Baird Intermediate Correlations

Mutual Funds . USA . 
Fund . Baird Intermediate Bond
BIMIX Fund  USD 10.41  0.01  0.1%   
The current 90-days correlation between Baird Intermediate Bond and Franklin Mutual Global is -0.03 (i.e., Good diversification). The correlation of Baird Intermediate 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 Intermediate Correlation With Market

Significant diversification

The correlation between Baird Intermediate Bond and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baird Intermediate Bond 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 Intermediate Bond. 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

  0.99BAGIX Baird Aggregate BondPairCorr
  0.99BAGSX Baird Aggregate BondPairCorr
  0.98BSBIX Baird Short TermPairCorr
  0.91BSBSX Baird Short TermPairCorr
  0.79BSNSX Baird Strategic MunicipalPairCorr
  0.88BSNIX Baird Strategic MunicipalPairCorr
  0.95BTMSX Baird Short TermPairCorr
  0.95BUBIX Baird Ultra ShortPairCorr
  0.99BCOSX Baird E PlusPairCorr
  0.99BCOIX Baird E PlusPairCorr
  0.95BUBSX Baird Ultra ShortPairCorr
  0.62BMBSX Baird Quality IntermPairCorr
  0.86BMBIX Baird Quality IntermPairCorr
  0.81BMNSX Baird E IntermediatePairCorr
  0.85BMNIX Baird E IntermediatePairCorr
  0.79BMQSX Baird Municipal BondPairCorr
  0.75CCWIX Chautauqua InternationalPairCorr
  0.75CCWSX Chautauqua InternationalPairCorr
  0.91VBTLX Vanguard Total BondPairCorr
  0.92VBMFX Vanguard Total BondPairCorr
  0.99VBTIX Vanguard Total BondPairCorr
  0.99VTBSX Vanguard Total BondPairCorr
  0.99VTBIX Vanguard Total BondPairCorr
  0.99VTBNX Vanguard Total BondPairCorr
  0.99FBOFX American FundsPairCorr
  0.99FFBOX American FundsPairCorr
  0.99BFAFX Bond FundPairCorr
  0.99ABNDX Bond FundPairCorr
  0.77PFN Pimco Income StrategyPairCorr

Moving against Baird Mutual Fund

  0.8BSGSX Baird Smallmid CapPairCorr
  0.8BSGIX Baird Smallmid CapPairCorr
  0.8BMDSX Baird MidcapPairCorr
  0.8BMDIX Baird MidcapPairCorr
  0.73BSVSX Baird Smallcap ValuePairCorr
  0.73BSVIX Baird Smallcap ValuePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Baird Mutual Fund performing well and Baird Intermediate 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 Intermediate'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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