Baillie Gifford Correlations

BGUIX Fund

USD 6.01 0.08 1.35%

The current 90-days correlation between Baillie Gifford Discovery and The Eafe Pure is 0.45 (i.e., Very weak diversification). The correlation of Baillie Gifford 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.

Baillie Gifford Correlation With Market

Poor diversification

The correlation between Baillie Gifford Discovery and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baillie Gifford Discovery 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 Baillie Gifford Discovery. 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 Baillie Mutual Fund

0.82	BSGLX	Long Term	Pair Corr
0.76	BGAKX	Global Alpha	Pair Corr
0.76	BGALX	Baillie Gifford Global	Pair Corr
0.75	BGASX	Global Alpha	Pair Corr
0.75	BGATX	Baillie Gifford Global	Pair Corr
0.9	BGGSX	Equity Growth	Pair Corr
0.89	BGGKX	Equity Growth	Pair Corr
0.82	BGLTX	Baillie Gifford	Pair Corr
0.82	BGLKX	Long Term	Pair Corr

Moving against Baillie Mutual Fund

0.39	BSGPX	Eafe Pure	Pair Corr
0.36	BGCSX	Eafe Choice	Pair Corr
0.35	BGCWX	Baillie Gifford Eafe	Pair Corr
0.33	BGCJX	Baillie Gifford Eafe	Pair Corr
0.4	BGPFX	Baillie Gifford Eafe	Pair Corr
0.39	BGPKX	Eafe Pure	Pair Corr
0.39	BGPTX	Baillie Gifford Eafe	Pair Corr
0.37	BICKX	The International Smaller	Pair Corr
0.37	BICIX	The International Smaller	Pair Corr
0.36	BKGCX	Eafe Choice	Pair Corr
0.34	BGHDX	Baillie Gifford Health	Pair Corr
0.34	BGHBX	Baillie Gifford Health	Pair Corr

Related Correlations Analysis

	BSGPX	BSGLX	BTLSX	BTLKX	BCANX	BCAKX	BGAKX	BGALX	BGASX	BGATX
BSGPX		-0.23	0.31	0.31	-0.01	-0.01	0.18	0.18	0.18	0.18	BSGPX
BSGLX	-0.23		0.81	0.81	0.83	0.83	0.88	0.88	0.88	0.88	BSGLX
BTLSX	0.31	0.81		1.0	0.86	0.86	0.89	0.89	0.89	0.89	BTLSX
BTLKX	0.31	0.81	1.0		0.85	0.85	0.89	0.89	0.89	0.89	BTLKX
BCANX	-0.01	0.83	0.86	0.85		1.0	0.74	0.74	0.74	0.74	BCANX
BCAKX	-0.01	0.83	0.86	0.85	1.0		0.74	0.74	0.74	0.74	BCAKX
BGAKX	0.18	0.88	0.89	0.89	0.74	0.74		1.0	1.0	1.0	BGAKX
BGALX	0.18	0.88	0.89	0.89	0.74	0.74	1.0		1.0	1.0	BGALX
BGASX	0.18	0.88	0.89	0.89	0.74	0.74	1.0	1.0		1.0	BGASX
BGATX	0.18	0.88	0.89	0.89	0.74	0.74	1.0	1.0	1.0		BGATX
	BSGPX	BSGLX	BTLSX	BTLKX	BCANX	BCAKX	BGAKX	BGALX	BGASX	BGATX

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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

BTLKX	+ 1.0	BTLSX
BCAKX	+ 1.0	BCANX
BGALX	+ 1.0	BGAKX
BGASX	+ 1.0	BGAKX
BGATX	+ 1.0	BGAKX
BGASX	+ 1.0	BGALX

High negative correlations

BSGLX	- 0.23	BSGPX
BCAKX	- 0.01	BSGPX
BCANX	- 0.01	BSGPX

Risk-Adjusted Indicators

There is a big difference between Baillie Mutual Fund performing well and Baillie Gifford 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 Baillie Gifford'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
BSGPX	0.79	(0.15)	0.00	(0.11)	0.00	0.00	1.52	(1.72)	5.71
BSGLX	0.92	0.08	0.04	0.23	1.11	(0.96)	2.32	(2.22)	5.65
BTLSX	0.86	(0.03)	(0.04)	0.09	1.16	(1.02)	2.25	(1.79)	7.11
BTLKX	0.87	(0.03)	(0.04)	0.08	1.17	(1.03)	2.08	(1.89)	7.24
BCANX	1.47	0.47	0.12	(4.55)	1.47	(2.42)	6.01	(2.52)	18.02
BCAKX	1.47	0.47	0.12	(4.55)	1.47	(2.42)	6.01	(2.52)	18.02
BGAKX	0.64	(0.03)	(0.08)	0.08	0.81	(0.69)	1.36	(1.60)	4.19
BGALX	0.64	(0.03)	(0.08)	0.08	0.80	(0.69)	1.37	(1.54)	4.20
BGASX	0.65	(0.03)	(0.08)	0.08	0.81	(0.69)	1.36	(1.55)	4.25
BGATX	0.64	(0.03)	(0.08)	0.08	0.80	(0.69)	1.36	(1.59)	4.17

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