Baird Core Correlations

Mutual Funds . USA . 
Fund . Baird E Plus
BCOSX Fund  USD 10.68  0.01  0.09%   
The current 90-days correlation between Baird E Plus and Metropolitan West Total is -0.03 (i.e., Good 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

Average diversification

The correlation between Baird E Plus and DJI is 0.19 (i.e., Average 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 state.

Moving together with Baird Mutual Fund

  1.0BAGIX Baird Aggregate BondPairCorr
  0.95BAGSX Baird Aggregate BondPairCorr
  0.77BSNSX Baird Strategic MunicipalPairCorr
  0.74BSNIX Baird Strategic MunicipalPairCorr
  0.62BTMSX Baird Short TermPairCorr
  0.95BCOIX Baird E PlusPairCorr
  0.94BIMSX Baird Intermediate BondPairCorr
  0.94BIMIX Baird Intermediate BondPairCorr
  0.9BMBSX Baird Quality IntermPairCorr
  0.91BMBIX Baird Quality IntermPairCorr
  0.79BMNSX Baird E IntermediatePairCorr
  0.82BMNIX Baird E IntermediatePairCorr
  0.83BMQSX Baird Municipal BondPairCorr
  0.83BMQIX Baird Municipal BondPairCorr
  0.93MWTNX Metropolitan West TotalPairCorr
  0.93MWTSX Metropolitan West TotalPairCorr
  0.95PTTPX Pimco Total ReturnPairCorr
  0.96PTRRX Total ReturnPairCorr
  0.96PTRAX Total ReturnPairCorr
  0.95PTTRX Total ReturnPairCorr
  0.99FIWGX Strategic AdvisersPairCorr
  0.95DODIX Dodge IncomePairCorr
  0.94MWTIX Metropolitan West TotalPairCorr
  0.94MWTRX Metropolitan West TotalPairCorr

Moving against Baird Mutual Fund

  0.45BSVSX Baird Smallcap ValuePairCorr
  0.45BSVIX Baird Smallcap ValuePairCorr
  0.38BSGSX Baird Smallmid CapPairCorr
  0.38BSGIX Baird Smallmid CapPairCorr
  0.48INPIX Internet UltrasectorPairCorr
  0.48INPSX Internet UltrasectorPairCorr
  0.44DXQLX Direxion Monthly NasdaqPairCorr
  0.44RYVLX Nasdaq 100 2xPairCorr
  0.44RYVYX Nasdaq 100 2xPairCorr
  0.44UOPIX Ultra Nasdaq 100PairCorr

Related Correlations Analysis

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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.

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