Baird Quality Correlations

Mutual Funds . USA . 
Fund . Baird Quality Intermediate
BMBSX Fund  USD 11.39  0.01  0.09%   
The current 90-days correlation between Baird Quality Interm and Schwab Tax Free Bond is 0.9 (i.e., Almost no diversification). The correlation of Baird Quality 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 Quality Correlation With Market

Very good diversification

The correlation between Baird Quality Intermediate and DJI is -0.26 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baird Quality Intermediate 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 Quality Intermediate. 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

  0.84BAGIX Baird Aggregate BondPairCorr
  0.84BAGSX Baird Aggregate BondPairCorr
  0.66BSBIX Baird Short TermPairCorr
  0.68BSBSX Baird Short TermPairCorr
  0.94BSNSX Baird Strategic MunicipalPairCorr
  0.94BSNIX Baird Strategic MunicipalPairCorr
  0.84BTMSX Baird Short TermPairCorr
  0.75BTMIX Baird Short TermPairCorr
  0.85BCOSX Baird E PlusPairCorr
  0.85BCOIX Baird E PlusPairCorr
  0.84BIMSX Baird Intermediate BondPairCorr
  0.83BIMIX Baird Intermediate BondPairCorr
  1.0BMBIX Baird Quality IntermPairCorr
  0.96BMNSX Baird E IntermediatePairCorr
  0.96BMNIX Baird E IntermediatePairCorr
  0.97BMQSX Baird Municipal BondPairCorr
  0.97BMQIX Baird Municipal BondPairCorr
  0.98VWITX Vanguard IntermediatePairCorr
  0.97VWIUX Vanguard IntermediatePairCorr
  0.96AFTEX Tax Exempt BondPairCorr
  0.96AFTFX Tax Exempt BondPairCorr
  0.98TEBCX Tax Exempt BondPairCorr
  0.94TEAFX Tax Exempt BondPairCorr
  0.94TFEBX Tax Exempt BondPairCorr
  0.97FLTMX Fidelity IntermediatePairCorr
  0.95MDNLX Blackrock NationalPairCorr
  0.97MFNLX Blackrock Natl MuniPairCorr

Moving against Baird Mutual Fund

  0.47BUBIX Baird Ultra ShortPairCorr
  0.47BUBSX Baird Ultra ShortPairCorr
  0.44BSVSX Baird Smallcap ValuePairCorr
  0.44BSVIX Baird Smallcap ValuePairCorr
  0.38BSGSX Baird Smallmid CapPairCorr
  0.38BSGIX Baird Smallmid CapPairCorr
  0.59SMPIX Semiconductor UltrasectorPairCorr
  0.57SMPSX Semiconductor UltrasectorPairCorr
  0.51LSHUX Horizon Spin Off Steady GrowthPairCorr
  0.51LSHEX Kinetics Spin Off Steady GrowthPairCorr
  0.51LSHCX Horizon Spin Off Steady GrowthPairCorr
  0.51LSHAX Horizon Spin Off Steady GrowthPairCorr
  0.36RSNYX Victory Global NaturalPairCorr
  0.36RSNRX Victory Global NaturalPairCorr
  0.36RGNCX Victory Global NaturalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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