Baillie Gifford Correlations

BCAKX
 Fund
  

USD 12.10  0.04  0.33%   

The correlation of Baillie Gifford is a statistical measure of how it moves in relation to other equities. 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 Baillie Gifford moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Baillie Gifford China 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.
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The ability to find closely correlated positions to Baillie Gifford could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Baillie Gifford 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 Baillie Gifford - 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 Baillie Gifford China to buy it.

Moving together with Baillie Gifford

+0.73FIQFXFIDELITY CHINA REGION Steady GrowthPairCorr
+0.75MCHFXMATTHEWS CHINA FUND Steady GrowthPairCorr
+0.74FHKTXFIDELITY CHINA REGION Steady GrowthPairCorr
+0.73FHKCXFIDELITY CHINA REGIONPairCorr
+0.74FCHKXFIDELITY CHINA REGIONPairCorr
+0.78FHKAXFIDELITY CHINA REGION Steady GrowthPairCorr
+0.78FHKIXFIDELITY CHINA REGION Steady GrowthPairCorr
+0.75MICFXMATTHEWS CHINA FUND Steady GrowthPairCorr
+0.71MCDFXMATTHEWS CHINA DIVIDENDPairCorr
+0.87MICHXMATTHEWS CHINA SMALL Steady GrowthPairCorr
+0.72XDSMXDreyfus StrategicPairCorr
+0.7XNXJXNuveen New JerseyPairCorr
+0.68XNKGXNuveen Georgia QualityPairCorr
+0.64XPPRXVoya Prime RatePairCorr
+0.72XNBHXNeuberger Berman IntPairCorr
+0.71XDMFXDreyfus MunicipalomePairCorr
+0.7XLEOXDreyfus StrategicPairCorr
+0.74XNBOXNeuberger Berman NewPairCorr
+0.75VZVerizon CommunicationsPairCorr

Related Correlations

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Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
KNGDD
KNGSCRYY
BRRAYDD
SCRYYDD
XTWOMICFX
KNGBRRAY
  
High negative correlations   
SVINDD
SVINBRRAY
KNGSVIN
SVINSCRYY
SVINMICFX

Risk-Adjusted Indicators

Nowadays, there is a big difference between Baillie Mutual Fund performing well and Baillie Gifford Mutual Fund doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze Baillie Gifford's multiple risk-adjusted performance indicators. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Baillie Gifford without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Invested in Baillie Gifford China?

The danger of trading Baillie Gifford China is mainly related to its market volatility and Mutual Fund specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Baillie Gifford is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Baillie Gifford. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Baillie Gifford China is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Continue to Trending Equities. You can also try Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.

Complementary Tools for analysis

When running Baillie Gifford China price analysis, check to measure Baillie Gifford's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Baillie Gifford is operating at the current time. Most of Baillie Gifford's value examination focuses on studying past and present price action to predict the probability of Baillie Gifford's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Baillie Gifford's price. Additionally, you may evaluate how the addition of Baillie Gifford to your portfolios can decrease your overall portfolio volatility.
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Please note, there is a significant difference between Baillie Gifford's value and its price as these two are different measures arrived at by different means. Investors typically determine Baillie Gifford value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Baillie Gifford's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.