Baird Midcap Correlations

BMDIX Fund

USD 19.78 0.09 0.46%

The current 90-days correlation between Baird Midcap and Baird Midcap Fund is 1.0 (i.e., No risk reduction). The correlation of Baird Midcap 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 Midcap Correlation With Market

Weak diversification

The correlation between Baird Midcap Fund and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baird Midcap Fund 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 Midcap Fund. 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

0.76	BSBSX	Baird Short Term	Pair Corr
0.61	BSNSX	Baird Strategic Municipal	Pair Corr
0.98	BSVSX	Baird Smallcap Value	Pair Corr
0.98	BSVIX	Baird Smallcap Value	Pair Corr
0.7	BTMSX	Baird Short Term	Pair Corr
0.72	BMBSX	Baird Quality Interm	Pair Corr
0.69	BMBIX	Baird Quality Interm	Pair Corr
1.0	BMDSX	Baird Midcap	Pair Corr
0.77	CCGIX	Chautauqua Global Growth	Pair Corr
0.91	CCGSX	Chautauqua Global Growth	Pair Corr
0.65	CCWIX	Chautauqua International	Pair Corr
0.9	PAMCX	T Rowe Price	Pair Corr
0.75	RRMGX	T Rowe Price	Pair Corr
0.9	PEMGX	Midcap Fund Class	Pair Corr
0.91	PMBCX	Midcap Fund Class	Pair Corr
0.91	TRQZX	T Rowe Price	Pair Corr
0.76	RPMGX	T Rowe Price	Pair Corr
0.89	TRUZX	T Rowe Price	Pair Corr
0.79	JGRCX	Janus Enterprise	Pair Corr

Related Correlations Analysis

	BMDSX	LEVIX	LEVOX	SLGFX	RYTFX	PACIX	GGOAX	ARTTX	SFAAX
BMDSX		0.42	0.61	0.88	0.9	0.43	0.91	0.81	0.9	BMDSX
LEVIX	0.42		0.69	0.59	0.48	0.37	0.39	0.54	0.42	LEVIX
LEVOX	0.61	0.69		0.82	0.68	0.54	0.54	0.77	0.59	LEVOX
SLGFX	0.88	0.59	0.82		0.87	0.47	0.8	0.87	0.87	SLGFX
RYTFX	0.9	0.48	0.68	0.87		0.39	0.91	0.83	0.85	RYTFX
PACIX	0.43	0.37	0.54	0.47	0.39		0.42	0.69	0.38	PACIX
GGOAX	0.91	0.39	0.54	0.8	0.91	0.42		0.77	0.92	GGOAX
ARTTX	0.81	0.54	0.77	0.87	0.83	0.69	0.77		0.76	ARTTX
SFAAX	0.9	0.42	0.59	0.87	0.85	0.38	0.92	0.76		SFAAX
	BMDSX	LEVIX	LEVOX	SLGFX	RYTFX	PACIX	GGOAX	ARTTX	SFAAX

Risk-Adjusted Indicators

There is a big difference between Baird Mutual Fund performing well and Baird Midcap 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 Midcap'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
BMDSX	0.96	0.19	0.18	0.35	0.63	(1.11)	1.80	(1.44)	16.73
LEVIX	1.13	0.05	0.06	0.12	1.26	(1.34)	2.41	(2.60)	6.08
LEVOX	1.08	0.10	0.08	0.18	1.07	(1.34)	2.41	(2.01)	5.99
SLGFX	0.59	0.09	0.07	0.25	0.56	(0.65)	1.20	(1.11)	4.23
RYTFX	0.99	0.25	0.28	0.28	0.40	(1.35)	2.21	(1.67)	15.33
PACIX	0.79	0.02	(0.04)	0.21	0.98	(0.80)	1.64	(1.48)	3.86
GGOAX	1.55	0.62	0.46	(1.58)	0.51	(2.20)	1.54	(1.65)	39.23
ARTTX	0.98	0.04	0.02	0.13	1.06	(1.03)	1.94	(1.98)	7.45
SFAAX	0.63	0.26	0.29	(2.59)	0.00	(0.76)	0.89	(0.87)	13.82

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Baird Midcap Correlations

Baird Midcap Correlation With Market

Weak diversification

Moving together with Baird Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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