Baird Quality Correlations

Mutual Funds . USA . 
Fund . Baird Quality Intermediate
BMBIX Fund  USD 10.94  0.01  0.09%   
The current 90-days correlation between Baird Quality Interm and Baird Short Term Municipal is 0.83 (i.e., Very poor diversification). The correlation of Baird Quality 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 Quality Correlation With Market

Average diversification

The correlation between Baird Quality Intermediate and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baird Quality Intermediate 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 Quality Intermediate. 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

  0.61BSBIX Baird Short TermPairCorr
  0.93BSBSX Baird Short TermPairCorr
  0.83BSGSX Baird Smallmid CapPairCorr
  0.83BSGIX Baird Smallmid CapPairCorr
  0.99BSNSX Baird Strategic MunicipalPairCorr
  1.0BSNIX Baird Strategic MunicipalPairCorr
  0.93BSVSX Baird Smallcap ValuePairCorr
  0.93BSVIX Baird Smallcap ValuePairCorr
  0.97BTMSX Baird Short TermPairCorr
  0.97BTMIX Baird Short TermPairCorr
  0.95BUBIX Baird Ultra ShortPairCorr
  0.83BCOIX Baird E PlusPairCorr
  0.63BUBSX Baird Ultra ShortPairCorr
  0.86BIMSX Baird Intermediate BondPairCorr
  0.76BMBSX Baird Quality IntermPairCorr
  0.62BMDSX Baird MidcapPairCorr
  0.89BMDIX Baird MidcapPairCorr
  0.82BMNSX Baird E IntermediatePairCorr
  1.0BMNIX Baird E IntermediatePairCorr
  0.94BMQSX Baird Municipal BondPairCorr
  0.94BMQIX Baird Municipal BondPairCorr
  0.88CCGIX Chautauqua Global GrowthPairCorr
  0.88CCGSX Chautauqua Global GrowthPairCorr
  0.84CCWIX Chautauqua InternationalPairCorr
  0.84CCWSX Chautauqua InternationalPairCorr
  0.81VWITX Vanguard Intermediate-terPairCorr
  0.83VWIUX Vanguard Intermediate-terPairCorr
  0.72AFTEX Tax Exempt BondPairCorr
  0.72AFTFX Tax Exempt BondPairCorr
  0.69TEBCX Tax Exempt BondPairCorr
  0.75TEAFX Tax Exempt BondPairCorr
  0.75TFEBX Tax Exempt BondPairCorr
  0.76FLTMX Fidelity IntermediatePairCorr
  0.71MDNLX Blackrock NationalPairCorr
  0.66MFNLX Blackrock Natl MuniPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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