Baird Smallcap Correlations

BSVIX Fund

USD 15.12 0.15 0.98%

The current 90-days correlation between Baird Smallcap Value and Sound Shore Fund is 0.48 (i.e., Very weak diversification). The correlation of Baird Smallcap 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 Smallcap Correlation With Market

Very weak diversification

The correlation between Baird Smallcap Value and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baird Smallcap Value and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios. 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

0.82	BSVSX	Baird Smallcap Value	Pair Corr
0.75	BMDSX	Baird Midcap	Pair Corr
0.75	BMDIX	Baird Midcap	Pair Corr

Moving against Baird Mutual Fund

0.48	BTMIX	Baird Short Term	Pair Corr
0.45	BTMSX	Baird Short Term	Pair Corr
0.35	BUBIX	Baird Ultra Short	Pair Corr
0.34	BUBSX	Baird Ultra Short	Pair Corr
0.34	BMBIX	Baird Quality Interm	Pair Corr
0.33	BSBIX	Baird Short Term	Pair Corr

Related Correlations Analysis

	SSHFX	ASCLX	QNZIX	SPMIX	PAEIX
SSHFX		0.78	0.66	0.9	0.78	SSHFX
ASCLX	0.78		0.39	0.78	0.45	ASCLX
QNZIX	0.66	0.39		0.4	0.59	QNZIX
SPMIX	0.9	0.78	0.4		0.66	SPMIX
PAEIX	0.78	0.45	0.59	0.66		PAEIX
	SSHFX	ASCLX	QNZIX	SPMIX	PAEIX

Risk-Adjusted Indicators

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

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SSHFX	0.65	0.08	0.09	0.14	0.70	(0.67)	1.37	(1.29)	3.25
ASCLX	0.59	0.25	0.38	1.04	0.00	(0.76)	0.68	(0.58)	17.14
QNZIX	0.64	0.06	0.01	0.96	0.83	(0.64)	1.23	(1.20)	3.79
SPMIX	0.82	0.05	0.06	0.10	0.89	(0.90)	1.90	(1.58)	6.89
PAEIX	0.64	0.00	(0.01)	0.05	0.91	(0.63)	1.21	(1.37)	4.20

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