7	BBTBX	Bridge Builder E	Pair Corr
0.99	VWITX	Vanguard Intermediate-ter	Pair Corr
0.92	VWIUX	Vanguard Intermediate-ter	Pair Corr
0.99	AFTEX	Tax Exempt Bond	Pair Corr
0.99	AFTFX	Tax Exempt Bond	Pair Corr
0.91	TEBCX	Tax Exempt Bond	Pair Corr
0.99	TEAFX	Tax Exempt Bond	Pair Corr
0.99	TFEBX	Tax Exempt Bond	Pair Corr
0.91	FLTMX	Fidelity Intermediate	Pair Corr
0.98	MDNLX	Blackrock National	Pair Corr
0.98	MFNLX	Blackrock Natl Muni	Pair Corr
0.91	XDSMX	Dreyfus Strategic	Pair Corr
0.86	XNXJX	Nuveen New Jersey	Pair Corr
0.7	NXJ	Nuveen New Jersey	Pair Corr
0.84	XNBHX	Neuberger Berman Int	Pair Corr
0.98	FRPAX	Franklin Pennsylvania	Pair Corr

Moving against Bridge Mutual Fund

0.37	QAISX	Q3 All Weather	Pair Corr
0.34	XNKGX	Nuveen Georgia Quality	Pair Corr

Related Correlations Analysis

	APDFX	GGMPX	PARCX	GMOZX	CBSYX	LBETX
APDFX		0.8	0.78	0.84	0.33	0.85	APDFX
GGMPX	0.8		0.67	0.87	0.59	0.53	GGMPX
PARCX	0.78	0.67		0.85	0.67	0.81	PARCX
GMOZX	0.84	0.87	0.85		0.63	0.77	GMOZX
CBSYX	0.33	0.59	0.67	0.63		0.23	CBSYX
LBETX	0.85	0.53	0.81	0.77	0.23		LBETX
	APDFX	GGMPX	PARCX	GMOZX	CBSYX	LBETX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
APDFX	0.11	0.04	(0.52)	(0.85)	0.00	(0.18)	0.33	(0.22)	0.90
GGMPX	0.12	0.01	(0.42)	3.59	0.00	(0.26)	0.35	(0.18)	1.07
PARCX	0.34	(0.02)	(0.15)	0.08	0.40	(0.36)	0.66	(0.76)	2.10
GMOZX	0.13	0.02	(0.46)	1.61	0.00	(0.18)	0.28	(0.33)	0.72
CBSYX	0.32	(0.01)	(0.20)	0.08	0.36	(0.35)	0.62	(0.67)	1.85
LBETX	0.22	0.04	(0.19)	(3.17)	0.21	(0.26)	0.45	(0.52)	1.42

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