Baird Short-term Correlations

Mutual Funds . USA . 
Fund . Baird Short Term Bond
BSBIX Fund  USD 9.59  0.01  0.10%   
The current 90-days correlation between Baird Short Term and Baird Aggregate Bond is 0.73 (i.e., Poor diversification). The correlation of Baird Short-term 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-term Correlation With Market

Significant diversification

The correlation between Baird Short Term Bond 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 Bond 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 Bond. 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

  0.96BAGIX Baird Aggregate BondPairCorr
  0.96BAGSX Baird Aggregate BondPairCorr
  0.99BSBSX Baird Short TermPairCorr
  0.96BSNSX Baird Strategic MunicipalPairCorr
  0.96BSNIX Baird Strategic MunicipalPairCorr
  0.98BTMSX Baird Short TermPairCorr
  0.98BTMIX Baird Short TermPairCorr
  0.98BUBIX Baird Ultra ShortPairCorr
  0.97BCOSX Baird E PlusPairCorr
  0.97BCOIX Baird E PlusPairCorr
  0.98BUBSX Baird Ultra ShortPairCorr
  0.99BIMSX Baird Intermediate BondPairCorr
  0.99BIMIX Baird Intermediate BondPairCorr
  0.97BMBSX Baird Quality IntermPairCorr
  0.97BMBIX Baird Quality IntermPairCorr
  0.94BMNSX Baird E IntermediatePairCorr
  0.95BMNIX Baird E IntermediatePairCorr
  0.85BMQSX Baird Municipal BondPairCorr
  0.84BMQIX Baird Municipal BondPairCorr
  0.8CCGIX Chautauqua Global GrowthPairCorr
  0.79CCGSX Chautauqua Global GrowthPairCorr
  0.93VBIRX Vanguard Short TermPairCorr
  0.95VFSUX Vanguard Short TermPairCorr
  0.98VFSIX Vanguard Short TermPairCorr
  0.98VFSTX Vanguard Short TermPairCorr
  0.97VBITX Vanguard Short TermPairCorr
  0.97VBISX Vanguard Short TermPairCorr
  0.94LALDX Lord Abbett ShortPairCorr
  1.0VSCSX Vanguard Short TermPairCorr
  0.97LDLAX Lord Abbett ShortPairCorr
  0.96LDLRX Lord Abbett ShortPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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