Baird Core Correlations

Mutual Funds . USA . 
Fund . Baird E Plus
BCOIX Fund  USD 10.18  0.01  0.1%   
The current 90-days correlation between Baird E Plus and Metropolitan West Total is 0.95 (i.e., Almost no diversification). The correlation of Baird Core 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.

Baird Core Correlation With Market

Good diversification

The correlation between Baird E Plus and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baird E Plus 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 Baird E Plus. 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 Baird Mutual Fund

  1.0BAGIX Baird Aggregate BondPairCorr
  1.0BAGSX Baird Aggregate BondPairCorr
  0.63BSBIX Baird Short TermPairCorr
  0.63BSBSX Baird Short TermPairCorr
  0.67BSNSX Baird Strategic MunicipalPairCorr
  0.66BSNIX Baird Strategic MunicipalPairCorr
  1.0BCOSX Baird E PlusPairCorr
  0.99BIMSX Baird Intermediate BondPairCorr
  0.99BIMIX Baird Intermediate BondPairCorr
  0.85BMBSX Baird Quality IntermPairCorr
  0.85BMBIX Baird Quality IntermPairCorr
  0.7BMNSX Baird E IntermediatePairCorr
  0.71BMNIX Baird E IntermediatePairCorr
  0.73BMQSX Baird Municipal BondPairCorr
  0.73BMQIX Baird Municipal BondPairCorr
  0.99MWTNX Metropolitan West TotalPairCorr
  0.99MWTSX Metropolitan West TotalPairCorr
  0.99PTTPX Pimco Total ReturnPairCorr
  0.99PTRRX Total ReturnPairCorr
  0.99PTRAX Total ReturnPairCorr
  0.99PTTRX Total ReturnPairCorr
  0.99FIWGX Strategic AdvisersPairCorr
  1.0DODIX Dodge IncomePairCorr
  0.99MWTIX Metropolitan West TotalPairCorr
  0.99MWTRX Metropolitan West TotalPairCorr

Moving against Baird Mutual Fund

  0.75BUBIX Baird Ultra ShortPairCorr
  0.73BUBSX Baird Ultra ShortPairCorr
  0.72BSVSX Baird Smallcap ValuePairCorr
  0.72BSVIX Baird Smallcap ValuePairCorr
  0.67BSGIX Baird Smallmid CapPairCorr
  0.66BSGSX Baird Smallmid CapPairCorr
  0.56BMDSX Baird MidcapPairCorr
  0.56BMDIX Baird MidcapPairCorr
  0.41CCGIX Chautauqua Global GrowthPairCorr
  0.4CCGSX Chautauqua Global GrowthPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Baird Mutual Fund performing well and Baird Core 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 Baird Core'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
MWTNX  0.24 (0.02) 0.00  0.52  0.00 
 0.00 
 0.44 
(0.77)
 1.55 
MWTSX  0.26 (0.02) 0.00  0.42  0.00 
 0.00 
 0.48 
(0.70)
 1.66 
PTTPX  0.22 (0.02) 0.00  0.50  0.00 
 0.00 
 0.35 
(0.58)
 1.40 
PTRRX  0.22 (0.02) 0.00  0.53  0.00 
 0.00 
 0.35 
(0.58)
 1.40 
PTRAX  0.22 (0.02) 0.00  0.53  0.00 
 0.00 
 0.35 
(0.58)
 1.40 
PTTRX  0.23 (0.01) 0.00  0.45  0.00 
 0.00 
 0.35 
(0.58)
 1.40 
FIWGX  0.23 (0.01) 0.00  0.20  0.00 
 0.00 
 0.55 
(0.65)
 1.53 
DODIX  0.24 (0.02) 0.00  0.46  0.00 
 0.00 
 0.47 
(0.63)
 1.43 
MWTIX  0.24 (0.02) 0.00  0.49  0.00 
 0.00 
 0.45 
(0.77)
 1.56 
MWTRX  0.26 (0.02) 0.00  0.50  0.00 
 0.00 
 0.45 
(0.77)
 1.56 

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