Barings Global Correlations

BXITX Fund

USD 7.75 0.01 0.13%

The current 90-days correlation between Barings Global Credit and John Hancock High is 0.61 (i.e., Poor diversification). The correlation of Barings 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.

Barings Global Correlation With Market

Good diversification

The correlation between Barings Global Credit and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Barings Global Credit 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 Barings Global Credit. 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 estimate.

Moving together with Barings Mutual Fund

0.97	BXDCX	Barings Active Short	Pair Corr
0.86	BXECX	Barings Emerging Markets	Pair Corr
0.87	BXEAX	Barings Emerging Markets	Pair Corr
0.97	BXDYX	Barings Active Short	Pair Corr
0.96	BXFIX	Barings Global Floating	Pair Corr
0.95	BXFCX	Barings Global Floating	Pair Corr
0.96	BXFAX	Barings Global Floating	Pair Corr
0.88	BXEYX	Barings Emerging Markets	Pair Corr
0.88	BXEIX	Barings Emerging Markets	Pair Corr
0.96	BXFYX	Barings Global Floating	Pair Corr
0.92	BXHCX	Barings High Yield	Pair Corr
0.99	BXICX	Barings Global Credit	Pair Corr
1.0	BXIAX	Barings Global Credit	Pair Corr
0.92	BXHYX	Barings High Yield	Pair Corr
1.0	BXIYX	Barings Global Credit	Pair Corr
0.91	VWEAX	Vanguard High Yield	Pair Corr
0.91	VWEHX	Vanguard High Yield	Pair Corr
0.79	BHYCX	Blackrock Hi Yld	Pair Corr
0.78	BHYIX	Blackrock High Yield	Pair Corr
0.81	BHYSX	Blackrock Hi Yld	Pair Corr
0.82	BHYAX	Blackrock High Yield	Pair Corr
0.91	FAHHX	American Funds American	Pair Corr
0.92	FTAHX	American Funds American	Pair Corr
0.91	AHTFX	American High Income	Pair Corr
0.86	AHTCX	American High Income	Pair Corr
0.75	RWDNX	Redwood Managed Vola	Pair Corr
0.84	AGGNX	Global Gold Fund	Pair Corr
0.94	SHYSX	Guggenheim High Yield	Pair Corr

Moving against Barings Mutual Fund

0.71	SMPSX	Semiconductor Ultrasector	Pair Corr
0.68	SMPIX	Semiconductor Ultrasector	Pair Corr

Related Correlations Analysis

	JHYMX	RYIHX	SGYAX	PBHAX	MWHIX	MFHVX	FYAIX	DIHRX
JHYMX		-0.85	0.61	0.77	0.85	0.57	0.82	0.83	JHYMX
RYIHX	-0.85		-0.24	-0.42	-0.6	-0.21	-0.64	-0.59	RYIHX
SGYAX	0.61	-0.24		0.93	0.89	0.93	0.85	0.81	SGYAX
PBHAX	0.77	-0.42	0.93		0.92	0.92	0.92	0.89	PBHAX
MWHIX	0.85	-0.6	0.89	0.92		0.8	0.91	0.9	MWHIX
MFHVX	0.57	-0.21	0.93	0.92	0.8		0.86	0.79	MFHVX
FYAIX	0.82	-0.64	0.85	0.92	0.91	0.86		0.91	FYAIX
DIHRX	0.83	-0.59	0.81	0.89	0.9	0.79	0.91		DIHRX
	JHYMX	RYIHX	SGYAX	PBHAX	MWHIX	MFHVX	FYAIX	DIHRX

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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

PBHAX	+ 0.93	SGYAX
MFHVX	+ 0.93	SGYAX
MWHIX	+ 0.92	PBHAX
MFHVX	+ 0.92	PBHAX
FYAIX	+ 0.92	PBHAX
FYAIX	+ 0.91	MWHIX

High negative correlations

RYIHX	- 0.85	JHYMX
FYAIX	- 0.64	RYIHX
MWHIX	- 0.6	RYIHX
DIHRX	- 0.59	RYIHX
PBHAX	- 0.42	RYIHX
SGYAX	- 0.24	RYIHX

Risk-Adjusted Indicators

There is a big difference between Barings Mutual Fund performing well and Barings 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 Barings 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
JHYMX	0.25	0.02	0.23	(0.76)	0.29	(0.29)	0.43	(0.56)	2.29
RYIHX	0.24	(0.01)	0.00	(0.21)	0.00	0.00	0.39	(0.53)	2.36
SGYAX	0.15	0.02	0.53	0.53	0.00	(0.28)	0.57	(0.28)	1.28
PBHAX	0.15	0.03	0.44	(0.84)	0.00	(0.32)	0.63	(0.21)	1.06
MWHIX	0.12	0.01	0.52	0.23	0.00	(0.21)	0.54	(0.22)	0.98
MFHVX	0.10	0.01	0.55	0.87	0.00	(0.15)	0.24	(0.24)	0.71
FYAIX	0.21	0.01	0.34	(0.20)	0.25	(0.21)	0.30	(0.33)	1.34
DIHRX	0.53	0.11	0.21	0.20	0.62	(0.59)	1.16	(0.99)	3.68

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