Baron Opportunity Correlations

BIOUX Fund

USD 44.82 1.37 2.97%

The current 90-days correlation between Baron Opportunity and Aqr Risk Balanced Modities is 0.2 (i.e., Modest diversification). The correlation of Baron Opportunity 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 Opportunity Correlation With Market

Good diversification

The correlation between Baron Opportunity Fund and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baron Opportunity Fund 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 Opportunity Fund. 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 employment.

Moving together with BARON Mutual Fund

0.86	BREUX	Baron Real Estate	Pair Corr
0.8	BSCUX	Baron Small Cap	Pair Corr
0.66	BARUX	Baron Asset Fund	Pair Corr
0.95	BDAUX	Baron Durable Advantage	Pair Corr
0.84	BDFUX	Baron Discovery	Pair Corr
0.91	BWBTX	Baron Wealthbuilder	Pair Corr
0.9	BFGUX	Baron Focused Growth	Pair Corr
0.82	BFIUX	Baron Fintech	Pair Corr
0.98	BFTUX	Baron Fifth Avenue	Pair Corr
0.86	BGLUX	Baron Global Advantage	Pair Corr
0.65	BGRUX	Baron Growth Potential Growth	Pair Corr
0.81	BHCUX	Baron Health Care	Pair Corr
0.78	BPTUX	Baron Partners	Pair Corr
0.85	FAFGX	American Funds	Pair Corr
0.85	FFAFX	American Funds	Pair Corr
0.83	GFACX	Growth Fund	Pair Corr
0.88	GFAFX	Growth Fund	Pair Corr
0.89	AGTHX	Growth Fund	Pair Corr
0.85	CGFFX	Growth Fund	Pair Corr
0.86	CGFCX	Growth Fund	Pair Corr
0.88	CGFAX	Growth Fund	Pair Corr
0.88	CGFEX	Growth Fund	Pair Corr
0.85	RGAEX	Growth Fund	Pair Corr
0.92	DXQLX	Direxion Monthly Nasdaq	Pair Corr
0.92	RYVLX	Nasdaq 100 2x	Pair Corr
0.97	RYVYX	Nasdaq 100 2x	Pair Corr
0.93	UOPIX	Ultra Nasdaq 100	Pair Corr
0.9	RYCCX	Nasdaq 100 2x	Pair Corr
0.93	UOPSX	Ultranasdaq 100 Profund	Pair Corr
0.87	INPIX	Internet Ultrasector	Pair Corr
0.92	INPSX	Internet Ultrasector	Pair Corr

Moving against BARON Mutual Fund

0.66	RAMCX	Short Term Bond	Pair Corr
0.65	MWLNX	Metropolitan West Low	Pair Corr
0.6	RBOHX	Intermediate Bond	Pair Corr
0.5	PONAX	Pimco Income	Pair Corr
0.33	FGADX	Franklin Gold Precious Steady Growth	Pair Corr

Related Correlations Analysis

	ARCNX	DBELX	PCEMX	EGLNX	ANBIX	PACEX	XMSDX
ARCNX		0.52	0.52	0.73	0.63	0.55	0.49	ARCNX
DBELX	0.52		0.88	0.0	0.88	0.9	0.83	DBELX
PCEMX	0.52	0.88		0.09	0.73	0.76	0.78	PCEMX
EGLNX	0.73	0.0	0.09		0.18	0.05	0.18	EGLNX
ANBIX	0.63	0.88	0.73	0.18		0.98	0.84	ANBIX
PACEX	0.55	0.9	0.76	0.05	0.98		0.82	PACEX
XMSDX	0.49	0.83	0.78	0.18	0.84	0.82		XMSDX
	ARCNX	DBELX	PCEMX	EGLNX	ANBIX	PACEX	XMSDX

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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

PACEX	+ 0.98	ANBIX
PACEX	+ 0.9	DBELX
PCEMX	+ 0.88	DBELX
ANBIX	+ 0.88	DBELX
XMSDX	+ 0.84	ANBIX
XMSDX	+ 0.83	DBELX

High negative correlations

EGLNX

- 0.0

DBELX

Risk-Adjusted Indicators

There is a big difference between BARON Mutual Fund performing well and Baron Opportunity 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 Opportunity'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
ARCNX	0.59	0.13	0.25	0.66	0.58	(0.64)	1.25	(1.27)	5.05
DBELX	0.33	0.02	0.33	1.22	0.29	(0.42)	0.71	(0.58)	1.78
PCEMX	0.70	0.07	0.15	0.10	0.88	(0.76)	1.46	(1.61)	5.81
EGLNX	1.07	0.08	0.08	0.02	1.46	(1.06)	1.97	(2.57)	6.25
ANBIX	0.15	0.01	0.52	(0.49)	0.08	(0.21)	0.38	(0.38)	0.98
PACEX	0.12	0.01	0.68	(0.39)	0.00	(0.20)	0.33	(0.22)	0.76
XMSDX	0.26	(0.02)	0.00	(0.88)	0.00	0.00	0.51	(0.38)	4.05

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