Baird Quality Correlations

Mutual Funds . USA . 
Fund . Baird Quality Intermediate
BMBIX Fund  USD 11.08  0.02  0.18%   
The current 90-days correlation between Baird Quality Interm and Victory Incore Investment is 0.4 (i.e., Very weak diversification). The correlation of Baird Quality 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 Quality Correlation With Market

Average diversification

The correlation between Baird Quality Intermediate and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baird Quality Intermediate 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 Quality Intermediate. 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

  0.93BAGIX Baird Aggregate BondPairCorr
  0.93BAGSX Baird Aggregate BondPairCorr
  1.0BSNSX Baird Strategic MunicipalPairCorr
  0.98BSNIX Baird Strategic MunicipalPairCorr
  0.85BTMSX Baird Short TermPairCorr
  0.83BTMIX Baird Short TermPairCorr
  0.94BCOSX Baird E PlusPairCorr
  0.93BCOIX Baird E PlusPairCorr
  0.89BIMSX Baird Intermediate BondPairCorr
  0.87BIMIX Baird Intermediate BondPairCorr
  0.99BMBSX Baird Quality IntermPairCorr
  0.99BMNSX Baird E IntermediatePairCorr
  0.99BMNIX Baird E IntermediatePairCorr
  0.95BMQSX Baird Municipal BondPairCorr
  0.97BMQIX Baird Municipal BondPairCorr
  0.88CCGIX Chautauqua Global GrowthPairCorr
  0.88CCGSX Chautauqua Global GrowthPairCorr
  0.79CCWIX Chautauqua InternationalPairCorr
  0.79CCWSX Chautauqua InternationalPairCorr
  0.95VWITX Vanguard Intermediate-terPairCorr
  0.98VWIUX Vanguard IntermediatePairCorr
  0.9AFTEX Tax Exempt BondPairCorr
  0.95AFTFX Tax Exempt BondPairCorr
  0.91TEBCX Tax Exempt BondPairCorr
  0.95TEAFX Tax Exempt BondPairCorr
  0.96TFEBX Tax Exempt BondPairCorr
  0.97FLTMX Fidelity IntermediatePairCorr
  0.9MDNLX Blackrock NationalPairCorr
  0.85MFNLX Blackrock Natl MuniPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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