Bridge Builder Correlations

Mutual Funds . USA . 
Fund . Bridge Builder Tax
BBTIX Fund   12.12  0.08  0.66%   
The current 90-days correlation between Bridge Builder Tax and Voya Solution Conservative is 0.71 (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

Very weak diversification

The correlation between Bridge Builder Tax and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bridge Builder Tax 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 Tax. 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 Bridge Mutual Fund

  0.9BBCPX Bridge Builder EPairCorr
  0.98BBIEX Bridge Builder InterPairCorr
  0.78BBMUX Bridge Builder MunicipalPairCorr
  0.99VGTSX Vanguard Total InterPairCorr
  0.99VTIAX Vanguard Total InterPairCorr
  0.99VTSNX Vanguard Total InterPairCorr
  0.99VTPSX Vanguard Total InterPairCorr
  0.99VTISX Vanguard Total InterPairCorr
  1.0VTMGX Vanguard DevelopedPairCorr
  1.0VDVIX Vanguard DevelopedPairCorr
  1.0VTMNX Vanguard DevelopedPairCorr
  1.0VDIPX Vanguard DevelopedPairCorr
  1.0FSPSX Fidelity InternationalPairCorr
  0.92TREMX T Rowe PricePairCorr
  0.97BISMX Brandes InternationalPairCorr
  0.66RNCIX Rivernorth E OpportunityPairCorr
  0.9VSGDX Vanguard Short TermPairCorr
  0.9GF New Germany ClosedPairCorr
  0.79RXRPX American Funds RetirementPairCorr
  0.92GIOIX Guggenheim Macro OppPairCorr
  0.82USGDX Morgan Stanley GovernmentPairCorr
  0.97EMBAX Unconstrained EmergingPairCorr
  0.9HTD John Hancock TaxPairCorr
  0.92DBIWX Dws Global MacroPairCorr
  0.87DLDFX Destinations Low DurationPairCorr
  0.65EBSIX Campbell Systematic MacroPairCorr
  0.89SGDLX Sprott Gold EquityPairCorr

Moving against Bridge Mutual Fund

  0.72SMPIX Semiconductor UltrasectorPairCorr
  0.72SMPSX Semiconductor UltrasectorPairCorr
  0.53BBGSX Bridge Builder SmallmidPairCorr
  0.43BBGLX Bridge Builder LargePairCorr
  0.43BBVSX Bridge Builder SmallmidPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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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