Baron Emerging Correlations

BEXFX Fund

USD 15.68 0.12 0.76%

The current 90-days correlation between Baron Emerging Markets and Fidelity International Growth is 0.66 (i.e., Poor diversification). The correlation of Baron Emerging 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 Emerging Correlation With Market

Weak diversification

The correlation between Baron Emerging Markets and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baron Emerging Markets 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 Emerging Markets. 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

1.0	BEXIX	Baron Emerging Markets	Pair Corr
0.76	BIGFX	Baron International	Pair Corr
0.76	BINIX	Baron International	Pair Corr
0.98	VEMAX	Vanguard Emerging Markets	Pair Corr

Moving against Baron Mutual Fund

0.52	BWBIX	Baron Wealthbuilder	Pair Corr
0.52	BWBFX	Baron Wealthbuilder	Pair Corr
0.52	BFGFX	Baron Focused Growth	Pair Corr
0.51	BFGIX	Baron Focused Growth	Pair Corr
0.49	BSCFX	Baron Small Cap	Pair Corr
0.49	BSFIX	Baron Small Cap	Pair Corr
0.47	BTEEX	Baron Select Funds	Pair Corr
0.47	BTEUX	Baron Select Funds	Pair Corr
0.47	BFTHX	Baron Fifth Avenue Steady Growth	Pair Corr
0.47	BFTIX	Baron Fifth Avenue	Pair Corr
0.45	BDAIX	Baron Durable Advantage	Pair Corr
0.45	BDAFX	Baron Durable Advantage	Pair Corr
0.44	BTECX	Baron Select Funds	Pair Corr
0.41	BGRIX	Baron Growth	Pair Corr
0.34	BDFFX	Baron Discovery	Pair Corr
0.33	BARAX	Baron Asset Fund	Pair Corr
0.33	BARIX	Baron Asset Fund	Pair Corr
0.33	BDFIX	Baron Discovery	Pair Corr
0.68	BPTRX	Baron Partners	Pair Corr
0.68	BPTIX	Baron Partners Steady Growth	Pair Corr
0.51	BINUX	Baron India R6	Pair Corr
0.51	BINRX	Baron India Retail	Pair Corr
0.5	BINDX	Baron India Institutional	Pair Corr
0.47	WRHIX	Ivy High Income	Pair Corr
0.45	BIOPX	Baron Opportunity	Pair Corr
0.45	BIOIX	Baron Opportunity	Pair Corr
0.42	WHIYX	Ivy High Income	Pair Corr
0.4	BGRFX	Baron Growth	Pair Corr
0.38	BHCHX	Baron Health Care	Pair Corr
0.38	BHCFX	Baron Health Care	Pair Corr

Related Correlations Analysis

	FIGFX	PARMX	DFDMX	TCMPX	FMIJX
FIGFX		0.34	0.49	0.69	0.9	FIGFX
PARMX	0.34		0.91	-0.25	0.38	PARMX
DFDMX	0.49	0.91		-0.14	0.48	DFDMX
TCMPX	0.69	-0.25	-0.14		0.62	TCMPX
FMIJX	0.9	0.38	0.48	0.62		FMIJX
	FIGFX	PARMX	DFDMX	TCMPX	FMIJX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

DFDMX	+ 0.91	PARMX
FMIJX	+ 0.9	FIGFX
TCMPX	+ 0.69	FIGFX
FMIJX	+ 0.62	TCMPX
DFDMX	+ 0.49	FIGFX
FMIJX	+ 0.48	DFDMX

High negative correlations

TCMPX	- 0.25	PARMX
TCMPX	- 0.14	DFDMX

Risk-Adjusted Indicators

There is a big difference between Baron Mutual Fund performing well and Baron Emerging 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 Emerging'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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FIGFX	0.77	0.03	0.04	0.01	1.09	(0.74)	1.48	(1.54)	5.34
PARMX	0.80	(0.13)	0.00	(0.19)	0.00	0.00	1.50	(2.04)	3.90
DFDMX	0.84	(0.04)	0.00	(0.08)	0.00	0.00	1.50	(2.03)	3.93
TCMPX	0.64	0.06	0.14	(0.44)	0.63	(0.83)	1.54	(1.27)	4.89
FMIJX	0.57	0.00	0.00	(0.04)	0.00	0.00	1.14	(1.31)	3.59

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