Baird Core Correlations

Mutual Funds . USA . 
Fund . Baird E Intermediate
BMNSX Fund  USD 10.24  0.02  0.19%   
The current 90-days correlation between Baird E Intermediate and Baird Short Term Municipal is 0.82 (i.e., Very poor 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 0.16 (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 state.

Moving together with Baird Mutual Fund

  0.9BAGIX Baird Aggregate BondPairCorr
  0.89BAGSX Baird Aggregate BondPairCorr
  0.82BSBIX Baird Short TermPairCorr
  0.82BSBSX Baird Short TermPairCorr
  0.99BSNIX Baird Strategic MunicipalPairCorr
  0.93BTMSX Baird Short TermPairCorr
  0.73BUBIX Baird Ultra ShortPairCorr
  0.9BCOSX Baird E PlusPairCorr
  0.9BCOIX Baird E PlusPairCorr
  0.75BUBSX Baird Ultra ShortPairCorr
  0.87BIMIX Baird Intermediate BondPairCorr
  1.0BMBSX Baird Quality IntermPairCorr
  1.0BMBIX Baird Quality IntermPairCorr
  0.99BMNIX Baird E IntermediatePairCorr
  0.99BMQIX Baird Municipal BondPairCorr
  0.69CCGIX Chautauqua Global GrowthPairCorr
  0.69CCGSX Chautauqua Global GrowthPairCorr
  0.85CCWIX Chautauqua InternationalPairCorr
  0.85CCWSX Chautauqua InternationalPairCorr
  0.98VWITX Vanguard Intermediate-terPairCorr
  0.98VWIUX Vanguard Intermediate-terPairCorr
  0.96AFTEX Tax Exempt BondPairCorr
  0.96AFTFX Tax Exempt BondPairCorr
  0.93TEBCX Tax Exempt BondPairCorr
  0.96TEAFX Tax Exempt BondPairCorr
  0.97TFEBX Tax Exempt BondPairCorr
  0.98FLTMX Fidelity IntermediatePairCorr
  0.88MDNLX Blackrock NationalPairCorr
  0.83MFNLX Blackrock Natl MuniPairCorr
  0.88NHS Neuberger Berman HighPairCorr
  0.89EMBAX Unconstrained EmergingPairCorr
  0.77ARBOX Absolute ConvertiblePairCorr
  0.83MEERX Massmutual PremierPairCorr

Moving against Baird Mutual Fund

  0.5BSGSX Baird Smallmid CapPairCorr
  0.5BSGIX Baird Smallmid CapPairCorr
  0.4BSVSX Baird Smallcap ValuePairCorr
  0.4BSVIX Baird Smallcap ValuePairCorr
  0.49BMDSX Baird MidcapPairCorr
  0.49BMDIX 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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