Baird Aggregate Correlations

Mutual Funds . USA . 
Fund . Baird Aggregate Bond
BAGSX Fund  USD 10.19  0.02  0.20%   
The current 90-days correlation between Baird Aggregate Bond and Pear Tree Polaris is 0.14 (i.e., Average 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 state.

Moving together with Baird Mutual Fund

  1.0BAGIX Baird Aggregate BondPairCorr
  0.88BSBIX Baird Short TermPairCorr
  0.84BSBSX Baird Short TermPairCorr
  0.79BSNSX Baird Strategic MunicipalPairCorr
  0.78BSNIX Baird Strategic MunicipalPairCorr
  0.62BSVSX Baird Smallcap ValuePairCorr
  0.62BSVIX Baird Smallcap ValuePairCorr
  0.73BTMSX Baird Short TermPairCorr
  0.75BTMIX Baird Short TermPairCorr
  0.75BUBIX Baird Ultra ShortPairCorr
  0.99BCOSX Baird E PlusPairCorr
  0.99BCOIX Baird E PlusPairCorr
  0.75BUBSX Baird Ultra ShortPairCorr
  0.97BIMSX Baird Intermediate BondPairCorr
  0.96BIMIX Baird Intermediate BondPairCorr
  0.8BMBSX Baird Quality IntermPairCorr
  0.73BMBIX Baird Quality IntermPairCorr
  0.77BMNSX Baird E IntermediatePairCorr
  0.78BMNIX Baird E IntermediatePairCorr
  0.75BMQSX Baird Municipal BondPairCorr
  0.75BMQIX Baird Municipal BondPairCorr
  0.88VBTLX Vanguard Total BondPairCorr
  0.99VBMFX Vanguard Total BondPairCorr
  0.99VBTIX Vanguard Total BondPairCorr
  0.99VTBSX Vanguard Total BondPairCorr
  0.99VTBIX 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

  0.6USPSX Profunds UltrashortPairCorr
  0.6USPIX Profunds UltrashortPairCorr
  0.56UIPIX Ultrashort Mid CapPairCorr
  0.51TCSUX Cleartrack 2020 ClassPairCorr
  0.48TCTGX Transamerica CleartrackPairCorr
  0.48TCTJX Transamerica CleartrackPairCorr
  0.47TDKTX 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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