Baron Durable Correlations

Mutual Funds USA . 
Fund . Baron Durable Advantage
BDAUX Fund  USD 27.78  0.61  2.25%   
The current 90-days correlation between Baron Durable Advantage and Virtus High Yield is 0.5 (i.e., Very weak diversification). The correlation of Baron Durable 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.

Baron Durable Correlation With Market

Poor diversification

The correlation between Baron Durable Advantage and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baron Durable Advantage 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 Baron Durable Advantage. 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 employment.

Moving together with Baron Mutual Fund

  0.93BREUX Baron Real EstatePairCorr
  0.87BSCUX Baron Small CapPairCorr
  0.81BARUX Baron Asset FundPairCorr
  0.93BDFUX Baron DiscoveryPairCorr
  0.98BWBTX Baron WealthbuilderPairCorr
  0.97BFGUX Baron Focused GrowthPairCorr
  0.81BFIUX Baron FintechPairCorr
  0.98BFTUX Baron Fifth AvenuePairCorr
  0.9BGLUX Baron Global AdvantagePairCorr
  0.82BGRUX Baron GrowthPairCorr
  0.91BHCUX Baron Health CarePairCorr
  0.97BIOUX Baron OpportunityPairCorr
  0.84BPTUX Baron PartnersPairCorr
  0.92FAFGX American FundsPairCorr
  0.92FFAFX American FundsPairCorr
  0.91GFACX Growth FundPairCorr
  0.82GFAFX Growth FundPairCorr
  0.98AGTHX Growth FundPairCorr
  0.92CGFFX Growth FundPairCorr
  0.8CGFCX Growth FundPairCorr
  0.92CGFAX Growth FundPairCorr
  0.92CGFEX Growth FundPairCorr
  0.92RGAEX Growth FundPairCorr
  0.68SMPIX Semiconductor UltrasectorPairCorr
  0.93CISGX Touchstone Sands CapitalPairCorr
  0.64SMPSX Semiconductor UltrasectorPairCorr

Moving against Baron Mutual Fund

  0.45BEXUX Baron Emerging MarketsPairCorr
  0.62ADVNX Advisory ResearchPairCorr
  0.58THCAX Thornburg Core PlusPairCorr
  0.44QBDAX Quantified Managed IncomePairCorr
  0.41AILCX American Beacon IntePairCorr
  0.38BRXVX Mfs Blended ResearchPairCorr
  0.33SGDIX Deutsche Gold PreciousPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Baron Mutual Fund performing well and Baron Durable 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 Baron Durable'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.

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