Baird Smallcap Correlations

Mutual Funds . USA . 
Fund . Baird Smallcap Value
BSVSX Fund  USD 16.31  0.24  1.49%   
The current 90-days correlation between Baird Smallcap Value and Technology Ultrasector Profund is 0.93 (i.e., Almost no 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

Almost no diversification

The correlation between Baird Smallcap Value and DJI is 0.92 (i.e., Almost no 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, which includes a position in Baird Smallcap Value. 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

  0.77BSBIX Baird Short TermPairCorr
  0.78BSBSX Baird Short TermPairCorr
  0.96BSGIX Baird Smallmid CapPairCorr
  0.69BSNSX Baird Strategic MunicipalPairCorr
  0.72BSNIX Baird Strategic MunicipalPairCorr
  1.0BSVIX Baird Smallcap ValuePairCorr
  0.83BTMSX Baird Short TermPairCorr
  0.83BTMIX Baird Short TermPairCorr
  0.86BUBSX Baird Ultra ShortPairCorr
  0.63BIMSX Baird Intermediate BondPairCorr
  0.63BIMIX Baird Intermediate BondPairCorr
  0.71BMBSX Baird Quality IntermPairCorr
  0.73BMBIX Baird Quality IntermPairCorr
  0.98BMDSX Baird MidcapPairCorr
  0.98BMDIX Baird MidcapPairCorr
  0.67BMNSX Baird E IntermediatePairCorr
  0.69BMNIX Baird E IntermediatePairCorr
  0.95CCGIX Chautauqua Global GrowthPairCorr
  0.95CCGSX Chautauqua Global GrowthPairCorr
  0.92CCWIX Chautauqua InternationalPairCorr
  0.92CCWSX Chautauqua InternationalPairCorr
  0.99VSGAX Vanguard Small CapPairCorr
  0.99VSGIX Vanguard Small CapPairCorr
  0.99VISGX Vanguard Small CapPairCorr
  0.99VEXPX Vanguard ExplorerPairCorr
  0.99VEXRX Vanguard ExplorerPairCorr
  0.98JGMIX Janus TritonPairCorr
  0.98JGMRX Janus TritonPairCorr
  0.98JGMAX Janus TritonPairCorr
  0.98JGMCX Janus TritonPairCorr
  0.98JGMNX Janus TritonPairCorr
  0.76LIIAX Columbia Porate IncomePairCorr
  0.75SRINX Columbia Porate IncomePairCorr

Related Correlations Analysis

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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.

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