Bridge Builder Correlations

BBGSX Fund

USD 17.35 0.02 0.12%

The current 90-days correlation between Bridge Builder Smallmid and Bridge Builder E is -0.03 (i.e., Good diversification). The correlation of Bridge Builder 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.

Bridge Builder Correlation With Market

Very poor diversification

The correlation between Bridge Builder Smallmid and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bridge Builder Smallmid 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 Bridge Builder Smallmid. 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 Bridge Mutual Fund

0.96	BBGLX	Bridge Builder Large	Pair Corr
0.99	BBTSX	Bridge Builder Trust	Pair Corr
0.97	BBTLX	Bridge Builder Trust	Pair Corr
0.99	BBVSX	Bridge Builder Smallmid	Pair Corr
0.96	BBVLX	Bridge Builder Large	Pair Corr
0.96	PAMCX	T Rowe Price	Pair Corr
0.96	RRMGX	T Rowe Price	Pair Corr
0.91	TRQZX	T Rowe Price	Pair Corr
0.9	RPMGX	T Rowe Price	Pair Corr
0.94	PRJIX	T Rowe Price	Pair Corr
0.98	PRNHX	T Rowe Price	Pair Corr
0.98	TRUZX	T Rowe Price	Pair Corr
0.98	PCBIX	Midcap Fund Institutional	Pair Corr
0.98	PEMGX	Midcap Fund Class	Pair Corr
0.94	PMBCX	Midcap Fund Class	Pair Corr
0.9	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.9	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.9	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.9	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.84	UTG	Reaves Utility If	Pair Corr
0.86	FRBCX	Regional Bank	Pair Corr
0.97	ASG	Liberty All Star	Pair Corr
0.61	RYBMX	Basic Materials	Pair Corr
0.95	TIGGX	Goldman Sachs Tax	Pair Corr

Moving against Bridge Mutual Fund

0.73	BBTBX	Bridge Builder E	Pair Corr
0.71	BBCPX	Bridge Builder E	Pair Corr
0.56	BBTIX	Bridge Builder Tax	Pair Corr
0.49	BBIEX	Bridge Builder Inter	Pair Corr
0.61	BTMPX	Ishares Msci Eafe	Pair Corr
0.61	MDIIX	Blackrock Intern Index	Pair Corr
0.6	BTMKX	Blackrock International	Pair Corr

Related Correlations Analysis

	BBCPX	BBGLX	BBIEX	BBMUX	BBMHX	BBTBX	BBTSX	BBTLX	BBTIX
BBCPX		-0.67	0.7	0.74	0.54	1.0	-0.64	-0.74	0.68	BBCPX
BBGLX	-0.67		-0.4	-0.26	-0.03	-0.69	0.95	0.99	-0.48	BBGLX
BBIEX	0.7	-0.4		0.52	0.36	0.68	-0.39	-0.46	0.98	BBIEX
BBMUX	0.74	-0.26	0.52		0.85	0.72	-0.23	-0.3	0.45	BBMUX
BBMHX	0.54	-0.03	0.36	0.85		0.53	0.0	-0.05	0.26	BBMHX
BBTBX	1.0	-0.69	0.68	0.72	0.53		-0.66	-0.75	0.67	BBTBX
BBTSX	-0.64	0.95	-0.39	-0.23	0.0	-0.66		0.96	-0.45	BBTSX
BBTLX	-0.74	0.99	-0.46	-0.3	-0.05	-0.75	0.96		-0.54	BBTLX
BBTIX	0.68	-0.48	0.98	0.45	0.26	0.67	-0.45	-0.54		BBTIX
	BBCPX	BBGLX	BBIEX	BBMUX	BBMHX	BBTBX	BBTSX	BBTLX	BBTIX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

BBTBX	+ 1.0	BBCPX
BBTLX	+ 0.99	BBGLX
BBTIX	+ 0.98	BBIEX
BBTLX	+ 0.96	BBTSX
BBTSX	+ 0.95	BBGLX
BBMHX	+ 0.85	BBMUX

High negative correlations

BBTLX	- 0.75	BBTBX
BBTLX	- 0.74	BBCPX
BBTBX	- 0.69	BBGLX
BBGLX	- 0.67	BBCPX
BBTSX	- 0.66	BBTBX
BBTSX	- 0.64	BBCPX

Risk-Adjusted Indicators

There is a big difference between Bridge Mutual Fund performing well and Bridge Builder 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 Bridge Builder'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
BBCPX	0.22	(0.02)	0.00	0.74	0.00	0.00	0.45	(0.57)	1.37
BBGLX	0.58	(0.02)	(0.05)	0.09	0.81	(0.57)	1.27	(1.72)	4.28
BBIEX	0.63	(0.13)	0.00	(0.14)	0.00	0.00	0.97	(1.64)	3.86
BBMUX	0.11	0.00	(0.41)	0.06	0.14	(0.19)	0.30	(0.30)	1.01
BBMHX	0.16	0.00	(0.28)	0.34	0.22	(0.22)	0.40	(0.39)	1.67
BBTBX	0.21	(0.02)	0.00	0.41	0.00	0.00	0.44	(0.56)	1.23
BBTSX	0.69	(0.01)	0.00	0.11	0.78	(0.75)	1.52	(1.22)	4.99
BBTLX	0.52	0.01	(0.02)	0.13	0.63	(0.54)	1.07	(1.32)	3.92
BBTIX	0.65	(0.16)	0.00	(0.21)	0.00	0.00	1.01	(1.69)	4.32

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