Baron Discovery Correlations

Mutual Funds . USA . 
Fund . Baron Discovery Fund
BDFIX Fund  USD 31.42  0.25  0.79%   
The current 90-days correlation between Baron Discovery and Baron Partners Fund is 0.66 (i.e., 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 gross domestic product.

Moving together with Baron Mutual Fund

  0.91BREIX Baron Real EstatePairCorr
  0.91BREFX Baron Real EstatePairCorr
  0.81BSCFX Baron Small CapPairCorr
  0.64BARAX Baron Asset FundPairCorr
  0.82BSFIX Baron Small CapPairCorr
  0.66BARIX Baron Asset FundPairCorr
  0.88BTEEX Baron Select FundsPairCorr
  0.88BTECX Baron Select FundsPairCorr
  0.88BTEUX Baron Select FundsPairCorr
  0.93BDAIX Baron Durable AdvantagePairCorr
  0.93BDAFX Baron Durable AdvantagePairCorr
  1.0BDFFX Baron DiscoveryPairCorr
  0.89BWBIX Baron WealthbuilderPairCorr
  0.89BWBFX Baron WealthbuilderPairCorr
  0.88BFGIX Baron Focused GrowthPairCorr
  0.88BFGFX Baron Focused GrowthPairCorr
  0.92BFTHX Baron Fifth AvenuePairCorr
  0.92BFTIX Baron Fifth AvenuePairCorr
  0.91BGAIX Baron Global AdvantagePairCorr
  0.91BGAFX Baron Global AdvantagePairCorr
  0.64BGRIX Baron GrowthPairCorr
  0.63BGRFX Baron GrowthPairCorr
  0.96BHCHX Baron Health CarePairCorr
  0.96BHCFX Baron Health CarePairCorr
  0.88BIOPX Baron OpportunityPairCorr
  0.88BIOIX Baron OpportunityPairCorr
  0.64BPTRX Baron PartnersPairCorr
  0.64BPTIX Baron PartnersPairCorr
  0.89VSGAX Vanguard Small CapPairCorr
  0.89VSGIX Vanguard Small CapPairCorr
  0.89VISGX Vanguard Small CapPairCorr
  0.71VEXPX Vanguard ExplorerPairCorr
  0.71VEXRX Vanguard ExplorerPairCorr

Moving against Baron Mutual Fund

  0.32BEXIX Baron Emerging MarketsPairCorr
  0.32BEXFX Baron Emerging MarketsPairCorr

Related Correlations Analysis

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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.

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