Baird Quality Correlations

Mutual Funds . USA . 
Fund . Baird Quality Intermediate
BMBSX Fund  USD 11.24  0.01  0.09%   
The current 90-days correlation between Baird Quality Interm and Schwab Tax Free Bond is 0.17 (i.e., Average 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

Modest diversification

The correlation between Baird Quality Intermediate and DJI is 0.26 (i.e., Modest 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 state.

Moving together with Baird Mutual Fund

  0.81BAGIX Baird Aggregate BondPairCorr
  0.79BAGSX Baird Aggregate BondPairCorr
  0.68BSBIX Baird Short TermPairCorr
  0.82BSBSX Baird Short TermPairCorr
  0.61BSGSX Baird Smallmid CapPairCorr
  0.61BSGIX Baird Smallmid CapPairCorr
  0.76BSNSX Baird Strategic MunicipalPairCorr
  0.75BSNIX Baird Strategic MunicipalPairCorr
  0.77BSVSX Baird Smallcap ValuePairCorr
  0.75BSVIX Baird Smallcap ValuePairCorr
  0.8BTMSX Baird Short TermPairCorr
  0.84BTMIX Baird Short TermPairCorr
  0.79BUBIX Baird Ultra ShortPairCorr
  0.77BCOSX Baird E PlusPairCorr
  0.69BCOIX Baird E PlusPairCorr
  0.81BUBSX Baird Ultra ShortPairCorr
  0.69BIMSX Baird Intermediate BondPairCorr
  0.77BIMIX Baird Intermediate BondPairCorr
  0.9BMBIX Baird Quality IntermPairCorr
  0.85BMDSX Baird MidcapPairCorr
  0.85BMDIX Baird MidcapPairCorr
  0.79BMNSX Baird E IntermediatePairCorr
  0.75BMNIX Baird E IntermediatePairCorr
  0.87BMQSX Baird Municipal BondPairCorr
  0.66BMQIX Baird Municipal BondPairCorr
  0.67CCGIX Chautauqua Global GrowthPairCorr
  0.84CCGSX Chautauqua Global GrowthPairCorr
  0.89VWITX Vanguard Intermediate-terPairCorr
  0.88VWIUX Vanguard Intermediate-terPairCorr
  0.74AFTEX Tax Exempt BondPairCorr
  0.74AFTFX Tax Exempt BondPairCorr
  0.69TEBCX Tax Exempt BondPairCorr
  0.78TEAFX Tax Exempt BondPairCorr
  0.79TFEBX Tax Exempt BondPairCorr
  0.98FLTMX Fidelity IntermediatePairCorr
  0.69MDNLX Blackrock NationalPairCorr
  0.61MFNLX 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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