Baird Short-term Correlations

Mutual Funds . USA . 
Fund . Baird Short Term Bond
BSBSX Fund  USD 9.52  0.01  0.10%   
The current 90-days correlation between Baird Short Term and Baird Aggregate Bond is 0.11 (i.e., Average diversification). The correlation of Baird Short-term 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 Short-term Correlation With Market

Modest diversification

The correlation between Baird Short Term Bond and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baird Short Term 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 Short Term 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 state.

Moving together with Baird Mutual Fund

  0.83BAGIX Baird Aggregate BondPairCorr
  0.83BAGSX Baird Aggregate BondPairCorr
  0.73BSBIX Baird Short TermPairCorr
  0.82BSNSX Baird Strategic MunicipalPairCorr
  0.83BSNIX Baird Strategic MunicipalPairCorr
  0.96BTMSX Baird Short TermPairCorr
  0.88BTMIX Baird Short TermPairCorr
  0.89BUBIX Baird Ultra ShortPairCorr
  0.83BCOSX Baird E PlusPairCorr
  0.82BCOIX Baird E PlusPairCorr
  0.89BUBSX Baird Ultra ShortPairCorr
  0.92BIMSX Baird Intermediate BondPairCorr
  0.8BIMIX Baird Intermediate BondPairCorr
  0.68BMBSX Baird Quality IntermPairCorr
  0.7BMBIX Baird Quality IntermPairCorr
  0.69BMNSX Baird E IntermediatePairCorr
  0.84BMNIX Baird E IntermediatePairCorr
  0.73BMQSX Baird Municipal BondPairCorr
  0.74BMQIX Baird Municipal BondPairCorr
  0.65CCWIX Chautauqua InternationalPairCorr
  0.65CCWSX Chautauqua InternationalPairCorr
  0.74VBIRX Vanguard Short TermPairCorr
  0.72VFSUX Vanguard Short TermPairCorr
  0.76VFSIX Vanguard Short TermPairCorr
  0.74VFSTX Vanguard Short TermPairCorr
  0.76VBITX Vanguard Short TermPairCorr
  0.76VBISX Vanguard Short TermPairCorr
  0.65LALDX Lord Abbett ShortPairCorr
  0.76VSCSX Vanguard Short TermPairCorr
  0.72LDLAX Lord Abbett ShortPairCorr
  0.73LDLRX Lord Abbett ShortPairCorr

Moving against Baird Mutual Fund

  0.8BSGSX Baird Smallmid CapPairCorr
  0.74BSVSX Baird Smallcap ValuePairCorr
  0.67BSVIX Baird Smallcap ValuePairCorr
  0.66BSGIX Baird Smallmid CapPairCorr
  0.64BMDSX Baird MidcapPairCorr
  0.64BMDIX Baird MidcapPairCorr
  0.56GCAVX Gmo Small CapPairCorr
  0.53GMCQX Gmo Equity AllocationPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Baird Mutual Fund performing well and Baird Short-term 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 Short-term'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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