Baird Smallcap Correlations

BSVSX Fund

USD 12.93 0.63 4.65%

The current 90-days correlation between Baird Smallcap Value and Baird Aggregate Bond is 0.05 (i.e., Significant 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

Very poor diversification

The correlation between Baird Smallcap Value and DJI is 0.82 (i.e., Very poor 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

0.95	BSGSX	Baird Smallmid Cap	Pair Corr
0.95	BSGIX	Baird Smallmid Cap	Pair Corr
0.96	BSVIX	Baird Smallcap Value	Pair Corr
0.98	BMDSX	Baird Midcap	Pair Corr
0.98	BMDIX	Baird Midcap	Pair Corr
0.95	VSGAX	Vanguard Small Cap	Pair Corr
0.99	VSGIX	Vanguard Small Cap	Pair Corr
0.99	VISGX	Vanguard Small Cap	Pair Corr
0.98	VEXPX	Vanguard Explorer	Pair Corr
0.98	VEXRX	Vanguard Explorer	Pair Corr
0.98	JGMIX	Janus Triton	Pair Corr
0.98	JGMRX	Janus Triton	Pair Corr
0.98	JGMAX	Janus Triton	Pair Corr
0.93	JGMCX	Janus Triton	Pair Corr
0.93	JGMNX	Janus Triton	Pair Corr
0.89	VSTSX	Vanguard Total Stock	Pair Corr

Moving against Baird Mutual Fund

0.82	BSBSX	Baird Short Term	Pair Corr
0.82	BUBIX	Baird Ultra Short	Pair Corr
0.81	BSBIX	Baird Short Term	Pair Corr
0.81	BIMIX	Baird Intermediate Bond	Pair Corr
0.78	BUBSX	Baird Ultra Short	Pair Corr
0.75	BAGIX	Baird Aggregate Bond	Pair Corr
0.75	BAGSX	Baird Aggregate Bond	Pair Corr
0.74	BCOSX	Baird E Plus	Pair Corr
0.74	BCOIX	Baird E Plus	Pair Corr
0.63	BTMIX	Baird Short Term	Pair Corr
0.61	BTMSX	Baird Short Term	Pair Corr
0.42	BSNIX	Baird Strategic Municipal	Pair Corr
0.41	BSNSX	Baird Strategic Municipal	Pair Corr
0.35	BMBIX	Baird Quality Interm	Pair Corr
0.34	BMBSX	Baird Quality Interm	Pair Corr
0.34	BMNIX	Baird E Intermediate	Pair Corr
0.32	BMNSX	Baird E Intermediate	Pair Corr
0.76	GCGGX	Deutsche Gnma	Pair Corr
0.6	VTISX	Vanguard Total Inter	Pair Corr
0.6	VTSNX	Vanguard Total Inter	Pair Corr
0.52	VTPSX	Vanguard Total Inter	Pair Corr
0.33	CCWIX	Chautauqua International	Pair Corr
0.32	CCWSX	Chautauqua International	Pair Corr

Related Correlations Analysis

	BAGIX	BAGSX	BSBIX	BSBSX	BSGSX	BSGIX	BSNSX	BSNIX	BSVSX
BAGIX		1.0	0.94	0.97	-0.79	-0.79	0.82	0.83	-0.75	BAGIX
BAGSX	1.0		0.94	0.97	-0.8	-0.8	0.82	0.83	-0.75	BAGSX
BSBIX	0.94	0.94		0.98	-0.83	-0.83	0.68	0.7	-0.81	BSBIX
BSBSX	0.97	0.97	0.98		-0.86	-0.86	0.73	0.74	-0.82	BSBSX
BSGSX	-0.79	-0.8	-0.83	-0.86		1.0	-0.46	-0.47	0.95	BSGSX
BSGIX	-0.79	-0.8	-0.83	-0.86	1.0		-0.46	-0.47	0.95	BSGIX
BSNSX	0.82	0.82	0.68	0.73	-0.46	-0.46		0.99	-0.41	BSNSX
BSNIX	0.83	0.83	0.7	0.74	-0.47	-0.47	0.99		-0.42	BSNIX
BSVSX	-0.75	-0.75	-0.81	-0.82	0.95	0.95	-0.41	-0.42		BSVSX
	BAGIX	BAGSX	BSBIX	BSBSX	BSGSX	BSGIX	BSNSX	BSNIX	BSVSX

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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
BSNIX	+ 0.99	BSNSX
BSBSX	+ 0.98	BSBIX
BSBSX	+ 0.97	BAGIX
BSBSX	+ 0.97	BAGSX

High negative correlations

BSGIX	- 0.86	BSBSX
BSGSX	- 0.86	BSBSX
BSGIX	- 0.83	BSBIX
BSGSX	- 0.83	BSBIX
BSVSX	- 0.82	BSBSX
BSVSX	- 0.81	BSBIX

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	0.25	0.04	0.47	(2.33)	0.11	(0.30)	0.62	(0.41)	1.36
BAGSX	0.24	0.03	0.47	(1.35)	0.12	(0.30)	0.50	(0.40)	1.41
BSBIX	0.08	0.02	0.84	(1.94)	0.00	(0.12)	0.11	(0.11)	0.43
BSBSX	0.08	0.02	0.91	2.46	0.00	(0.13)	0.21	(0.11)	0.32
BSGSX	0.99	(0.19)	0.00	1.00	0.00	0.00	1.65	(2.37)	5.14
BSGIX	1.00	(0.19)	0.00	1.03	0.00	0.00	1.67	(2.39)	5.10
BSNSX	0.10	0.01	0.51	0.54	0.02	(0.14)	0.20	(0.20)	0.69
BSNIX	0.10	0.01	0.49	1.91	0.03	(0.14)	0.20	(0.29)	0.59
BSVSX	1.19	(0.15)	0.00	(0.20)	0.00	0.00	1.97	(2.88)	6.03

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