Baron Global Correlations

BGAIX Fund

USD 38.92 0.72 1.88%

The current 90-days correlation between Baron Global Advantage and Baron Partners Fund is 0.68 (i.e., 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 0.55 (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 gross domestic product.

Moving together with BARON Mutual Fund

0.93	BREIX	Baron Real Estate	Pair Corr
0.93	BREFX	Baron Real Estate	Pair Corr
0.78	BSCFX	Baron Small Cap	Pair Corr
0.68	BARAX	Baron Asset Fund	Pair Corr
0.79	BSFIX	Baron Small Cap	Pair Corr
0.69	BARIX	Baron Asset Fund	Pair Corr
0.89	BTEEX	Baron Select Funds	Pair Corr
0.93	BTECX	Baron Select Funds	Pair Corr
0.89	BTEUX	Baron Select Funds	Pair Corr
0.9	BDAIX	Baron Durable Advantage	Pair Corr
0.9	BDAFX	Baron Durable Advantage	Pair Corr
0.91	BDFIX	Baron Discovery	Pair Corr
0.91	BDFFX	Baron Discovery	Pair Corr
0.87	BWBIX	Baron Wealthbuilder	Pair Corr
0.87	BWBFX	Baron Wealthbuilder	Pair Corr
0.89	BFGIX	Baron Focused Growth	Pair Corr
0.89	BFGFX	Baron Focused Growth	Pair Corr
0.87	BFINX	Baron Fintech	Pair Corr
0.87	BFIIX	Baron Fintech	Pair Corr
0.94	BFTHX	Baron Fifth Avenue	Pair Corr
0.94	BFTIX	Baron Fifth Avenue	Pair Corr
1.0	BGAFX	Baron Global Advantage	Pair Corr
0.66	BGRIX	Baron Growth	Pair Corr
0.65	BGRFX	Baron Growth	Pair Corr
0.85	BHCHX	Baron Health Care	Pair Corr
0.85	BHCFX	Baron Health Care	Pair Corr
0.92	BIOPX	Baron Opportunity	Pair Corr
0.92	BIOIX	Baron Opportunity	Pair Corr
0.64	BPTRX	Baron Partners Steady Growth	Pair Corr
0.64	BPTIX	Baron Partners Steady Growth	Pair Corr
0.8	FNFPX	American Funds New	Pair Corr

Related Correlations Analysis

	BPTIX	BIOIX	BDFIX	BGRIX	BEXIX
BPTIX		0.87	0.65	0.78	-0.68	BPTIX
BIOIX	0.87		0.89	0.83	-0.45	BIOIX
BDFIX	0.65	0.89		0.73	-0.34	BDFIX
BGRIX	0.78	0.83	0.73		-0.41	BGRIX
BEXIX	-0.68	-0.45	-0.34	-0.41		BEXIX
	BPTIX	BIOIX	BDFIX	BGRIX	BEXIX

Click cells to compare fundamentals

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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

BDFIX	+ 0.89	BIOIX
BIOIX	+ 0.87	BPTIX
BGRIX	+ 0.83	BIOIX
BGRIX	+ 0.78	BPTIX
BGRIX	+ 0.73	BDFIX
BDFIX	+ 0.65	BPTIX

High negative correlations

BEXIX	- 0.68	BPTIX
BEXIX	- 0.45	BIOIX
BEXIX	- 0.41	BGRIX
BEXIX	- 0.34	BDFIX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
BPTIX	1.65	(0.31)	0.00	(0.26)	0.00	0.00	3.75	(3.28)	11.21
BIOIX	1.38	(0.18)	0.00	(0.17)	0.00	0.00	2.69	(3.80)	7.81
BDFIX	1.26	(0.04)	0.00	(0.07)	0.00	0.00	2.84	(3.50)	11.64
BGRIX	0.99	(0.21)	0.00	(0.20)	0.00	0.00	1.55	(1.67)	10.93
BEXIX	0.83	0.06	0.07	0.11	1.14	(0.80)	1.74	(1.89)	6.68

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