Adjusting in-line xy-pic diagrams to the baseline
Here is one possible way
\documentclass{article}
\usepackage[all]{xy}
\begin{document}
Consider the diagram $\xy (0,12)+{\xymatrix { & \bullet \ar[dr] & \\ \bullet
\ar[rr] \ar[ur] & & \bullet }} \endxy$ with appropriate baseline.
\end{document}
The \xymatrix
produces an object that can be shifted in standard xy
style , here by (0,12)
in the natural coordinate system, meaning 0
to the right and 12
up.
You can raise the diagram by its depth (the vertical extent below the baseline), but also taking into account that the \xymatrix
is surrounded by \fboxsep
space around all sides.
\documentclass{article}
\usepackage{amsmath}
\usepackage[all,cmtip]{xy}
\begin{document}
Consider the diagram
\raisebox{\dimexpr\depth-\fboxsep}{%
$\xymatrix{ & \bullet \ar[dr] & \\ \bullet \ar[rr] \ar[ur] & & \bullet }$%
}
blah blah blah
\end{document}
I'd also make it smaller, if you really want it to be inline.
\documentclass{article}
\usepackage{amsmath}
\usepackage[all,cmtip]{xy}
\begin{document}
Consider the diagram
\raisebox{\dimexpr\depth-\fboxsep}{%
$\xymatrix@R-1pc@C-1pc{ & \bullet \ar[dr] & \\ \bullet \ar[rr] \ar[ur] & & \bullet }$%
}
blah blah blah
\end{document}