Bridge Builder Correlations

BBTBX Fund

USD 8.91 0.01 0.11%

The current 90-days correlation between Bridge Builder E and Bridge Builder E is 0.02 (i.e., Significant 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

Good diversification

The correlation between Bridge Builder E and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bridge Builder E 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 E. 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 bureau of labor statistics.

Moving together with Bridge Mutual Fund

0.97	BBCPX	Bridge Builder E	Pair Corr
0.68	BBIEX	Bridge Builder Inter	Pair Corr
0.65	BBMUX	Bridge Builder Municipal	Pair Corr
0.63	BBTIX	Bridge Builder Tax	Pair Corr
0.97	VBTLX	Vanguard Total Bond	Pair Corr
0.97	VBMFX	Vanguard Total Bond	Pair Corr
0.97	VBTIX	Vanguard Total Bond	Pair Corr
0.97	VTBSX	Vanguard Total Bond	Pair Corr
0.97	VTBIX	Vanguard Total Bond	Pair Corr
0.97	VTBNX	Vanguard Total Bond	Pair Corr
0.97	BFAFX	Bond Fund	Pair Corr
0.97	ABNDX	Bond Fund	Pair Corr
0.97	BFACX	Bond Fund	Pair Corr
0.97	FFBOX	American Funds	Pair Corr

Moving against Bridge Mutual Fund

0.77	BBTLX	Bridge Builder Trust	Pair Corr
0.74	BBGSX	Bridge Builder Smallmid	Pair Corr
0.7	BBVSX	Bridge Builder Smallmid	Pair Corr
0.68	BBGLX	Bridge Builder Large	Pair Corr
0.67	BBTSX	Bridge Builder Trust	Pair Corr
0.65	BBVLX	Bridge Builder Large	Pair Corr
0.85	KNPAX	Kinetics Paradigm Steady Growth	Pair Corr
0.85	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.83	KMKAX	Kinetics Market Oppo Steady Growth	Pair Corr
0.83	LSHCX	Horizon Spin Off Steady Growth	Pair Corr
0.83	KNPYX	Kinetics Paradigm Steady Growth	Pair Corr
0.83	KMKCX	Kinetics Market Oppo Steady Growth	Pair Corr
0.83	KNPCX	Kinetics Paradigm Steady Growth	Pair Corr
0.83	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.79	RQECX	Resq Dynamic Allocation	Pair Corr
0.77	SMPSX	Semiconductor Ultrasector	Pair Corr
0.75	USPRX	Sp 500 Index	Pair Corr
0.74	FXAIX	Fidelity 500 Index	Pair Corr
0.73	AGTHX	Growth Fund	Pair Corr
0.7	LLPFX	Longleaf Partners	Pair Corr
0.69	CMEUX	Six Circles Managed	Pair Corr
0.68	LETRX	Voya Russia Fund	Pair Corr
0.67	SMERX	Invesco Small Cap	Pair Corr
0.64	VSMVX	Vanguard Sp Small	Pair Corr
0.64	VWELX	Vanguard Wellington	Pair Corr

Related Correlations Analysis

	BBCPX	BBGLX	BBGSX	BBIEX	BBMUX	BBMHX	BBTBX	BBTSX	BBTLX	BBTIX
BBCPX		-0.62	-0.69	0.72	0.74	0.53	0.97	-0.61	-0.73	0.67	BBCPX
BBGLX	-0.62		0.97	-0.36	-0.22	0.01	-0.68	0.96	0.87	-0.47	BBGLX
BBGSX	-0.69	0.97		-0.46	-0.27	-0.04	-0.74	0.99	0.89	-0.53	BBGSX
BBIEX	0.72	-0.36	-0.46		0.56	0.41	0.68	-0.35	-0.49	0.9	BBIEX
BBMUX	0.74	-0.22	-0.27	0.56		0.94	0.65	-0.21	-0.28	0.46	BBMUX
BBMHX	0.53	0.01	-0.04	0.41	0.94		0.43	-0.01	0.0	0.29	BBMHX
BBTBX	0.97	-0.68	-0.74	0.68	0.65	0.43		-0.67	-0.77	0.63	BBTBX
BBTSX	-0.61	0.96	0.99	-0.35	-0.21	-0.01	-0.67		0.86	-0.42	BBTSX
BBTLX	-0.73	0.87	0.89	-0.49	-0.28	0.0	-0.77	0.86		-0.53	BBTLX
BBTIX	0.67	-0.47	-0.53	0.9	0.46	0.29	0.63	-0.42	-0.53		BBTIX
	BBCPX	BBGLX	BBGSX	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

BBTSX	+ 0.99	BBGSX
BBTBX	+ 0.97	BBCPX
BBGSX	+ 0.97	BBGLX
BBTSX	+ 0.96	BBGLX
BBMHX	+ 0.94	BBMUX
BBTIX	+ 0.9	BBIEX

High negative correlations

BBTLX	- 0.77	BBTBX
BBTBX	- 0.74	BBGSX
BBTLX	- 0.73	BBCPX
BBGSX	- 0.69	BBCPX
BBTBX	- 0.68	BBGLX
BBTSX	- 0.67	BBTBX

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	(0.04)	0.00	(1.05)	0.00	0.00	0.45	(0.57)	1.37
BBGLX	0.59	(0.02)	(0.04)	0.10	0.80	(0.59)	1.27	(1.72)	4.28
BBGSX	0.76	0.04	0.05	0.16	0.83	(0.84)	1.71	(1.57)	5.03
BBIEX	0.64	(0.12)	0.00	(0.10)	0.00	0.00	1.11	(1.64)	3.86
BBMUX	0.11	(0.01)	(0.45)	(0.20)	0.15	(0.19)	0.30	(0.30)	1.01
BBMHX	0.15	0.00	(0.29)	0.10	0.23	(0.22)	0.40	(0.39)	1.67
BBTBX	0.21	(0.02)	0.00	0.45	0.00	0.00	0.44	(0.56)	1.23
BBTSX	0.71	0.00	0.01	0.12	0.77	(0.77)	1.68	(1.22)	4.99
BBTLX	0.53	0.08	(0.03)	0.61	0.63	(0.56)	1.07	(1.32)	3.92
BBTIX	0.67	(0.09)	0.00	1.36	0.00	0.00	1.44	(1.69)	4.32

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