Baron Discovery Correlations

BDFFX Fund

USD 30.50 0.24 0.78%

The current 90-days correlation between Baron Discovery and Baron Global Advantage is 0.81 (i.e., Very poor diversification). The correlation of Baron Discovery 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 Discovery Correlation With Market

Very weak diversification

The correlation between Baron Discovery Fund and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baron Discovery Fund 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 Discovery Fund. 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 census.

Moving together with Baron Mutual Fund

0.91	BREIX	Baron Real Estate	Pair Corr
0.91	BREFX	Baron Real Estate	Pair Corr
0.81	BSCFX	Baron Small Cap	Pair Corr
0.65	BARAX	Baron Asset Fund	Pair Corr
0.82	BSFIX	Baron Small Cap	Pair Corr
0.67	BARIX	Baron Asset Fund	Pair Corr
0.88	BTEEX	Baron Select Funds	Pair Corr
0.88	BTECX	Baron Select Funds	Pair Corr
0.88	BTEUX	Baron Select Funds	Pair Corr
0.93	BDAIX	Baron Durable Advantage	Pair Corr
0.93	BDAFX	Baron Durable Advantage	Pair Corr
1.0	BDFIX	Baron Discovery	Pair Corr
0.89	BWBIX	Baron Wealthbuilder	Pair Corr
0.89	BWBFX	Baron Wealthbuilder	Pair Corr
0.89	BFGIX	Baron Focused Growth	Pair Corr
0.88	BFGFX	Baron Focused Growth	Pair Corr
0.92	BFTHX	Baron Fifth Avenue	Pair Corr
0.92	BFTIX	Baron Fifth Avenue	Pair Corr
0.91	BGAIX	Baron Global Advantage	Pair Corr
0.91	BGAFX	Baron Global Advantage	Pair Corr
0.64	BGRIX	Baron Growth	Pair Corr
0.63	BGRFX	Baron Growth	Pair Corr
0.96	BHCHX	Baron Health Care	Pair Corr
0.96	BHCFX	Baron Health Care	Pair Corr
0.88	BIOPX	Baron Opportunity	Pair Corr
0.88	BIOIX	Baron Opportunity	Pair Corr
0.64	BPTRX	Baron Partners	Pair Corr
0.64	BPTIX	Baron Partners	Pair Corr
0.89	VSGAX	Vanguard Small Cap	Pair Corr
0.89	VSGIX	Vanguard Small Cap	Pair Corr
0.89	VISGX	Vanguard Small Cap	Pair Corr
0.71	VEXPX	Vanguard Explorer	Pair Corr
0.71	VEXRX	Vanguard Explorer	Pair Corr

Moving against Baron Mutual Fund

0.32	BEXIX	Baron Emerging Markets	Pair Corr
0.32	BEXFX	Baron Emerging Markets	Pair Corr

Related Correlations Analysis

	BGAFX	BIOPX	BFTHX	BFGFX	BREFX
BGAFX		0.91	0.94	0.89	0.92	BGAFX
BIOPX	0.91		0.98	0.97	0.91	BIOPX
BFTHX	0.94	0.98		0.98	0.92	BFTHX
BFGFX	0.89	0.97	0.98		0.9	BFGFX
BREFX	0.92	0.91	0.92	0.9		BREFX
	BGAFX	BIOPX	BFTHX	BFGFX	BREFX

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Risk-Adjusted Indicators

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

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
BGAFX	1.23	(0.06)	(0.12)	2.12	(3.17)	8.92
BIOPX	1.37	(0.17)	(0.19)	2.18	(3.78)	7.81
BFTHX	1.40	(0.15)	(0.19)	2.57	(3.16)	9.42
BFGFX	0.93	(0.12)	(0.21)	1.73	(2.23)	6.31
BREFX	0.99	(0.10)	(0.17)	1.65	(2.72)	4.86

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