Baird Core Correlations

Mutual Funds . USA . 
Fund . Baird E Plus
BCOIX Fund  USD 10.14  0.01  0.1%   
The current 90-days correlation between Baird E Plus and Income Fund Income is 0.92 (i.e., Almost no diversification). The correlation of Baird Core 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 Core Correlation With Market

Average diversification

The correlation between Baird E Plus and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baird E Plus 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 E Plus. 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

  0.85BAGIX Baird Aggregate BondPairCorr
  0.86BAGSX Baird Aggregate BondPairCorr
  0.72BSBIX Baird Short TermPairCorr
  0.92BSBSX Baird Short TermPairCorr
  0.64BSVSX Baird Smallcap ValuePairCorr
  0.8BUBIX Baird Ultra ShortPairCorr
  0.84BCOSX Baird E PlusPairCorr
  0.63BIMSX Baird Intermediate BondPairCorr
  0.8BIMIX Baird Intermediate BondPairCorr
  0.61BMBSX Baird Quality IntermPairCorr
  0.82BMBIX Baird Quality IntermPairCorr
  0.75BMQSX Baird Municipal BondPairCorr
  0.88MWTNX Metropolitan West TotalPairCorr
  0.88MWTSX Metropolitan West TotalPairCorr
  0.85PTTPX Pimco Total ReturnPairCorr
  0.87PTRRX Total ReturnPairCorr
  0.86PTRAX Total ReturnPairCorr
  0.86PTTRX Total ReturnPairCorr
  0.84FIWGX Strategic AdvisersPairCorr
  0.76DODIX Dodge IncomePairCorr
  0.88MWTIX Metropolitan West TotalPairCorr
  0.77MWTRX Metropolitan West TotalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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