The velocity drop with shortening a barrel is dependent on the cartridge ie bore size to powder quantity + powder used. A 45/70 will burn most if not all the powder in an 18" barrel. A 338RUM sure as hell won't.
Generally speaking the faster the projectile travels the greater the loss per inch of barrel lost. You can in my opinion go too short with some calibres. Like a bloke I came across who had an 18" barrel on his 375H&H, with a break on it. Every time he fired my chrony gave a false reading, and I had several grains of unburnt powder on my bench.
I can not see the sense in having say a 30-06 with a 20" barrel, you may as well save powder and get a 308. If you are spitting out a fair bit of unburnt powder you need a longer barrel or a different cartridge. Just remember the 375 and 416 Ruger use special powders to get their velocities in short barrels.
One thing is for sure, each barrel will be different.