Baird Short Correlations

Mutual Funds . USA . 
Fund . Baird Short Term Municipal
BTMIX Fund  USD 10.06  0.01  0.1%   
The current 90-days correlation between Baird Short Term and Bts Tactical Fixed is 0.15 (i.e., Average diversification). The correlation of Baird Short 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 Correlation With Market

Significant diversification

The correlation between Baird Short Term Municipal and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baird Short Term Municipal 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 Municipal. 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

  0.66BSBIX Baird Short TermPairCorr
  0.94BSBSX Baird Short TermPairCorr
  0.77BSGIX Baird Smallmid CapPairCorr
  0.62BSNSX Baird Strategic MunicipalPairCorr
  0.94BSVSX Baird Smallcap ValuePairCorr
  0.64BSVIX Baird Smallcap ValuePairCorr
  0.7BTMSX Baird Short TermPairCorr
  0.99BUBIX Baird Ultra ShortPairCorr
  0.79BCOIX Baird E PlusPairCorr
  0.7BUBSX Baird Ultra ShortPairCorr
  0.62BIMIX Baird Intermediate BondPairCorr
  0.65BMBSX Baird Quality IntermPairCorr
  0.97BMBIX Baird Quality IntermPairCorr
  0.68BMDIX Baird MidcapPairCorr
  0.81BMQSX Baird Municipal BondPairCorr
  0.7CCGSX Chautauqua Global GrowthPairCorr
  0.69VMLTX Vanguard Limited TermPairCorr
  0.71VMLUX Vanguard Limited TermPairCorr
  0.7VWSTX Vanguard Short TermPairCorr
  0.69VWSUX Vanguard Short TermPairCorr
  0.68GDUSX Goldman Sachs ShortPairCorr
  0.99GANPX Goldman Sachs ShortPairCorr
  0.61AIDYX Diversified MunicipalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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