Bridge Builder Correlations

Mutual Funds . USA . 
Fund . Bridge Builder Tax
BBTIX Fund   11.65  0.01  0.09%   
The current 90-days correlation between Bridge Builder Tax and Allianzgi Convertible Income is 0.53 (i.e., Very weak 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

Weak diversification

The correlation between Bridge Builder Tax and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bridge Builder Tax 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 Tax. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Bridge Mutual Fund

  0.88VGTSX Vanguard Total InterPairCorr
  0.88VTIAX Vanguard Total InterPairCorr
  0.88VTSNX Vanguard Total InterPairCorr
  0.88VTPSX Vanguard Total InterPairCorr
  0.88VTISX Vanguard Total InterPairCorr
  0.88VTMGX Vanguard DevelopedPairCorr
  0.88VDVIX Vanguard DevelopedPairCorr
  0.88VTMNX Vanguard DevelopedPairCorr
  0.88VDIPX Vanguard DevelopedPairCorr
  0.89FSPSX Fidelity InternationalPairCorr
  0.62JNJ Johnson JohnsonPairCorr
  0.71CAT Caterpillar Earnings Call This WeekPairCorr

Moving against Bridge Mutual Fund

  0.61VZ Verizon CommunicationsPairCorr
  0.38DIS Walt Disney Earnings Call This WeekPairCorr

Related Correlations Analysis

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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   
PCNTX
+ 0.96
XNCVX
PCNTX
+ 0.93
VAADX
VAADX
+ 0.92
XNCVX
LCFYX
+ 0.77
VAADX
LCFYX
+ 0.75
PCNTX
LCFYX
+ 0.71
XNCVX
  
High negative correlations   
CCD
- 0.38
XNCVX
CCD
- 0.31
PCNTX
CCD
- 0.19
VAADX
CCD
- 0.01
LCFYX

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.

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