Baird Quality Correlations

Mutual Funds . USA . 
Fund . Baird Quality Intermediate
BMBSX Fund  USD 11.37  0.01  0.09%   
The current 90-days correlation between Baird Quality Interm and Schwab Tax Free Bond is 0.92 (i.e., Almost no 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

Modest diversification

The correlation between Baird Quality Intermediate and DJI is 0.2 (i.e., Modest 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 state.

Moving together with Baird Mutual Fund

  0.85BAGIX Baird Aggregate BondPairCorr
  0.85BAGSX Baird Aggregate BondPairCorr
  0.63BSBSX Baird Short TermPairCorr
  0.94BSNSX Baird Strategic MunicipalPairCorr
  0.93BSNIX Baird Strategic MunicipalPairCorr
  0.75BTMSX Baird Short TermPairCorr
  0.67BTMIX Baird Short TermPairCorr
  0.86BCOSX Baird E PlusPairCorr
  0.86BCOIX Baird E PlusPairCorr
  0.87BIMSX Baird Intermediate BondPairCorr
  0.8BIMIX Baird Intermediate BondPairCorr
  0.99BMBIX Baird Quality IntermPairCorr
  0.96BMNSX Baird E IntermediatePairCorr
  0.95BMNIX Baird E IntermediatePairCorr
  0.97BMQIX Baird Municipal BondPairCorr
  0.98VWITX Vanguard Intermediate-terPairCorr
  0.97VWIUX Vanguard Intermediate-terPairCorr
  0.88AFTEX Tax Exempt BondPairCorr
  0.88AFTFX Tax Exempt BondPairCorr
  0.97TEBCX Tax Exempt BondPairCorr
  0.86TEAFX Tax Exempt BondPairCorr
  0.86TFEBX Tax Exempt BondPairCorr
  0.97FLTMX Fidelity IntermediatePairCorr
  0.95MDNLX Blackrock NationalPairCorr
  0.97MFNLX Blackrock Natl MuniPairCorr

Moving against Baird Mutual Fund

  0.5BSVSX Baird Smallcap ValuePairCorr
  0.43BSGSX Baird Smallmid CapPairCorr
  0.43BSGIX Baird Smallmid CapPairCorr
  0.41BUBIX Baird Ultra ShortPairCorr
  0.41BUBSX Baird Ultra ShortPairCorr
  0.51LTFOX Lord Abbett AffiliatedPairCorr
  0.45RQECX Resq Dynamic AllocationPairCorr
  0.43VTSMX Vanguard Total StockPairCorr
  0.4LLPFX Longleaf PartnersPairCorr

Related Correlations Analysis

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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.

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