Baird Aggregate Correlations

BAGIX Fund

USD 9.81 0.02 0.20%

The current 90-days correlation between Baird Aggregate Bond and Vanguard Total Bond is -0.03 (i.e., Good diversification). The correlation of Baird Aggregate 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 Aggregate Correlation With Market

Modest diversification

The correlation between Baird Aggregate Bond and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baird Aggregate 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 Aggregate 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

0.95	BAGSX	Baird Aggregate Bond	Pair Corr
0.76	BSNSX	Baird Strategic Municipal	Pair Corr
0.73	BSNIX	Baird Strategic Municipal	Pair Corr
1.0	BCOSX	Baird E Plus	Pair Corr
0.96	BCOIX	Baird E Plus	Pair Corr
0.94	BIMSX	Baird Intermediate Bond	Pair Corr
0.94	BIMIX	Baird Intermediate Bond	Pair Corr
0.89	BMBSX	Baird Quality Interm	Pair Corr
0.9	BMBIX	Baird Quality Interm	Pair Corr
0.78	BMNSX	Baird E Intermediate	Pair Corr
0.81	BMNIX	Baird E Intermediate	Pair Corr
0.82	BMQSX	Baird Municipal Bond	Pair Corr
0.81	BMQIX	Baird Municipal Bond	Pair Corr
0.99	VBTLX	Vanguard Total Bond	Pair Corr
0.95	VBMFX	Vanguard Total Bond	Pair Corr
0.95	VBTIX	Vanguard Total Bond	Pair Corr
0.95	VTBSX	Vanguard Total Bond	Pair Corr
0.95	VTBIX	Vanguard Total Bond	Pair Corr
0.95	VTBNX	Vanguard Total Bond	Pair Corr
0.95	BFAFX	Bond Fund	Pair Corr
0.95	ABNDX	Bond Fund	Pair Corr
0.95	BFACX	Bond Fund	Pair Corr
0.99	FFBOX	American Funds	Pair Corr

Moving against Baird Mutual Fund

0.48	BSVSX	Baird Smallcap Value	Pair Corr
0.48	BSVIX	Baird Smallcap Value	Pair Corr
0.41	BSGSX	Baird Smallmid Cap	Pair Corr
0.41	BSGIX	Baird Smallmid Cap	Pair Corr
0.31	BUBIX	Baird Ultra Short	Pair Corr
0.31	BUBSX	Baird Ultra Short	Pair Corr
0.42	RGAAX	Growth Fund	Pair Corr
0.41	GMCQX	Gmo Equity Allocation	Pair Corr
0.37	VFINX	Vanguard 500 Index	Pair Corr
0.37	VFIAX	Vanguard 500 Index	Pair Corr
0.34	GCAVX	Gmo Small Cap	Pair Corr
0.31	CGCYX	Columbia Greater China	Pair Corr

Related Correlations Analysis

	VBMFX	SCRYY	AQUI	MSTSX	LBHIX	ID	SCAXF	VIASP	AAEVX	RRTLX
VBMFX		-0.05	0.0	-0.2	0.09	-0.5	0.0	-0.06	-0.32	0.03	VBMFX
SCRYY	-0.05		0.0	0.83	0.77	0.32	0.0	0.44	0.77	0.8	SCRYY
AQUI	0.0	0.0		0.0	0.0	0.0	-1.0	0.0	0.0	0.0	AQUI
MSTSX	-0.2	0.83	0.0		0.84	0.44	0.0	0.41	0.91	0.89	MSTSX
LBHIX	0.09	0.77	0.0	0.84		0.25	0.0	0.54	0.8	0.86	LBHIX
ID	-0.5	0.32	0.0	0.44	0.25		0.0	0.29	0.58	0.42	ID
SCAXF	0.0	0.0	-1.0	0.0	0.0	0.0		0.0	0.0	0.0	SCAXF
VIASP	-0.06	0.44	0.0	0.41	0.54	0.29	0.0		0.52	0.51	VIASP
AAEVX	-0.32	0.77	0.0	0.91	0.8	0.58	0.0	0.52		0.93	AAEVX
RRTLX	0.03	0.8	0.0	0.89	0.86	0.42	0.0	0.51	0.93		RRTLX
	VBMFX	SCRYY	AQUI	MSTSX	LBHIX	ID	SCAXF	VIASP	AAEVX	RRTLX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

RRTLX	+ 0.93	AAEVX
AAEVX	+ 0.91	MSTSX
RRTLX	+ 0.89	MSTSX
RRTLX	+ 0.86	LBHIX
LBHIX	+ 0.84	MSTSX
MSTSX	+ 0.83	SCRYY

High negative correlations

SCAXF	- 1.0	AQUI
ID	- 0.5	VBMFX
AAEVX	- 0.32	VBMFX
MSTSX	- 0.2	VBMFX
VIASP	- 0.06	VBMFX
SCRYY	- 0.05	VBMFX

Risk-Adjusted Indicators

There is a big difference between Baird Mutual Fund performing well and Baird Aggregate 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 Aggregate'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
VBMFX	0.23	(0.02)	0.00	0.40	0.00	0.00	0.42	(0.62)	1.25
SCRYY	1.94	0.24	0.03	(8.82)	2.05	(2.53)	4.41	(4.09)	12.99
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MSTSX	0.53	(0.02)	(0.10)	0.13	0.47	(0.65)	1.21	(1.02)	2.79
LBHIX	0.12	0.03	(0.50)	0.81	0.00	(0.28)	0.24	(0.24)	0.96
ID	3.61	0.36	0.03	4.02	4.70	(4.64)	7.69	(7.69)	23.97
SCAXF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VIASP	0.79	0.15	0.00	2.33	1.01	(0.90)	2.09	(1.15)	7.18
AAEVX	0.53	0.14	(0.04)	(1.68)	0.43	(0.65)	1.32	(0.72)	3.24
RRTLX	0.24	0.05	(0.32)	7.00	0.11	(0.30)	0.65	(0.48)	1.37

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