Baird Short-term Correlations

Mutual Funds . USA . 
Fund . Baird Short Term Bond
BSBSX Fund  USD 9.54  0.01  0.10%   
The current 90-days correlation between Baird Short Term and Baird Aggregate Bond is 0.74 (i.e., Poor diversification). The correlation of Baird Short-term 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 Short-term Correlation With Market

Good diversification

The correlation between Baird Short Term Bond and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baird Short Term Bond 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 Short Term Bond. 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

  0.9BAGIX Baird Aggregate BondPairCorr
  0.89BAGSX Baird Aggregate BondPairCorr
  0.99BSBIX Baird Short TermPairCorr
  0.67BSGSX Baird Smallmid CapPairCorr
  0.68BSGIX Baird Smallmid CapPairCorr
  0.93BSNSX Baird Strategic MunicipalPairCorr
  0.92BSNIX Baird Strategic MunicipalPairCorr
  0.84BSVSX Baird Smallcap ValuePairCorr
  0.84BSVIX Baird Smallcap ValuePairCorr
  0.95BTMSX Baird Short TermPairCorr
  0.95BTMIX Baird Short TermPairCorr
  0.96BUBIX Baird Ultra ShortPairCorr
  0.93BCOSX Baird E PlusPairCorr
  0.92BCOIX Baird E PlusPairCorr
  0.95BUBSX Baird Ultra ShortPairCorr
  0.96BIMSX Baird Intermediate BondPairCorr
  0.97BIMIX Baird Intermediate BondPairCorr
  0.94BMBSX Baird Quality IntermPairCorr
  0.93BMBIX Baird Quality IntermPairCorr
  0.75BMDSX Baird MidcapPairCorr
  0.75BMDIX Baird MidcapPairCorr
  0.9BMNSX Baird E IntermediatePairCorr
  0.92BMNIX Baird E IntermediatePairCorr
  0.81BMQSX Baird Municipal BondPairCorr
  0.81BMQIX Baird Municipal BondPairCorr
  0.79CCGIX Chautauqua Global GrowthPairCorr
  0.79CCGSX Chautauqua Global GrowthPairCorr
  0.75CCWIX Chautauqua InternationalPairCorr
  0.75CCWSX Chautauqua InternationalPairCorr
  0.88VBIRX Vanguard Short TermPairCorr
  0.88VFSUX Vanguard Short TermPairCorr
  0.98VFSIX Vanguard Short TermPairCorr
  0.98VFSTX Vanguard Short TermPairCorr
  0.94VBITX Vanguard Short TermPairCorr
  0.95VBISX Vanguard Short TermPairCorr
  0.93LALDX Lord Abbett ShortPairCorr
  0.99VSCSX Vanguard Short TermPairCorr
  0.96LDLAX Lord Abbett ShortPairCorr
  0.95LDLRX Lord Abbett ShortPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Baird Mutual Fund performing well and Baird Short-term 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 Short-term'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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