Baird Ultra Correlations

BUBIX Fund

USD 10.15 0.01 0.1%

The current 90-days correlation between Baird Ultra Short and Vanguard Health Care is -0.06 (i.e., Good diversification). The correlation of Baird Ultra 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 Ultra Correlation With Market

Good diversification

The correlation between Baird Ultra Short and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baird Ultra Short 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 Ultra Short. 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

0.65	BAGIX	Baird Aggregate Bond	Pair Corr
0.87	BSBIX	Baird Short Term	Pair Corr
0.87	BSBSX	Baird Short Term	Pair Corr
0.85	BSNSX	Baird Strategic Municipal	Pair Corr
0.85	BSNIX	Baird Strategic Municipal	Pair Corr
0.66	BCOSX	Baird E Plus	Pair Corr
0.63	BCOIX	Baird E Plus	Pair Corr
0.89	BUBSX	Baird Ultra Short	Pair Corr
0.77	BIMSX	Baird Intermediate Bond	Pair Corr
0.78	BIMIX	Baird Intermediate Bond	Pair Corr
0.82	BMBSX	Baird Quality Interm	Pair Corr
0.8	BMBIX	Baird Quality Interm	Pair Corr
0.84	BMNSX	Baird E Intermediate	Pair Corr
0.85	BMNIX	Baird E Intermediate	Pair Corr
0.7	BMQSX	Baird Municipal Bond	Pair Corr
0.85	BMQIX	Baird Municipal Bond	Pair Corr
0.86	PTSPX	Pimco Short Term	Pair Corr
0.86	PTSHX	Short Term Fund	Pair Corr
0.87	PSFAX	Short Term Fund	Pair Corr
0.86	PTSRX	Short Term Fund	Pair Corr
0.85	PSDNX	Putnam Ultra Short	Pair Corr
0.85	LUSNX	Lord Abbett Ultra	Pair Corr
0.85	MUIIX	Ultra Short Income	Pair Corr
0.85	MUAIX	Ultra Short Income	Pair Corr
0.85	MULSX	Ultra Short Income	Pair Corr
0.67	VFIAX	Vanguard 500 Index	Pair Corr

Moving against Baird Mutual Fund

0.8	BMDSX	Baird Midcap	Pair Corr
0.77	BMDIX	Baird Midcap	Pair Corr
0.6	BSVIX	Baird Smallcap Value	Pair Corr
0.57	BSVSX	Baird Smallcap Value	Pair Corr
0.33	CCWSX	Chautauqua International	Pair Corr

Related Correlations Analysis

	VGHCX	AHSCX	RAGHX	SWHFX	GTHCX	PGHAX	BHSRX	HHCZX
VGHCX		0.96	0.87	0.97	0.96	0.89	0.99	0.37	VGHCX
AHSCX	0.96		0.85	0.93	0.94	0.86	0.97	0.21	AHSCX
RAGHX	0.87	0.85		0.89	0.92	0.98	0.89	0.2	RAGHX
SWHFX	0.97	0.93	0.89		0.97	0.91	0.97	0.31	SWHFX
GTHCX	0.96	0.94	0.92	0.97		0.91	0.97	0.28	GTHCX
PGHAX	0.89	0.86	0.98	0.91	0.91		0.9	0.23	PGHAX
BHSRX	0.99	0.97	0.89	0.97	0.97	0.9		0.3	BHSRX
HHCZX	0.37	0.21	0.2	0.31	0.28	0.23	0.3		HHCZX
	VGHCX	AHSCX	RAGHX	SWHFX	GTHCX	PGHAX	BHSRX	HHCZX

Risk-Adjusted Indicators

There is a big difference between Baird Mutual Fund performing well and Baird Ultra 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 Ultra'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
VGHCX	0.65	0.21	0.18	(45.93)	0.41	(0.74)	2.21	(1.18)	5.02
AHSCX	0.78	0.21	0.15	7.03	0.68	(0.87)	1.85	(1.53)	4.62
RAGHX	0.72	0.11	0.12	0.22	0.56	(0.91)	2.08	(1.20)	4.55
SWHFX	0.62	0.08	0.07	0.19	0.55	(0.72)	2.19	(1.20)	5.10
GTHCX	0.59	0.06	0.04	0.17	0.61	(0.67)	1.50	(1.31)	3.50
PGHAX	0.62	0.10	0.11	0.25	0.47	(0.72)	2.16	(1.06)	4.81
BHSRX	0.58	0.18	0.15	(6.41)	0.38	(0.65)	1.82	(1.23)	3.72
HHCZX	0.83	0.05	0.01	0.20	0.84	(1.07)	1.24	(1.51)	14.54

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