Baron Health Correlations

Mutual Funds . USA . 
Fund . Baron Health Care
BHCHX Fund  USD 18.99  0.02  0.11%   
The current 90-days correlation between Baron Health Care and Fidelity Real Estate is 0.54 (i.e., Very weak diversification). The correlation of Baron Health 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 Health Correlation With Market

Poor diversification

The correlation between Baron Health Care and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baron Health Care 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 Health Care. 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 rate.

Moving together with Baron Mutual Fund

  0.88BREIX Baron Real EstatePairCorr
  0.88BREFX Baron Real EstatePairCorr
  0.8BSCFX Baron Small CapPairCorr
  0.66BARAX Baron Asset FundPairCorr
  0.82BSFIX Baron Small CapPairCorr
  0.84BTEEX Baron Select FundsPairCorr
  0.84BTECX Baron Select FundsPairCorr
  0.91BDAIX Baron Durable AdvantagePairCorr
  0.91BDAFX Baron Durable AdvantagePairCorr
  0.96BDFIX Baron DiscoveryPairCorr
  0.96BDFFX Baron DiscoveryPairCorr
  0.88BWBIX Baron WealthbuilderPairCorr
  0.88BFGIX Baron Focused GrowthPairCorr
  0.87BFGFX Baron Focused GrowthPairCorr
  0.88BFTHX Baron Fifth AvenuePairCorr
  0.89BFTIX Baron Fifth AvenuePairCorr
  0.84BGAIX Baron Global AdvantagePairCorr
  0.84BGAFX Baron Global AdvantagePairCorr
  0.65BGRFX Baron GrowthPairCorr
  1.0BHCFX Baron Health CarePairCorr
  0.84BIOPX Baron OpportunityPairCorr
  0.84BIOIX Baron OpportunityPairCorr
  0.64BPTRX Baron PartnersPairCorr
  0.64BPTIX Baron PartnersPairCorr
  0.72PRHSX T Rowe PricePairCorr
  0.72THISX T Rowe PricePairCorr

Moving against Baron Mutual Fund

  0.37BEXIX Baron Emerging MarketsPairCorr
  0.37BEXFX Baron Emerging MarketsPairCorr
  0.4SAEMX Sa Emerging MarketsPairCorr
  0.38BISMX Brandes InternationalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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