Bridge Builder Correlations

BBVSX Fund

USD 14.71 0.14 0.94%

The current 90-days correlation between Bridge Builder Smallmid and Blackrock Science Technology is 0.34 (i.e., 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

Very weak diversification

The correlation between Bridge Builder Smallmid and DJI is 0.48 (i.e., Very weak 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

0.73	BBCPX	Bridge Builder E	Pair Corr
0.93	BBGLX	Bridge Builder Large	Pair Corr
0.69	BBGSX	Bridge Builder Smallmid	Pair Corr
0.81	BBIEX	Bridge Builder Inter	Pair Corr
0.9	BBTSX	Bridge Builder Trust	Pair Corr
1.0	BBVLX	Bridge Builder Large	Pair Corr
0.89	FLPKX	Fidelity Low Priced	Pair Corr
0.89	FLPSX	Fidelity Low Priced	Pair Corr
0.9	VMVAX	Vanguard Mid Cap	Pair Corr
0.99	JVMAX	John Hancock Disciplined	Pair Corr
0.99	JVMIX	John Hancock Disciplined	Pair Corr
0.9	VMVIX	Vanguard Mid Cap	Pair Corr
0.91	JMVZX	Jpmorgan Mid Cap	Pair Corr
0.91	JMVRX	Jpmorgan Mid Cap	Pair Corr
0.91	JMVQX	Jpmorgan Mid Cap	Pair Corr
0.91	JMVYX	Jpmorgan Mid Cap	Pair Corr
0.72	GPBFX	Gmo E Plus	Pair Corr
0.61	WARCX	Wells Fargo Advantage	Pair Corr
0.65	MSTGX	Morningstar Global Income	Pair Corr
0.66	ATCIX	Atac Inflation Rotation	Pair Corr
0.62	PWLEX	Pimco Rae Worldwide Steady Growth	Pair Corr

Moving against Bridge Mutual Fund

0.72	RPHYX	Riverpark Short Term	Pair Corr
0.63	PQTNX	Pimco Trends Managed	Pair Corr
0.6	PQTAX	Pimco Trends Managed	Pair Corr
0.6	PQTIX	Aa Pimco Tr	Pair Corr
0.54	QNZRX	Aqr Sustainable Long	Pair Corr
0.35	GPMFX	Guidepath Managed Futures	Pair Corr
0.49	CGQFX	Columbia Disciplined	Pair Corr
0.37	CRHSX	Catholic Rspnsbl Invst	Pair Corr

Related Correlations Analysis

	BSTSX	FIKHX	RAGTX	TOWTX	USTCX	NWHOX	ITYYX	VITAX
BSTSX		0.52	0.37	0.38	0.63	0.63	0.73	0.32	BSTSX
FIKHX	0.52		0.18	-0.04	0.28	0.67	0.61	0.54	FIKHX
RAGTX	0.37	0.18		0.48	0.9	-0.1	-0.03	0.5	RAGTX
TOWTX	0.38	-0.04	0.48		0.56	0.26	0.29	-0.16	TOWTX
USTCX	0.63	0.28	0.9	0.56		0.14	0.29	0.46	USTCX
NWHOX	0.63	0.67	-0.1	0.26	0.14		0.89	0.12	NWHOX
ITYYX	0.73	0.61	-0.03	0.29	0.29	0.89		0.14	ITYYX
VITAX	0.32	0.54	0.5	-0.16	0.46	0.12	0.14		VITAX
	BSTSX	FIKHX	RAGTX	TOWTX	USTCX	NWHOX	ITYYX	VITAX

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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

USTCX	+ 0.9	RAGTX
ITYYX	+ 0.89	NWHOX
ITYYX	+ 0.73	BSTSX
NWHOX	+ 0.67	FIKHX
USTCX	+ 0.63	BSTSX
NWHOX	+ 0.63	BSTSX

High negative correlations

VITAX	- 0.16	TOWTX
NWHOX	- 0.1	RAGTX
TOWTX	- 0.04	FIKHX
ITYYX	- 0.03	RAGTX

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
BSTSX	1.24	(0.03)	(0.02)	0.03	2.02	(1.23)	2.40	(2.50)	9.07
FIKHX	1.27	(0.12)	0.00	(0.19)	0.00	0.00	2.12	(3.00)	9.58
RAGTX	1.15	0.09	0.05	0.17	1.53	(1.23)	2.51	(2.43)	7.83
TOWTX	0.64	0.04	0.01	0.14	0.98	(0.70)	1.27	(1.21)	5.74
USTCX	1.17	0.08	0.04	0.16	1.44	(1.24)	2.71	(2.14)	7.48
NWHOX	1.25	(0.17)	0.00	(0.14)	0.00	0.00	2.34	(2.76)	15.89
ITYYX	1.40	(0.09)	0.00	(0.01)	0.00	0.00	2.50	(2.56)	12.95
VITAX	1.09	0.01	(0.02)	0.09	1.57	(1.04)	2.04	(2.39)	8.39

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