Baird E Correlations

Mutual Funds . USA . 
Fund . Baird E Intermediate
BMNSX Fund  USD 10.13  0.01  0.1%   
The current 90-days correlation between Baird E Intermediate and Baird Short Term Municipal is 0.36 (i.e., Weak diversification). The correlation of Baird E 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 E Correlation With Market

Average diversification

The correlation between Baird E Intermediate and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baird E 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 E 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

  0.88BSBIX Baird Short TermPairCorr
  0.62BSGSX Baird Smallmid CapPairCorr
  0.63BSGIX Baird Smallmid CapPairCorr
  0.99BSNSX Baird Strategic MunicipalPairCorr
  0.99BSNIX Baird Strategic MunicipalPairCorr
  0.91BSVSX Baird Smallcap ValuePairCorr
  0.91BSVIX Baird Smallcap ValuePairCorr
  0.94BTMSX Baird Short TermPairCorr
  0.67BTMIX Baird Short TermPairCorr
  0.83BCOSX Baird E PlusPairCorr
  0.82BCOIX Baird E PlusPairCorr
  0.89BUBSX Baird Ultra ShortPairCorr
  0.84BIMSX Baird Intermediate BondPairCorr
  0.84BIMIX Baird Intermediate BondPairCorr
  0.79BMBSX Baird Quality IntermPairCorr
  0.78BMBIX Baird Quality IntermPairCorr
  0.89BMDSX Baird MidcapPairCorr
  0.66BMDIX Baird MidcapPairCorr
  1.0BMNIX Baird E IntermediatePairCorr
  0.85BMQSX Baird Municipal BondPairCorr
  0.96BMQIX Baird Municipal BondPairCorr
  0.87CCGIX Chautauqua Global GrowthPairCorr
  0.62CCGSX Chautauqua Global GrowthPairCorr
  0.83CCWIX Chautauqua InternationalPairCorr
  0.83CCWSX Chautauqua InternationalPairCorr
  0.99VWITX Vanguard Intermediate-terPairCorr
  0.99VWIUX Vanguard Intermediate-terPairCorr
  0.86AFTEX Tax Exempt BondPairCorr
  0.86AFTFX Tax Exempt BondPairCorr
  0.83TEBCX Tax Exempt BondPairCorr
  0.89TEAFX Tax Exempt BondPairCorr
  0.89TFEBX Tax Exempt BondPairCorr
  0.98FLTMX Fidelity IntermediatePairCorr
  0.76MDNLX Blackrock NationalPairCorr
  0.7MFNLX 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 E 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 E'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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