Baird Smallcap Correlations

BSVSX Fund

USD 17.11 0.20 1.18%

The current 90-days correlation between Baird Smallcap Value and Baird Aggregate Bond is 0.22 (i.e., Modest diversification). The correlation of Baird Smallcap 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 Smallcap Correlation With Market

Average diversification

The correlation between Baird Smallcap Value and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baird Smallcap Value 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 Smallcap Value. 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

0.62	BSBIX	Baird Short Term	Pair Corr
0.9	BSGSX	Baird Smallmid Cap	Pair Corr
0.9	BSGIX	Baird Smallmid Cap	Pair Corr
0.7	BSNSX	Baird Strategic Municipal	Pair Corr
0.74	BSNIX	Baird Strategic Municipal	Pair Corr
0.96	BSVIX	Baird Smallcap Value	Pair Corr
0.81	BTMSX	Baird Short Term	Pair Corr
0.81	BTMIX	Baird Short Term	Pair Corr
0.62	BMBSX	Baird Quality Interm	Pair Corr
0.63	BMBIX	Baird Quality Interm	Pair Corr
0.62	BMNIX	Baird E Intermediate	Pair Corr
0.89	VSGAX	Vanguard Small Cap	Pair Corr
0.89	VSGIX	Vanguard Small Cap	Pair Corr
0.9	VISGX	Vanguard Small Cap	Pair Corr

Related Correlations Analysis

	BAGIX	BAGSX	BSBIX	BSBSX	BSGSX	BSGIX	BSNSX	BSNIX	BSVSX	BSVIX
BAGIX		1.0	0.0	-0.05	0.42	0.42	0.64	0.72	0.27	0.27	BAGIX
BAGSX	1.0		-0.03	-0.08	0.39	0.38	0.61	0.69	0.22	0.23	BAGSX
BSBIX	0.0	-0.03		0.98	0.53	0.54	0.41	0.45	0.62	0.6	BSBIX
BSBSX	-0.05	-0.08	0.98		0.48	0.48	0.36	0.41	0.58	0.56	BSBSX
BSGSX	0.42	0.39	0.53	0.48		1.0	0.65	0.71	0.9	0.95	BSGSX
BSGIX	0.42	0.38	0.54	0.48	1.0		0.65	0.71	0.9	0.95	BSGIX
BSNSX	0.64	0.61	0.41	0.36	0.65	0.65		0.92	0.7	0.67	BSNSX
BSNIX	0.72	0.69	0.45	0.41	0.71	0.71	0.92		0.74	0.71	BSNIX
BSVSX	0.27	0.22	0.62	0.58	0.9	0.9	0.7	0.74		0.96	BSVSX
BSVIX	0.27	0.23	0.6	0.56	0.95	0.95	0.67	0.71	0.96		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
BSBSX	+ 0.98	BSBIX
BSVIX	+ 0.96	BSVSX
BSVIX	+ 0.95	BSGSX
BSVIX	+ 0.95	BSGIX

High negative correlations

BSBSX	- 0.08	BAGSX
BSBSX	- 0.05	BAGIX
BSBIX	- 0.03	BAGSX
BSBIX	- 0.0	BAGIX

Risk-Adjusted Indicators

There is a big difference between Baird Mutual Fund performing well and Baird Smallcap 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 Smallcap'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	(0.02)	0.00	(0.20)	0.00	0.00	0.52	(0.41)	1.44
BAGSX	0.24	(0.03)	0.00	(0.19)	0.00	0.00	0.60	(0.50)	1.49
BSBIX	0.07	0.00	(0.59)	(0.02)	0.00	(0.12)	0.11	(0.11)	0.53
BSBSX	0.08	0.00	(0.58)	0.09	0.00	(0.13)	0.21	(0.11)	0.53
BSGSX	0.81	0.09	0.04	0.28	0.96	(0.85)	1.65	(1.57)	6.89
BSGIX	0.81	0.09	0.04	0.29	0.98	(0.85)	1.65	(1.56)	6.93
BSNSX	0.11	0.00	(0.31)	(0.09)	0.15	(0.15)	0.20	(0.29)	1.08
BSNIX	0.11	0.00	(0.30)	0.12	0.13	(0.15)	0.20	(0.29)	0.98
BSVSX	0.95	0.22	0.14	1.06	0.79	(1.16)	1.86	(1.41)	8.53
BSVIX	0.96	0.20	0.16	0.47	0.80	(1.15)	1.84	(1.40)	8.58

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