Bridge Builder Correlations

BBTBX Fund

USD 9.00 0.01 0.11%

The current 90-days correlation between Bridge Builder E and Metropolitan West High is 0.66 (i.e., Poor 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

Average diversification

The correlation between Bridge Builder E and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bridge Builder E 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 E. 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 labor statistics.

Moving together with Bridge Mutual Fund

1.0	BBCPX	Bridge Builder E	Pair Corr
0.89	BBIEX	Bridge Builder Inter	Pair Corr
0.87	BBMUX	Bridge Builder Municipal	Pair Corr
0.86	BBMHX	Bridge Builder Trust	Pair Corr
0.87	BBTIX	Bridge Builder Tax	Pair Corr
0.96	VBTLX	Vanguard Total Bond	Pair Corr
1.0	VBMFX	Vanguard Total Bond	Pair Corr
1.0	VBTIX	Vanguard Total Bond	Pair Corr
1.0	VTBSX	Vanguard Total Bond	Pair Corr
1.0	VTBIX	Vanguard Total Bond	Pair Corr
1.0	VTBNX	Vanguard Total Bond	Pair Corr
1.0	FBOFX	American Funds	Pair Corr
1.0	FFBOX	American Funds	Pair Corr
1.0	BFAFX	Bond Fund	Pair Corr
1.0	ABNDX	Bond Fund	Pair Corr
0.92	NERIX	Neuberger Berman Emerging	Pair Corr
0.61	GGRPX	Goldman Sachs Modity	Pair Corr
0.65	RERAX	Europacific Growth	Pair Corr
0.69	NBHEX	Neuberger Berman Equity	Pair Corr
1.0	BMOAX	Blackrock Bond Index	Pair Corr
1.0	GIBLX	Guggenheim Total Return	Pair Corr
0.82	DRIRX	Dimensional 2020 Target	Pair Corr
0.61	IQRIX	Acr International Quality	Pair Corr

Moving against Bridge Mutual Fund

0.64	BBGSX	Bridge Builder Smallmid	Pair Corr
0.58	BBTSX	Bridge Builder Trust	Pair Corr
0.49	BBGLX	Bridge Builder Large	Pair Corr
0.45	BBVSX	Bridge Builder Smallmid	Pair Corr
0.43	BBTLX	Bridge Builder Trust	Pair Corr

Related Correlations Analysis

	MWHIX	TBHDX	BXHCX	AQRRX	ARTFX	GUCPX	NWJVX	PHDTX
MWHIX		0.79	0.92	0.78	0.93	0.88	0.93	0.94	MWHIX
TBHDX	0.79		0.62	0.48	0.67	0.9	0.88	0.8	TBHDX
BXHCX	0.92	0.62		0.87	0.98	0.75	0.8	0.94	BXHCX
AQRRX	0.78	0.48	0.87		0.85	0.51	0.63	0.85	AQRRX
ARTFX	0.93	0.67	0.98	0.85		0.79	0.84	0.94	ARTFX
GUCPX	0.88	0.9	0.75	0.51	0.79		0.95	0.85	GUCPX
NWJVX	0.93	0.88	0.8	0.63	0.84	0.95		0.89	NWJVX
PHDTX	0.94	0.8	0.94	0.85	0.94	0.85	0.89		PHDTX
	MWHIX	TBHDX	BXHCX	AQRRX	ARTFX	GUCPX	NWJVX	PHDTX

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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
MWHIX	0.12	0.00	0.35	(0.02)	0.09	(0.21)	0.54	(0.32)	0.87
TBHDX	0.55	0.12	0.24	0.28	0.54	(0.66)	1.29	(1.26)	4.47
BXHCX	0.13	(0.01)	0.26	0.19	0.16	(0.19)	0.37	(0.37)	1.00
AQRRX	0.51	0.00	0.11	(0.13)	0.66	(0.53)	1.02	(1.08)	3.50
ARTFX	0.13	(0.01)	0.35	0.12	0.12	(0.20)	0.44	(0.22)	0.89
GUCPX	0.17	0.02	0.51	(0.44)	0.00	(0.21)	0.40	(0.30)	1.09
NWJVX	0.08	0.01	0.68	0.92	0.00	(0.14)	0.20	(0.10)	0.61
PHDTX	0.11	0.00	0.32	(0.17)	0.10	(0.15)	0.22	(0.23)	0.79

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