Baird Core Correlations

Mutual Funds . USA . 
Fund . Baird E Plus
BCOSX Fund  USD 10.67  0.02  0.19%   
The current 90-days correlation between Baird E Plus and Metropolitan West Total is 0.1 (i.e., Average 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

Modest diversification

The correlation between Baird E Plus 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 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 state.

Moving together with Baird Mutual Fund

  1.0BAGIX Baird Aggregate BondPairCorr
  0.99BAGSX Baird Aggregate BondPairCorr
  0.92BSBIX Baird Short TermPairCorr
  0.88BSBSX Baird Short TermPairCorr
  0.76BSNSX Baird Strategic MunicipalPairCorr
  0.78BSNIX Baird Strategic MunicipalPairCorr
  0.66BSVIX Baird Smallcap ValuePairCorr
  0.8BTMSX Baird Short TermPairCorr
  0.81BTMIX Baird Short TermPairCorr
  0.81BUBIX Baird Ultra ShortPairCorr
  1.0BCOIX Baird E PlusPairCorr
  0.81BUBSX Baird Ultra ShortPairCorr
  0.86BIMSX Baird Intermediate BondPairCorr
  0.98BIMIX Baird Intermediate BondPairCorr
  0.85BMBSX Baird Quality IntermPairCorr
  0.79BMBIX Baird Quality IntermPairCorr
  0.61BMDSX Baird MidcapPairCorr
  0.61BMDIX Baird MidcapPairCorr
  0.83BMNSX Baird E IntermediatePairCorr
  0.7BMNIX Baird E IntermediatePairCorr
  0.79BMQSX Baird Municipal BondPairCorr
  0.71BMQIX Baird Municipal BondPairCorr
  0.62CCGIX Chautauqua Global GrowthPairCorr
  0.62CCGSX Chautauqua Global GrowthPairCorr
  0.97MWTNX Metropolitan West TotalPairCorr
  0.97MWTSX Metropolitan West TotalPairCorr
  0.98PTTPX Pimco Total ReturnPairCorr
  0.98PTRRX Total ReturnPairCorr
  0.98PTRAX Total ReturnPairCorr
  0.98PTTRX Total ReturnPairCorr
  0.99FIWGX Strategic AdvisersPairCorr
  0.93DODIX Dodge IncomePairCorr
  0.97MWTIX Metropolitan West TotalPairCorr
  0.89MWTRX 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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