Baird Aggregate Correlations

Mutual Funds . USA . 
Fund . Baird Aggregate Bond
BAGIX Fund  USD 9.78  0.02  0.20%   
The current 90-days correlation between Baird Aggregate Bond and Metropolitan West Total is 0.94 (i.e., Almost no diversification). The correlation of Baird Aggregate 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 Aggregate Correlation With Market

Modest diversification

The correlation between Baird Aggregate Bond and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baird Aggregate Bond 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 Aggregate Bond. 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

  1.0BAGSX Baird Aggregate BondPairCorr
  0.89BSBIX Baird Short TermPairCorr
  0.86BSBSX Baird Short TermPairCorr
  0.82BSNSX Baird Strategic MunicipalPairCorr
  0.8BSNIX Baird Strategic MunicipalPairCorr
  0.65BSVSX Baird Smallcap ValuePairCorr
  0.65BSVIX Baird Smallcap ValuePairCorr
  0.76BTMSX Baird Short TermPairCorr
  0.78BTMIX Baird Short TermPairCorr
  0.78BUBIX Baird Ultra ShortPairCorr
  1.0BCOSX Baird E PlusPairCorr
  1.0BCOIX Baird E PlusPairCorr
  0.77BUBSX Baird Ultra ShortPairCorr
  0.97BIMSX Baird Intermediate BondPairCorr
  0.97BIMIX Baird Intermediate BondPairCorr
  0.82BMBSX Baird Quality IntermPairCorr
  0.76BMBIX Baird Quality IntermPairCorr
  0.8BMNSX Baird E IntermediatePairCorr
  0.81BMNIX Baird E IntermediatePairCorr
  0.77BMQSX Baird Municipal BondPairCorr
  0.77BMQIX Baird Municipal BondPairCorr
  0.88VBTLX Vanguard Total BondPairCorr
  0.98VBMFX Vanguard Total BondPairCorr
  0.98VBTIX Vanguard Total BondPairCorr
  0.98VTBSX Vanguard Total BondPairCorr
  0.98VTBIX Vanguard Total BondPairCorr
  0.89VTBNX Vanguard Total BondPairCorr
  0.99FBOFX American FundsPairCorr
  0.99FFBOX American FundsPairCorr
  0.99BFAFX Bond FundPairCorr
  0.89ABNDX Bond FundPairCorr

Moving against Baird Mutual Fund

  0.63USPSX Profunds UltrashortPairCorr
  0.63USPIX Profunds UltrashortPairCorr
  0.6UIPIX Ultrashort Mid CapPairCorr
  0.54TCSUX Cleartrack 2020 ClassPairCorr
  0.51TCTGX Transamerica CleartrackPairCorr
  0.51TCTJX Transamerica CleartrackPairCorr
  0.5TDKTX Cleartrack 2015 ClassPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Baird Mutual Fund performing well and Baird Aggregate 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 Aggregate'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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