Baird Smallcap Correlations

Mutual Funds . USA . 
Fund . Baird Smallcap Value
BSVIX Fund  USD 16.52  0.09  0.54%   
The current 90-days correlation between Baird Smallcap Value and Vanguard Global Equity is 0.76 (i.e., Poor diversification). The correlation of Baird Smallcap 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 Smallcap Correlation With Market

Very poor diversification

The correlation between Baird Smallcap Value and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baird Smallcap Value 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 Smallcap Value. 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

  0.84BSBIX Baird Short TermPairCorr
  0.69BSGIX Baird Smallmid CapPairCorr
  0.93BSNSX Baird Strategic MunicipalPairCorr
  0.93BSNIX Baird Strategic MunicipalPairCorr
  1.0BSVSX Baird Smallcap ValuePairCorr
  0.95BTMSX Baird Short TermPairCorr
  0.63BTMIX Baird Short TermPairCorr
  0.93BUBIX Baird Ultra ShortPairCorr
  0.69BCOSX Baird E PlusPairCorr
  0.68BCOIX Baird E PlusPairCorr
  0.92BUBSX Baird Ultra ShortPairCorr
  0.72BIMSX Baird Intermediate BondPairCorr
  0.73BIMIX Baird Intermediate BondPairCorr
  0.71BMBSX Baird Quality IntermPairCorr
  0.7BMBIX Baird Quality IntermPairCorr
  0.7BMDSX Baird MidcapPairCorr
  0.7BMDIX Baird MidcapPairCorr
  0.91BMNSX Baird E IntermediatePairCorr
  0.92BMNIX Baird E IntermediatePairCorr
  0.7BMQSX Baird Municipal BondPairCorr
  0.82BMQIX Baird Municipal BondPairCorr
  0.92CCGIX Chautauqua Global GrowthPairCorr
  0.68CCGSX Chautauqua Global GrowthPairCorr
  0.88CCWIX Chautauqua InternationalPairCorr
  0.88CCWSX Chautauqua InternationalPairCorr
  0.99VSGAX Vanguard Small CapPairCorr
  0.67VSGIX Vanguard Small CapPairCorr
  0.67VISGX Vanguard Small CapPairCorr
  0.99VEXPX Vanguard ExplorerPairCorr
  0.99VEXRX Vanguard ExplorerPairCorr
  0.99JGMIX Janus TritonPairCorr
  0.99JGMRX Janus TritonPairCorr
  0.99JGMAX Janus TritonPairCorr
  0.99JGMCX Janus TritonPairCorr
  0.99JGMNX Janus TritonPairCorr
  0.68FTYPX Fidelity Freedom IndexPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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