Baird Midcap Correlations

Mutual Funds . USA . 
Fund . Baird Midcap Fund
BMDIX Fund  USD 22.98  0.03  0.13%   
The correlation of Baird Midcap 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 Midcap Correlation With Market

Almost no diversification

The correlation between Baird Midcap Fund and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baird Midcap Fund 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 Midcap Fund. 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

  0.73BSBIX Baird Short TermPairCorr
  0.77BSBSX Baird Short TermPairCorr
  0.98BSGSX Baird Smallmid CapPairCorr
  0.98BSGIX Baird Smallmid CapPairCorr
  0.89BSNSX Baird Strategic MunicipalPairCorr
  0.9BSNIX Baird Strategic MunicipalPairCorr
  0.96BSVSX Baird Smallcap ValuePairCorr
  0.96BSVIX Baird Smallcap ValuePairCorr
  0.87BTMSX Baird Short TermPairCorr
  0.88BTMIX Baird Short TermPairCorr
  0.85BUBIX Baird Ultra ShortPairCorr
  0.61BCOSX Baird E PlusPairCorr
  0.83BUBSX Baird Ultra ShortPairCorr
  0.62BIMSX Baird Intermediate BondPairCorr
  0.64BIMIX Baird Intermediate BondPairCorr
  0.88BMBSX Baird Quality IntermPairCorr
  0.89BMBIX Baird Quality IntermPairCorr
  1.0BMDSX Baird MidcapPairCorr
  0.89BMNSX Baird E IntermediatePairCorr
  0.89BMNIX Baird E IntermediatePairCorr
  0.83BMQSX Baird Municipal BondPairCorr
  0.84BMQIX Baird Municipal BondPairCorr
  0.95CCGIX Chautauqua Global GrowthPairCorr
  0.95CCGSX Chautauqua Global GrowthPairCorr
  0.92CCWIX Chautauqua InternationalPairCorr
  0.92CCWSX Chautauqua InternationalPairCorr
  0.98PAMCX T Rowe PricePairCorr
  0.98RRMGX T Rowe PricePairCorr
  0.98TRQZX T Rowe PricePairCorr
  0.98RPMGX T Rowe PricePairCorr
  0.98PRJIX T Rowe PricePairCorr
  0.97PRNHX T Rowe PricePairCorr
  0.97TRUZX T Rowe PricePairCorr
  0.95PCBIX Midcap Fund InstitutionalPairCorr
  0.99PEMGX Midcap Fund ClassPairCorr
  0.99PMBCX Midcap Fund ClassPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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