Baird Small/mid Correlations

BSGIX Fund

USD 18.14 0.22 1.23%

The current 90-days correlation between Baird Smallmid Cap and Baird Aggregate Bond is -0.04 (i.e., Good diversification). The correlation of Baird Small/mid 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 Small/mid Correlation With Market

Average diversification

The correlation between Baird Smallmid Cap and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baird Smallmid Cap 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 Smallmid Cap. 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

1.0	BSGSX	Baird Smallmid Cap	Pair Corr
0.95	BSVSX	Baird Smallcap Value	Pair Corr
0.97	BSVIX	Baird Smallcap Value	Pair Corr
0.86	BUBIX	Baird Ultra Short	Pair Corr
0.87	BUBSX	Baird Ultra Short	Pair Corr
0.92	BMDSX	Baird Midcap	Pair Corr
0.92	BMDIX	Baird Midcap	Pair Corr
0.68	CCGIX	Chautauqua Global Growth	Pair Corr
0.63	CCGSX	Chautauqua Global Growth	Pair Corr
0.92	PAMCX	T Rowe Price	Pair Corr
0.92	RRMGX	T Rowe Price	Pair Corr
0.95	TRQZX	T Rowe Price	Pair Corr
0.95	RPMGX	T Rowe Price	Pair Corr
0.98	PRJIX	T Rowe Price	Pair Corr
0.96	PRNHX	T Rowe Price	Pair Corr
0.96	TRUZX	T Rowe Price	Pair Corr
0.96	PCBIX	Midcap Fund Institutional	Pair Corr
0.96	PEMGX	Midcap Fund Class	Pair Corr
0.97	PMBCX	Midcap Fund Class	Pair Corr
0.95	VSTSX	Vanguard Total Stock	Pair Corr
0.95	VSMPX	Vanguard Total Stock	Pair Corr
0.97	VITSX	Vanguard Total Stock	Pair Corr
0.94	VFFSX	Vanguard 500 Index	Pair Corr
0.96	VFIAX	Vanguard 500 Index	Pair Corr

Moving against Baird Mutual Fund

0.72	BAGSX	Baird Aggregate Bond	Pair Corr
0.71	BAGIX	Baird Aggregate Bond	Pair Corr
0.7	BCOSX	Baird E Plus	Pair Corr
0.7	BCOIX	Baird E Plus	Pair Corr
0.68	BIMSX	Baird Intermediate Bond	Pair Corr
0.68	BIMIX	Baird Intermediate Bond	Pair Corr
0.41	BMBSX	Baird Quality Interm	Pair Corr
0.41	BMBIX	Baird Quality Interm	Pair Corr
0.31	VTISX	Vanguard Total Inter	Pair Corr
0.31	VTSNX	Vanguard Total Inter	Pair Corr
0.31	VTPSX	Vanguard Total Inter	Pair Corr

Related Correlations Analysis

	BAGIX	BAGSX	BSBIX	BSBSX	BSNSX	BSNIX	BSVSX	BSVIX
BAGIX		0.96	0.53	0.55	0.67	0.65	-0.75	-0.76	BAGIX
BAGSX	0.96		0.55	0.55	0.66	0.64	-0.75	-0.75	BAGSX
BSBIX	0.53	0.55		0.96	0.74	0.73	-0.1	-0.1	BSBIX
BSBSX	0.55	0.55	0.96		0.76	0.74	-0.19	-0.17	BSBSX
BSNSX	0.67	0.66	0.74	0.76		0.99	-0.22	-0.2	BSNSX
BSNIX	0.65	0.64	0.73	0.74	0.99		-0.21	-0.19	BSNIX
BSVSX	-0.75	-0.75	-0.1	-0.19	-0.22	-0.21		0.98	BSVSX
BSVIX	-0.76	-0.75	-0.1	-0.17	-0.2	-0.19	0.98		BSVIX
	BAGIX	BAGSX	BSBIX	BSBSX	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

BSNIX	+ 0.99	BSNSX
BSVIX	+ 0.98	BSVSX
BAGSX	+ 0.96	BAGIX
BSBSX	+ 0.96	BSBIX
BSNSX	+ 0.76	BSBSX
BSNSX	+ 0.74	BSBIX

High negative correlations

BSVIX	- 0.76	BAGIX
BSVIX	- 0.75	BAGSX
BSVSX	- 0.75	BAGSX
BSVSX	- 0.75	BAGIX
BSVSX	- 0.22	BSNSX
BSVSX	- 0.21	BSNIX

Risk-Adjusted Indicators

There is a big difference between Baird Mutual Fund performing well and Baird Small/mid 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 Small/mid'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	0.22	(0.04)	0.00	(0.40)	0.00	0.00	0.51	(0.51)	1.30
BAGSX	0.22	(0.02)	0.00	0.39	0.00	0.00	0.49	(0.58)	1.28
BSBIX	0.06	0.00	(0.87)	0.04	0.00	(0.12)	0.11	(0.11)	0.53
BSBSX	0.08	0.00	(0.83)	0.06	0.02	(0.13)	0.21	(0.11)	0.63
BSNSX	0.08	0.01	(0.39)	0.02	0.10	(0.14)	0.19	(0.29)	0.88
BSNIX	0.09	0.01	(0.40)	(0.01)	0.11	(0.15)	0.19	(0.19)	0.88
BSVSX	0.89	0.14	0.17	0.22	0.70	(1.08)	1.91	(1.66)	7.18
BSVIX	0.91	0.30	0.18	2.19	0.71	(1.07)	2.05	(1.66)	7.30

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