Baird Midcap Fund Market Value
| BMDIX Fund | USD 23.52 0.15 0.63% |
| Symbol | Baird |
Baird Midcap 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Baird Midcap's mutual fund what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Baird Midcap.
| 03/20/2024 |
| 04/19/2024 |
If you would invest 0.00 in Baird Midcap on March 20, 2024 and sell it all today you would earn a total of 0.00 from holding Baird Midcap Fund or generate 0.0% return on investment in Baird Midcap over 30 days. Baird Midcap is related to or competes with Baird Aggregate, Baird Aggregate, Baird Short, Baird Short, Baird Strategic, Baird Strategic, and Baird Smallcap. The fund normally invests at least 80 percent of its net assets, plus any borrowings for investment purposes, in the equ... More
Baird Midcap Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Baird Midcap's mutual fund current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Baird Midcap Fund upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.1) | |||
| Maximum Drawdown | 3.75 | |||
| Value At Risk | (1.77) | |||
| Potential Upside | 1.3 |
Baird Midcap Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Baird Midcap's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Baird Midcap's standard deviation. In reality, there are many statistical measures that can use Baird Midcap historical prices to predict the future Baird Midcap's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.11) | |||
| Total Risk Alpha | (0.12) | |||
| Treynor Ratio | (0.02) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Baird Midcap's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Baird Midcap Backtested Returns
Baird Midcap secures Sharpe Ratio (or Efficiency) of -0.0722, which signifies that the fund had a -0.0722% return per unit of risk over the last 3 months. Baird Midcap Fund exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Baird Midcap's Mean Deviation of 0.7591, standard deviation of 0.9431, and Risk Adjusted Performance of (0.01) to double-check the risk estimate we provide. The fund shows a Beta (market volatility) of 1.38, which signifies a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Baird Midcap will likely underperform.
Auto-correlation | 0.75 |
Good predictability
Baird Midcap Fund has good predictability. Overlapping area represents the amount of predictability between Baird Midcap time series from 20th of March 2024 to 4th of April 2024 and 4th of April 2024 to 19th of April 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Baird Midcap price movement. The serial correlation of 0.75 indicates that around 75.0% of current Baird Midcap price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.75 | |
| Spearman Rank Test | 0.47 | |
| Residual Average | 0.0 | |
| Price Variance | 0.34 |
Baird Midcap lagged returns against current returns
Autocorrelation, which is Baird Midcap mutual fund's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Baird Midcap's mutual fund expected returns. We can calculate the autocorrelation of Baird Midcap returns to help us make a trade decision. For example, suppose you find that Baird Midcap has exhibited high autocorrelation historically, and you observe that the mutual fund is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Baird Midcap regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Baird Midcap mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Baird Midcap mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Baird Midcap mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Baird Midcap Lagged Returns
When evaluating Baird Midcap's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Baird Midcap mutual fund have on its future price. Baird Midcap autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Baird Midcap autocorrelation shows the relationship between Baird Midcap mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Baird Midcap Fund.
Regressed Prices |
| Timeline |
Pair Trading with Baird Midcap
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Baird Midcap position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Baird Midcap will appreciate offsetting losses from the drop in the long position's value.Moving together with Baird Mutual Fund
| 0.92 | BSGSX | Baird Smallmid Cap | PairCorr |
| 1.0 | BMDSX | Baird Midcap | PairCorr |
| 0.89 | PAMCX | T Rowe Price | PairCorr |
| 0.89 | RRMGX | T Rowe Price | PairCorr |
Moving against Baird Mutual Fund
| 0.45 | XPPRX | Voya Prime Rate | PairCorr |
The ability to find closely correlated positions to Baird Midcap could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Baird Midcap when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Baird Midcap - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Baird Midcap Fund to buy it.
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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Baird Midcap moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Baird Midcap moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Baird Midcap can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Baird Midcap Correlation, Baird Midcap Volatility and Baird Midcap Alpha and Beta module to complement your research on Baird Midcap. You can also try the Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
Baird Midcap technical mutual fund analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, fund market cycles, or different charting patterns.