Brown Advisory Correlations

BIAIX Fund

USD 9.71 0.01 0.10%

The current 90-days correlation between Brown Advisory Inter and Dunham Large Cap is 0.1 (i.e., Average diversification). The correlation of Brown Advisory 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.

Brown Advisory Correlation With Market

Average diversification

The correlation between Brown Advisory Intermediate and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Brown Advisory Intermediate 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 Brown Advisory Intermediate. 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 Brown Mutual Fund

0.93	BAFHX	Brown Advisory	Pair Corr
1.0	BAFZX	Brown Advisory Mortgage	Pair Corr
0.65	BAFQX	Brown Advisory	Pair Corr
0.93	BAHAX	Brown Advisory	Pair Corr
0.99	BAISX	Brown Advisory Susta	Pair Corr
0.93	BAIAX	Brown Advisory Inter	Pair Corr
0.67	BAQAX	Brown Advisory	Pair Corr
0.92	BASBX	Brown Advisory Susta	Pair Corr
0.66	BTEIX	Brown Advisory Tax	Pair Corr
0.93	BIAHX	Brown Advisory	Pair Corr
0.71	BIAEX	Brown Advisory Tax	Pair Corr
1.0	BIAZX	Brown Advisory Mortgage	Pair Corr
0.68	BIAQX	Brown Advisory	Pair Corr
0.73	BIAMX	Brown Advisory Maryland	Pair Corr
0.9	VBIRX	Vanguard Short Term	Pair Corr

Moving against Brown Mutual Fund

0.77	BAWAX	Brown Advisory Susta	Pair Corr
0.76	BAFWX	Brown Advisory Susta	Pair Corr
0.71	BAUAX	Brown Advisory Small	Pair Corr
0.7	BAFMX	Brown Advisory Mid	Pair Corr
0.7	BAFGX	Brown Advisory Growth	Pair Corr
0.7	BAGAX	Brown Advisory Growth	Pair Corr
0.7	BAUUX	Brown Advisory Small	Pair Corr
0.7	BIAGX	Brown Advisory Growth	Pair Corr
0.64	BASAX	Brown Advisory Small	Pair Corr
0.63	BAFSX	Brown Advisory Small	Pair Corr
0.53	BAFAX	Brown Advisory Flexible	Pair Corr
0.53	BAFYX	Brown Advisory Funds	Pair Corr
0.52	BAFFX	Brown Advisory Flexible	Pair Corr
0.51	BVALX	Brown Advisory	Pair Corr
0.76	BIAWX	Brown Advisory Susta	Pair Corr
0.71	BIAUX	Brown Advisory Small	Pair Corr
0.7	BMIDX	Brown Advisory Mid	Pair Corr
0.69	GCAVX	Gmo Small Cap	Pair Corr
0.63	BIASX	Brown Advisory Small	Pair Corr
0.53	BIAFX	Brown Advisory Flexible	Pair Corr
0.52	BIAVX	Brown Advisory	Pair Corr
0.49	BIAYX	Brown Advisory Funds	Pair Corr

Related Correlations Analysis

	DNLVX	CMIFX	OAKLX	FCLKX	JDVNX	PCPAX	PAVLX
DNLVX		-0.14	0.92	0.78	0.69	0.49	0.62	DNLVX
CMIFX	-0.14		-0.15	-0.36	-0.33	0.65	0.52	CMIFX
OAKLX	0.92	-0.15		0.84	0.74	0.52	0.65	OAKLX
FCLKX	0.78	-0.36	0.84		0.75	0.42	0.56	FCLKX
JDVNX	0.69	-0.33	0.74	0.75		0.26	0.39	JDVNX
PCPAX	0.49	0.65	0.52	0.42	0.26		0.97	PCPAX
PAVLX	0.62	0.52	0.65	0.56	0.39	0.97		PAVLX
	DNLVX	CMIFX	OAKLX	FCLKX	JDVNX	PCPAX	PAVLX

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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

PAVLX	+ 0.97	PCPAX
OAKLX	+ 0.92	DNLVX
FCLKX	+ 0.84	OAKLX
FCLKX	+ 0.78	DNLVX
JDVNX	+ 0.75	FCLKX
JDVNX	+ 0.74	OAKLX

High negative correlations

FCLKX	- 0.36	CMIFX
JDVNX	- 0.33	CMIFX
OAKLX	- 0.15	CMIFX
CMIFX	- 0.14	DNLVX

Risk-Adjusted Indicators

There is a big difference between Brown Mutual Fund performing well and Brown Advisory 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 Brown Advisory'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
DNLVX	0.68	(0.07)	0.00	3.56	0.00	0.00	1.24	(1.35)	4.81
CMIFX	0.07	0.01	0.10	(0.56)	0.00	(0.12)	0.20	(0.10)	0.41
OAKLX	0.77	(0.03)	0.00	0.20	0.00	0.00	1.43	(1.88)	3.58
FCLKX	0.80	(0.01)	(0.01)	(0.01)	1.14	(0.78)	1.58	(1.89)	5.00
JDVNX	0.81	(0.15)	0.00	(0.19)	0.00	0.00	1.24	(1.63)	10.15
PCPAX	0.57	0.09	0.14	0.12	0.53	(0.69)	1.23	(1.11)	3.20
PAVLX	0.59	0.08	0.13	0.12	0.54	(0.70)	1.30	(1.02)	3.20

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