Baron Global Correlations

Mutual Funds . USA . 
Fund . Baron Global Advantage
BGAFX Fund  USD 38.89  0.08  0.21%   
The current 90-days correlation between Baron Global Advantage and Baron Opportunity Fund is 0.83 (i.e., Very poor diversification). The correlation of Baron Global 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 Global Correlation With Market

Very weak diversification

The correlation between Baron Global Advantage and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baron Global 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 Global 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 census.

Moving together with BARON Mutual Fund

  0.85BREIX Baron Real EstatePairCorr
  0.84BREFX Baron Real EstatePairCorr
  0.88BRIIX Baron Real EstatePairCorr
  0.93BSCFX Baron Small CapPairCorr
  0.93BARAX Baron Asset FundPairCorr
  0.93BSFIX Baron Small CapPairCorr
  0.93BARIX Baron Asset FundPairCorr
  0.96BTEEX Baron Select FundsPairCorr
  0.96BTECX Baron Select FundsPairCorr
  0.96BTEUX Baron Select FundsPairCorr
  0.87BDAIX Baron Durable AdvantagePairCorr
  0.87BDAFX Baron Durable AdvantagePairCorr
  0.96BDFIX Baron DiscoveryPairCorr
  0.96BDFFX Baron DiscoveryPairCorr
  0.96BWBIX Baron WealthbuilderPairCorr
  0.96BWBFX Baron WealthbuilderPairCorr
  0.96BFGIX Baron Focused GrowthPairCorr
  0.96BFGFX Baron Focused GrowthPairCorr
  0.97BFINX Baron FintechPairCorr
  0.97BFIIX Baron FintechPairCorr
  0.98BFTHX Baron Fifth AvenuePairCorr
  0.98BFTIX Baron Fifth AvenuePairCorr
  1.0BGAIX Baron Global AdvantagePairCorr
  0.8BGRIX Baron GrowthPairCorr
  0.79BGRFX Baron GrowthPairCorr
  0.95BIOPX Baron OpportunityPairCorr
  0.95BIOIX Baron OpportunityPairCorr
  0.86BPTRX Baron PartnersPairCorr
  0.86BPTIX Baron PartnersPairCorr
  0.68FNFPX American Funds NewPairCorr

Moving against BARON Mutual Fund

  0.73GAAGX Gmo Alternative AlloPairCorr
  0.71GAAKX Gmo Alternative AlloPairCorr
  0.7GPBFX Gmo E PlusPairCorr
  0.54BHCHX Baron Health CarePairCorr
  0.54BHCFX Baron Health CarePairCorr
  0.51GPMFX Guidepath Managed FuturesPairCorr

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 Global 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 Global'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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