Baird Quality Correlations

Mutual Funds . USA . 
Fund . Baird Quality Intermediate
BMBSX Fund  USD 11.26  0.04  0.35%   
The current 90-days correlation between Baird Quality Interm and Schwab Tax Free Bond is 0.71 (i.e., Poor 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 0.11 (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 state.

Moving together with Baird Mutual Fund

  0.63BAGIX Baird Aggregate BondPairCorr
  0.62BAGSX Baird Aggregate BondPairCorr
  0.95BSNIX Baird Strategic MunicipalPairCorr
  0.74BTMSX Baird Short TermPairCorr
  0.71BCOSX Baird E PlusPairCorr
  0.7BCOIX Baird E PlusPairCorr
  0.63BIMIX Baird Intermediate BondPairCorr
  0.97BMBIX Baird Quality IntermPairCorr
  0.91BMNSX Baird E IntermediatePairCorr
  0.97BMNIX Baird E IntermediatePairCorr
  0.93BMQIX Baird Municipal BondPairCorr
  0.63CCGIX Chautauqua Global GrowthPairCorr
  0.66CCGSX Chautauqua Global GrowthPairCorr
  0.72CCWIX Chautauqua InternationalPairCorr
  0.72CCWSX Chautauqua InternationalPairCorr
  0.98VWITX Vanguard Intermediate-terPairCorr
  0.98VWIUX Vanguard Intermediate-terPairCorr
  0.95AFTEX Tax Exempt BondPairCorr
  0.95AFTFX Tax Exempt BondPairCorr
  0.93TEBCX Tax Exempt BondPairCorr
  0.95TEAFX Tax Exempt BondPairCorr
  0.95TFEBX Tax Exempt BondPairCorr
  0.91FLTMX Fidelity IntermediatePairCorr
  0.89MDNLX Blackrock NationalPairCorr
  0.85MFNLX Blackrock Natl MuniPairCorr
  0.86NHS Neuberger Berman HighPairCorr
  0.88EMBAX Unconstrained EmergingPairCorr
  0.74ARBOX Absolute ConvertiblePairCorr
  0.82MEERX Massmutual PremierPairCorr

Moving against Baird Mutual Fund

  0.39BSGSX Baird Smallmid CapPairCorr
  0.31BSVIX Baird Smallcap ValuePairCorr
  0.32BMDIX Baird MidcapPairCorr

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 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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