Baird Core Correlations

BCOIX Fund

USD 10.24 0.01 0.1%

The current 90-days correlation between Baird E Plus and Income Fund Income is 0.96 (i.e., Almost no diversification). The correlation of Baird Core 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 Core Correlation With Market

Good diversification

The correlation between Baird E Plus and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baird E Plus 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 Plus. 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

0.9	DOXIX	Dodge Cox Income	Pair Corr
0.9	MWTNX	Metropolitan West Total	Pair Corr
0.9	MWTSX	Metropolitan West Total	Pair Corr
0.9	PTTPX	Pimco Total Return	Pair Corr
0.9	PTRRX	Total Return	Pair Corr
0.9	PTRAX	Total Return	Pair Corr
0.9	PTTRX	Total Return	Pair Corr
0.9	FIWGX	Strategic Advisers	Pair Corr
0.9	DODIX	Dodge Income	Pair Corr
0.66	MWTIX	Metropolitan West Total	Pair Corr
0.63	BXDYX	Barings Active Short	Pair Corr
0.74	ASMOX	Aqr Small Cap	Pair Corr
0.67	VWWYX	Vwwyx	Pair Corr
0.66	PNRZX	Pgim Jennison Natural	Pair Corr
0.78	AREMX	One Choice 2055	Pair Corr
0.65	JAGQX	John Hancock Trust	Pair Corr
0.81	FAHAX	Fahax	Pair Corr
0.68	RTNCX	Tax-managed International	Pair Corr
0.83	DIFAX	Mfs Diversified Income	Pair Corr
0.78	LMIYX	Lord Abbett Micro	Pair Corr
0.9	FNDSX	Fidelity Sustainability	Pair Corr
0.83	LENAX	Blackrock Lifepath Esg	Pair Corr
0.9	FEBDX	Fidelity Advisor Env	Pair Corr
0.78	ALFVX	Lord Abbett Alpha	Pair Corr
0.65	VFIJX	Vanguard Gnma	Pair Corr

Moving against Baird Mutual Fund

0.35

XNBHX

Neuberger Berman Int

Pair Corr

Related Correlations Analysis

	UIINX	APDKX	PDBZX	PIMIX	BAGIX
UIINX		0.79	0.65	0.64	0.99	UIINX
APDKX	0.79		0.53	0.55	0.78	APDKX
PDBZX	0.65	0.53		0.99	0.66	PDBZX
PIMIX	0.64	0.55	0.99		0.64	PIMIX
BAGIX	0.99	0.78	0.66	0.64		BAGIX
	UIINX	APDKX	PDBZX	PIMIX	BAGIX

Risk-Adjusted Indicators

There is a big difference between Baird Mutual Fund performing well and Baird Core 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 Core'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
UIINX	0.19	0.04	(0.34)	(1.54)	0.00	(0.26)	0.52	(0.26)	1.15
APDKX	0.44	0.08	(0.08)	(0.43)	0.48	(0.46)	1.08	(0.82)	2.61
PDBZX	0.24	0.04	(0.27)	0.72	0.00	(0.32)	0.60	(0.34)	1.19
PIMIX	0.21	0.04	(0.24)	0.55	0.00	(0.31)	0.56	(0.28)	1.15
BAGIX	0.22	0.03	(0.31)	3.69	0.00	(0.30)	0.51	(0.31)	1.25

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