Baird Quality Correlations

BMBIX Fund

USD 11.07 0.01 0.09%

The current 90-days correlation between Baird Quality Interm and Baird Aggregate Bond is 0.54 (i.e., Very weak diversification). The correlation of Baird Quality 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.

Baird Quality Correlation With Market

Average diversification

The correlation between Baird Quality Intermediate and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baird Quality Intermediate 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 Baird Quality Intermediate. 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 Baird Mutual Fund

0.84	BAGIX	Baird Aggregate Bond	Pair Corr
0.84	BAGSX	Baird Aggregate Bond	Pair Corr
0.62	BSBIX	Baird Short Term	Pair Corr
0.65	BSBSX	Baird Short Term	Pair Corr
0.95	BSNSX	Baird Strategic Municipal	Pair Corr
0.94	BSNIX	Baird Strategic Municipal	Pair Corr
0.76	BTMSX	Baird Short Term	Pair Corr
0.68	BTMIX	Baird Short Term	Pair Corr
0.85	BCOSX	Baird E Plus	Pair Corr
0.85	BCOIX	Baird E Plus	Pair Corr
0.86	BIMSX	Baird Intermediate Bond	Pair Corr
0.8	BIMIX	Baird Intermediate Bond	Pair Corr
0.99	BMBSX	Baird Quality Interm	Pair Corr
0.96	BMNSX	Baird E Intermediate	Pair Corr
0.96	BMNIX	Baird E Intermediate	Pair Corr
0.97	BMQIX	Baird Municipal Bond	Pair Corr
0.98	VWITX	Vanguard Intermediate-ter	Pair Corr
0.97	VWIUX	Vanguard Intermediate-ter	Pair Corr
0.88	AFTEX	Tax Exempt Bond	Pair Corr
0.88	AFTFX	Tax Exempt Bond	Pair Corr
0.97	TEBCX	Tax Exempt Bond	Pair Corr
0.87	TEAFX	Tax Exempt Bond	Pair Corr
0.87	TFEBX	Tax Exempt Bond	Pair Corr
0.97	FLTMX	Fidelity Intermediate	Pair Corr
0.95	MDNLX	Blackrock National	Pair Corr
0.97	MFNLX	Blackrock Natl Muni	Pair Corr

Moving against Baird Mutual Fund

0.49	BSVSX	Baird Smallcap Value	Pair Corr
0.42	BSGSX	Baird Smallmid Cap	Pair Corr
0.42	BSGIX	Baird Smallmid Cap	Pair Corr
0.38	BUBIX	Baird Ultra Short	Pair Corr
0.38	BUBSX	Baird Ultra Short	Pair Corr
0.49	LTFOX	Lord Abbett Affiliated	Pair Corr
0.44	RQECX	Resq Dynamic Allocation	Pair Corr
0.41	VTSMX	Vanguard Total Stock	Pair Corr
0.39	LLPFX	Longleaf Partners	Pair Corr

Related Correlations Analysis

	BAGIX	BAGSX	BSBIX	BSBSX	BSGSX	BSGIX	BSNSX	BSNIX	BSVSX	BSVIX
BAGIX		1.0	0.51	0.51	-0.7	-0.7	0.67	0.66	-0.75	-0.75	BAGIX
BAGSX	1.0		0.5	0.5	-0.7	-0.71	0.67	0.65	-0.75	-0.75	BAGSX
BSBIX	0.51	0.5		0.96	0.05	0.05	0.74	0.73	-0.04	-0.04	BSBIX
BSBSX	0.51	0.5	0.96		0.02	0.01	0.77	0.76	-0.11	-0.1	BSBSX
BSGSX	-0.7	-0.7	0.05	0.02		1.0	-0.16	-0.16	0.95	0.95	BSGSX
BSGIX	-0.7	-0.71	0.05	0.01	1.0		-0.16	-0.16	0.95	0.95	BSGIX
BSNSX	0.67	0.67	0.74	0.77	-0.16	-0.16		0.99	-0.24	-0.24	BSNSX
BSNIX	0.66	0.65	0.73	0.76	-0.16	-0.16	0.99		-0.24	-0.24	BSNIX
BSVSX	-0.75	-0.75	-0.04	-0.11	0.95	0.95	-0.24	-0.24		1.0	BSVSX
BSVIX	-0.75	-0.75	-0.04	-0.1	0.95	0.95	-0.24	-0.24	1.0		BSVIX
	BAGIX	BAGSX	BSBIX	BSBSX	BSGSX	BSGIX	BSNSX	BSNIX	BSVSX	BSVIX

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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

BAGSX	+ 1.0	BAGIX
BSGIX	+ 1.0	BSGSX
BSVIX	+ 1.0	BSVSX
BSNIX	+ 0.99	BSNSX
BSBSX	+ 0.96	BSBIX
BSVSX	+ 0.95	BSGSX

High negative correlations

BSVIX	- 0.75	BAGSX
BSVSX	- 0.75	BAGSX
BSVIX	- 0.75	BAGIX
BSVSX	- 0.75	BAGIX
BSGIX	- 0.71	BAGSX
BSGSX	- 0.7	BAGSX

Risk-Adjusted Indicators

There is a big difference between Baird Mutual Fund performing well and Baird Quality 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 Baird Quality'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
BAGIX	0.23	(0.05)	0.00	(0.55)	0.00	0.00	0.51	(0.51)	1.30
BAGSX	0.22	(0.05)	0.00	(0.57)	0.00	0.00	0.48	(0.58)	1.28
BSBIX	0.07	0.00	(0.91)	(0.13)	0.00	(0.12)	0.11	(0.11)	0.53
BSBSX	0.08	0.00	(0.87)	(0.53)	0.05	(0.13)	0.21	(0.11)	0.63
BSGSX	0.79	0.15	0.05	0.92	0.85	(0.87)	1.90	(1.52)	5.09
BSGIX	0.80	0.15	0.05	0.96	0.85	(0.90)	1.86	(1.55)	5.12
BSNSX	0.08	(0.01)	(0.40)	(0.06)	0.10	(0.14)	0.19	(0.29)	0.88
BSNIX	0.09	(0.01)	(0.42)	(0.08)	0.12	(0.15)	0.19	(0.19)	0.88
BSVSX	0.90	0.14	0.18	0.22	0.70	(1.10)	1.99	(1.66)	7.18
BSVIX	0.91	0.15	0.18	0.22	0.71	(1.07)	2.05	(1.66)	7.30

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