Baird Quality Correlations

BMBSX Fund

USD 11.48 0.01 0.09%

The current 90-days correlation between Baird Quality Interm and Blackrock Taxable Municipal is 0.28 (i.e., Modest 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

Average diversification

The correlation between Baird Quality Intermediate and DJI is 0.11 (i.e., Average 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 main economic indicators.

Moving together with Baird Mutual Fund

0.96	BAGIX	Baird Aggregate Bond	Pair Corr
0.97	BAGSX	Baird Aggregate Bond	Pair Corr
0.95	BSBIX	Baird Short Term	Pair Corr
0.95	BSBSX	Baird Short Term	Pair Corr
0.99	BSNSX	Baird Strategic Municipal	Pair Corr
0.99	BSNIX	Baird Strategic Municipal	Pair Corr
0.92	BTMSX	Baird Short Term	Pair Corr
0.95	BTMIX	Baird Short Term	Pair Corr
0.93	BUBIX	Baird Ultra Short	Pair Corr
0.96	BCOSX	Baird E Plus	Pair Corr
0.96	BCOIX	Baird E Plus	Pair Corr
0.95	BUBSX	Baird Ultra Short	Pair Corr
0.94	BIMSX	Baird Intermediate Bond	Pair Corr
0.94	BIMIX	Baird Intermediate Bond	Pair Corr
1.0	BMBIX	Baird Quality Interm	Pair Corr
1.0	BMNSX	Baird E Intermediate	Pair Corr
0.99	BMNIX	Baird E Intermediate	Pair Corr
0.98	BMQSX	Baird Municipal Bond	Pair Corr
0.99	BMQIX	Baird Municipal Bond	Pair Corr
0.9	CCGIX	Chautauqua Global Growth	Pair Corr
0.9	CCGSX	Chautauqua Global Growth	Pair Corr
0.78	CCWIX	Chautauqua International	Pair Corr
0.78	CCWSX	Chautauqua International	Pair Corr
0.99	VWITX	Vanguard Intermediate	Pair Corr
0.99	VWIUX	Vanguard Intermediate	Pair Corr
0.99	AFTEX	Tax Exempt Bond	Pair Corr
0.99	AFTFX	Tax Exempt Bond	Pair Corr
0.99	TEBCX	Tax Exempt Bond	Pair Corr
0.99	TEAFX	Tax Exempt Bond	Pair Corr
0.99	TFEBX	Tax Exempt Bond	Pair Corr
1.0	FLTMX	Fidelity Intermediate	Pair Corr
0.99	MDNLX	Blackrock National	Pair Corr
0.99	MFNLX	Blackrock Natl Muni	Pair Corr

Moving against Baird Mutual Fund

0.75	BMDSX	Baird Midcap	Pair Corr
0.75	BMDIX	Baird Midcap	Pair Corr

Related Correlations Analysis

	BBN	PUCZX	SIYYX	GWMTX	PNYAX	SSPIX	FLMFX	PABCX	PALRX	SWEGX
BBN		0.8	0.46	0.89	0.84	0.85	0.83	0.85	0.86	0.83	BBN
PUCZX	0.8		0.8	0.89	0.88	0.79	0.82	0.85	0.88	0.84	PUCZX
SIYYX	0.46	0.8		0.65	0.7	0.68	0.72	0.73	0.75	0.74	SIYYX
GWMTX	0.89	0.89	0.65		0.99	0.92	0.92	0.95	0.95	0.93	GWMTX
PNYAX	0.84	0.88	0.7	0.99		0.92	0.92	0.95	0.94	0.92	PNYAX
SSPIX	0.85	0.79	0.68	0.92	0.92		0.99	0.95	0.98	0.99	SSPIX
FLMFX	0.83	0.82	0.72	0.92	0.92	0.99		0.95	0.99	1.0	FLMFX
PABCX	0.85	0.85	0.73	0.95	0.95	0.95	0.95		0.96	0.94	PABCX
PALRX	0.86	0.88	0.75	0.95	0.94	0.98	0.99	0.96		0.99	PALRX
SWEGX	0.83	0.84	0.74	0.93	0.92	0.99	1.0	0.94	0.99		SWEGX
	BBN	PUCZX	SIYYX	GWMTX	PNYAX	SSPIX	FLMFX	PABCX	PALRX	SWEGX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
BBN	0.45	0.10	(0.04)	1.91	0.23	(0.58)	0.96	(0.68)	2.84
PUCZX	0.15	0.02	(0.50)	0.45	0.00	(0.19)	0.35	(0.24)	0.82
SIYYX	0.13	(0.02)	(0.49)	(0.01)	0.11	(0.23)	0.19	(0.37)	0.93
GWMTX	0.11	0.00	(0.50)	0.00	0.00	(0.16)	0.27	(0.18)	0.81
PNYAX	0.13	0.05	(0.53)	11.69	0.00	(0.21)	0.38	(0.19)	0.96
SSPIX	0.50	(0.01)	(0.02)	0.11	0.63	(0.55)	1.22	(0.99)	4.23
FLMFX	0.52	(0.02)	(0.03)	0.11	0.59	(0.57)	1.37	(0.77)	4.37
PABCX	0.32	0.07	(0.12)	7.62	0.28	(0.36)	0.86	(0.51)	2.67
PALRX	0.32	0.01	(0.10)	0.13	0.28	(0.36)	0.87	(0.52)	2.69
SWEGX	0.49	(0.01)	(0.03)	0.11	0.54	(0.55)	1.20	(0.75)	4.35

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