Bridge Builder Correlations

BBVSX Fund

USD 13.89 0.27 1.98%

The current 90-days correlation between Bridge Builder Smallmid and Fidelity Advisor Financial is 0.85 (i.e., Very 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

Poor diversification

The correlation between Bridge Builder Smallmid and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bridge Builder Smallmid 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 Smallmid. 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 Bridge Mutual Fund

0.89	BBGLX	Bridge Builder Large	Pair Corr
0.89	BBGSX	Bridge Builder Smallmid	Pair Corr
0.9	BBTSX	Bridge Builder Trust	Pair Corr
0.81	BBTLX	Bridge Builder Trust	Pair Corr
0.82	BBVLX	Bridge Builder Large	Pair Corr
0.72	FLPKX	Fidelity Low Priced	Pair Corr
0.72	FLPSX	Fidelity Low Priced	Pair Corr
0.7	VMVAX	Vanguard Mid Cap	Pair Corr
0.95	JVMAX	John Hancock Disciplined	Pair Corr
0.96	JVMIX	John Hancock Disciplined	Pair Corr
0.71	VMVIX	Vanguard Mid Cap	Pair Corr
0.84	JMVZX	Jpmorgan Mid Cap	Pair Corr
0.83	JMVRX	Jpmorgan Mid Cap	Pair Corr
0.83	JMVQX	Jpmorgan Mid Cap	Pair Corr
0.83	JMVYX	Jpmorgan Mid Cap	Pair Corr
0.68	SMPIX	Semiconductor Ultrasector	Pair Corr
0.75	CISGX	Touchstone Sands Capital	Pair Corr
0.67	SMPSX	Semiconductor Ultrasector	Pair Corr

Moving against Bridge Mutual Fund

0.54	BBTBX	Bridge Builder E	Pair Corr
0.52	BBCPX	Bridge Builder E	Pair Corr
0.46	BBTIX	Bridge Builder Tax	Pair Corr
0.41	BBIEX	Bridge Builder Inter	Pair Corr
0.49	SWISX	Schwab International	Pair Corr
0.49	FIAIX	Fidelity Advisor Sus	Pair Corr
0.41	PDSQX	Prudential Short Duration	Pair Corr
0.41	CMBZX	Columbia Emerging Markets	Pair Corr
0.31	FAEDX	Faedx	Pair Corr

Related Correlations Analysis

	FIKBX	FTIXX	MCBXX	ICFAX	FNPIX	VFAIX	XFINX
FIKBX		0.0	0.0	0.88	0.91	0.93	0.64	FIKBX
FTIXX	0.0		0.0	0.0	0.0	0.0	0.0	FTIXX
MCBXX	0.0	0.0		0.0	0.0	0.0	0.0	MCBXX
ICFAX	0.88	0.0	0.0		0.75	0.78	0.44	ICFAX
FNPIX	0.91	0.0	0.0	0.75		0.99	0.64	FNPIX
VFAIX	0.93	0.0	0.0	0.78	0.99		0.66	VFAIX
XFINX	0.64	0.0	0.0	0.44	0.64	0.66		XFINX
	FIKBX	FTIXX	MCBXX	ICFAX	FNPIX	VFAIX	XFINX

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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

VFAIX	+ 0.99	FNPIX
VFAIX	+ 0.93	FIKBX
FNPIX	+ 0.91	FIKBX
ICFAX	+ 0.88	FIKBX
VFAIX	+ 0.78	ICFAX
FNPIX	+ 0.75	ICFAX

High negative correlations

XFINX	- 0.0	MCBXX
VFAIX	- 0.0	MCBXX
FNPIX	- 0.0	MCBXX
ICFAX	- 0.0	MCBXX
XFINX	- 0.0	FTIXX
VFAIX	- 0.0	FTIXX

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
FIKBX	0.91	(0.03)	0.00	(0.07)	0.00	0.00	1.73	(2.69)	6.29
FTIXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MCBXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ICFAX	0.83	(0.04)	0.00	(0.08)	0.00	0.00	1.32	(2.10)	3.93
FNPIX	1.27	0.06	0.02	0.01	1.87	(1.25)	2.66	(3.48)	9.08
VFAIX	0.86	0.04	0.03	0.00	1.31	(0.84)	1.99	(2.51)	6.10
XFINX	0.14	(0.02)	0.00	0.36	0.00	0.00	0.28	(0.64)	1.27

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