Baird Core Correlations

Mutual Funds . USA . 
Fund . Baird E Intermediate
BMNIX Fund  USD 10.25  0.01  0.1%   
The current 90-days correlation between Baird E Intermediate and Columbia Global Technology is 0.06 (i.e., Significant 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

Average diversification

The correlation between Baird E Intermediate and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baird E 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 E 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

  0.9BAGIX Baird Aggregate BondPairCorr
  0.9BAGSX Baird Aggregate BondPairCorr
  0.85BSBIX Baird Short TermPairCorr
  0.84BSBSX Baird Short TermPairCorr
  0.99BSNIX Baird Strategic MunicipalPairCorr
  0.95BTMSX Baird Short TermPairCorr
  0.77BUBIX Baird Ultra ShortPairCorr
  0.91BCOSX Baird E PlusPairCorr
  0.9BCOIX Baird E PlusPairCorr
  0.79BUBSX Baird Ultra ShortPairCorr
  0.88BIMIX Baird Intermediate BondPairCorr
  1.0BMBSX Baird Quality IntermPairCorr
  1.0BMBIX Baird Quality IntermPairCorr
  0.99BMNSX Baird E IntermediatePairCorr
  0.98BMQIX Baird Municipal BondPairCorr
  0.7CCGIX Chautauqua Global GrowthPairCorr
  0.69CCGSX Chautauqua Global GrowthPairCorr
  0.87CCWIX Chautauqua InternationalPairCorr
  0.87CCWSX Chautauqua InternationalPairCorr
  0.98VWITX Vanguard Intermediate-terPairCorr
  0.98VWIUX Vanguard Intermediate-terPairCorr
  0.95AFTEX Tax Exempt BondPairCorr
  0.95AFTFX Tax Exempt BondPairCorr
  0.92TEBCX Tax Exempt BondPairCorr
  0.95TEAFX Tax Exempt BondPairCorr
  0.96TFEBX Tax Exempt BondPairCorr
  0.98FLTMX Fidelity IntermediatePairCorr
  0.85MDNLX Blackrock NationalPairCorr
  0.8MFNLX Blackrock Natl MuniPairCorr
  0.9NHS Neuberger Berman HighPairCorr
  0.91EMBAX Unconstrained EmergingPairCorr
  0.8ARBOX Absolute ConvertiblePairCorr
  0.86MEERX Massmutual PremierPairCorr

Moving against Baird Mutual Fund

  0.51BSGSX Baird Smallmid CapPairCorr
  0.51BSGIX Baird Smallmid CapPairCorr
  0.41BSVSX Baird Smallcap ValuePairCorr
  0.41BSVIX Baird Smallcap ValuePairCorr
  0.51BMDSX Baird MidcapPairCorr
  0.51BMDIX Baird MidcapPairCorr

Related Correlations Analysis

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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.

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