Brown Advisory Correlations

Mutual Funds . USA . 
Fund . Brown Advisory Mid Cap
BMIDX Fund  USD 17.55  0.07  0.40%   
The current 90-days correlation between Brown Advisory Mid and Evaluator Conservative Rms is 0.56 (i.e., Very weak 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

Very poor diversification

The correlation between Brown Advisory Mid Cap and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Brown Advisory Mid Cap 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 Mid Cap. 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 unemployment.

Moving together with Brown Mutual Fund

  1.0BAFMX Brown Advisory MidPairCorr
  0.75BAFLX Brown Advisory GlobalPairCorr
  0.98BAFGX Brown Advisory GrowthPairCorr
  0.99BAFFX Brown Advisory FlexiblePairCorr
  0.99BAFAX Brown Advisory FlexiblePairCorr
  0.98BAGAX Brown Advisory GrowthPairCorr
  0.92BAFYX Brown Advisory FundsPairCorr
  0.94BAFWX Brown Advisory SustaPairCorr
  0.94BAFSX Brown Advisory SmallPairCorr
  0.94BASAX Brown Advisory SmallPairCorr
  0.92BAUAX Brown Advisory SmallPairCorr
  0.92BAUUX Brown Advisory SmallPairCorr
  0.94BAWAX Brown Advisory SustaPairCorr
  0.74BIALX Brown Advisory GlobalPairCorr
  0.98BIAGX Brown Advisory GrowthPairCorr
  0.99BIAFX Brown Advisory FlexiblePairCorr
  0.92BIAYX Brown Advisory FundsPairCorr
  0.66BIAVX Brown AdvisoryPairCorr
  0.94BIAWX Brown Advisory SustaPairCorr
  0.92BIAUX Brown Advisory SmallPairCorr
  0.94BIASX Brown Advisory SmallPairCorr
  0.97PAMCX T Rowe PricePairCorr
  0.97RRMGX T Rowe PricePairCorr
  0.97TRQZX T Rowe PricePairCorr

Moving against Brown Mutual Fund

  0.71BAIAX Brown Advisory InterPairCorr
  0.71BASBX Brown Advisory SustaPairCorr
  0.69BAFZX Brown Advisory MortgagePairCorr
  0.67BAHAX Brown AdvisoryPairCorr
  0.66BAFHX Brown AdvisoryPairCorr
  0.7BIAIX Brown Advisory InterPairCorr
  0.69BIAZX Brown Advisory MortgagePairCorr
  0.67BIAHX Brown AdvisoryPairCorr
  0.71GAAGX Gmo Alternative AlloPairCorr
  0.7GAAKX Gmo Alternative AlloPairCorr
  0.68GPBFX Gmo E PlusPairCorr
  0.47GPMFX Guidepath Managed FuturesPairCorr

Related Correlations Analysis

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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   
HAIDX
+ 0.96
FZABX
PGFCX
+ 0.94
EVFCX
BICPX
+ 0.89
EVFCX
FZABX
+ 0.81
JDJRX
HAIDX
+ 0.81
JDJRX
BICPX
+ 0.79
PGFCX
  
High negative correlations   
ADX
- 0.39
FZABX
ADX
- 0.35
HAIDX
ADX
- 0.27
JDJRX
ADX
- 0.21
BICPX

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.

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