Baird Strategic Correlations

Mutual Funds . USA . 
Fund . Baird Strategic Municipal
BSNSX Fund  USD 10.25  0.01  0.1%   
The current 90-days correlation between Baird Strategic Municipal and Rmb Mendon Financial is -0.02 (i.e., Good diversification). The correlation of Baird Strategic 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 Strategic Correlation With Market

Good diversification

The correlation between Baird Strategic Municipal and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baird Strategic Municipal 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 Strategic Municipal. 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

  0.7BAGIX Baird Aggregate BondPairCorr
  0.69BAGSX Baird Aggregate BondPairCorr
  0.86BSBIX Baird Short TermPairCorr
  0.85BSBSX Baird Short TermPairCorr
  0.99BSNIX Baird Strategic MunicipalPairCorr
  0.93BTMSX Baird Short TermPairCorr
  0.8BUBIX Baird Ultra ShortPairCorr
  0.74BCOSX Baird E PlusPairCorr
  0.73BCOIX Baird E PlusPairCorr
  0.68BIMIX Baird Intermediate BondPairCorr
  0.94BMBSX Baird Quality IntermPairCorr
  1.0BMNIX Baird E IntermediatePairCorr
  0.93BMQIX Baird Municipal BondPairCorr
  0.74CCWIX Chautauqua InternationalPairCorr
  0.74CCWSX Chautauqua InternationalPairCorr
  0.92VWITX Vanguard Intermediate-terPairCorr
  0.92VWIUX Vanguard Intermediate-terPairCorr
  0.88AFTEX Tax Exempt BondPairCorr
  0.87AFTFX Tax Exempt BondPairCorr
  0.83TEBCX Tax Exempt BondPairCorr
  0.88TEAFX Tax Exempt BondPairCorr
  0.88TFEBX Tax Exempt BondPairCorr
  0.94FLTMX Fidelity IntermediatePairCorr
  0.8MDNLX Blackrock NationalPairCorr
  0.74MFNLX Blackrock Natl MuniPairCorr
  0.73NHS Neuberger Berman HighPairCorr
  0.82EMBAX Unconstrained EmergingPairCorr
  0.72MEERX Massmutual PremierPairCorr
  0.61ABNOX Ab Bond InflationPairCorr
  0.62HTD John Hancock TaxPairCorr
  0.9TIMUX Transamerica IntermediatePairCorr

Moving against Baird Mutual Fund

  0.55BMDSX Baird MidcapPairCorr
  0.53BSGSX Baird Smallmid CapPairCorr
  0.43BSVSX Baird Smallcap ValuePairCorr
  0.43BSVIX Baird Smallcap ValuePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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