Baird Smallcap Correlations

Mutual Funds . USA . 
Fund . Baird Smallcap Value
BSVIX Fund  USD 15.42  0.39  2.59%   
The current 90-days correlation between Baird Smallcap Value and Oppenheimer International Diversified is 0.36 (i.e., Weak diversification). The correlation of Baird Smallcap 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 Smallcap Correlation With Market

Poor diversification

The correlation between Baird Smallcap Value and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baird Smallcap Value 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 Smallcap Value. 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

  0.94BSGSX Baird Smallmid CapPairCorr
  0.94BSGIX Baird Smallmid CapPairCorr
  0.95BSVSX Baird Smallcap ValuePairCorr
  0.93BMDSX Baird MidcapPairCorr
  0.93BMDIX Baird MidcapPairCorr
  0.94VSGAX Vanguard Small CapPairCorr
  0.94VSGIX Vanguard Small CapPairCorr
  0.94VISGX Vanguard Small CapPairCorr
  0.89VEXPX Vanguard ExplorerPairCorr
  0.89VEXRX Vanguard ExplorerPairCorr
  0.94JGMIX Janus TritonPairCorr
  0.94JGMRX Janus TritonPairCorr
  0.94JGMAX Janus TritonPairCorr
  0.94JGMCX Janus TritonPairCorr
  0.97JGMNX Janus TritonPairCorr

Moving against Baird Mutual Fund

  0.73BUBIX Baird Ultra ShortPairCorr
  0.73BUBSX Baird Ultra ShortPairCorr
  0.7BSBIX Baird Short TermPairCorr
  0.67BSBSX Baird Short TermPairCorr
  0.67BIMIX Baird Intermediate BondPairCorr
  0.64BAGSX Baird Aggregate BondPairCorr
  0.63BAGIX Baird Aggregate BondPairCorr
  0.62BCOSX Baird E PlusPairCorr
  0.62BCOIX Baird E PlusPairCorr
  0.6BIMSX Baird Intermediate BondPairCorr
  0.58BTMIX Baird Short TermPairCorr
  0.52BTMSX Baird Short TermPairCorr
  0.45BSNIX Baird Strategic MunicipalPairCorr
  0.44BSNSX Baird Strategic MunicipalPairCorr
  0.43BMBIX Baird Quality IntermPairCorr
  0.36BMQIX Baird Municipal BondPairCorr
  0.34BMNIX Baird E IntermediatePairCorr
  0.33BMNSX Baird E IntermediatePairCorr
  0.32BMBSX Baird Quality IntermPairCorr
  0.98UIPIX Ultrashort Mid CapPairCorr
  0.92USPSX Profunds UltrashortPairCorr
  0.92USPIX Profunds UltrashortPairCorr
  0.68TIKPX Tiaa-cref Inflation-linkedPairCorr
  0.57FTCAX Templeton Strained BondPairCorr
  0.53PDI Pimco Dynamic Income Sell-off TrendPairCorr
  0.34TSSIX Thornburg StrategicPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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