Baird Small/mid Correlations

BSGSX Fund

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The current 90-days correlation between Baird Smallmid Cap and Neiman Large Cap is 0.81 (i.e., Very poor 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

Weak diversification

The correlation between Baird Smallmid Cap and DJI is 0.37 (i.e., Weak 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 state.

Moving together with Baird Mutual Fund

1.0	BSGIX	Baird Smallmid Cap	Pair Corr
0.65	BSNSX	Baird Strategic Municipal	Pair Corr
0.71	BSNIX	Baird Strategic Municipal	Pair Corr
0.9	BSVSX	Baird Smallcap Value	Pair Corr
0.95	BSVIX	Baird Smallcap Value	Pair Corr
0.75	BTMSX	Baird Short Term	Pair Corr
0.76	BTMIX	Baird Short Term	Pair Corr
0.62	BMBSX	Baird Quality Interm	Pair Corr
0.63	BMBIX	Baird Quality Interm	Pair Corr
0.8	PRNHX	T Rowe Price	Pair Corr

Related Correlations Analysis

	NEAMX	TRBCX	RETSX	HBACX	PBLIX	JAAIX	ILESX
NEAMX		0.44	0.88	0.9	0.95	0.62	0.89	NEAMX
TRBCX	0.44		0.79	0.7	0.33	0.81	0.47	TRBCX
RETSX	0.88	0.79		0.95	0.79	0.79	0.86	RETSX
HBACX	0.9	0.7	0.95		0.88	0.78	0.86	HBACX
PBLIX	0.95	0.33	0.79	0.88		0.48	0.89	PBLIX
JAAIX	0.62	0.81	0.79	0.78	0.48		0.47	JAAIX
ILESX	0.89	0.47	0.86	0.86	0.89	0.47		ILESX
	NEAMX	TRBCX	RETSX	HBACX	PBLIX	JAAIX	ILESX

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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
NEAMX	0.49	(0.01)	(0.11)	0.05	0.61	(0.58)	1.00	(1.04)	4.82
TRBCX	0.89	0.07	0.01	0.31	1.06	(0.94)	1.78	(2.18)	5.70
RETSX	0.58	0.02	(0.04)	0.15	0.79	(0.61)	1.19	(1.46)	5.40
HBACX	0.37	0.01	(0.10)	0.12	0.55	(0.37)	0.79	(0.70)	2.93
PBLIX	0.51	(0.02)	(0.09)	0.04	0.75	(0.50)	1.06	(1.24)	3.61
JAAIX	0.16	0.01	(0.28)	0.22	0.12	(0.21)	0.31	(0.31)	1.13
ILESX	0.70	(0.01)	(0.06)	0.06	1.00	(0.69)	1.24	(1.84)	6.28

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Baird Small/mid Correlations

Baird Small/mid Correlation With Market

Weak diversification

Moving together with Baird Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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