Baron Durable Correlations

Mutual Funds . USA . 
Fund . Baron Durable Advantage
BDAFX Fund  USD 30.94  0.08  0.26%   
The current 90-days correlation between Baron Durable Advantage and Nasdaq 100 Fund Investor is 0.07 (i.e., Significant diversification). The correlation of Baron Durable 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 Durable Correlation With Market

Very poor diversification

The correlation between Baron Durable Advantage and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baron Durable Advantage 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 Durable Advantage. 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 census.

Moving together with Baron Mutual Fund

  0.99BDAIX Baron Durable AdvantagePairCorr
  0.97BDFIX Baron DiscoveryPairCorr
  0.97BEXFX Baron Emerging MarketsPairCorr
  0.98BFGIX Baron Focused GrowthPairCorr
  0.98BFGFX Baron Focused GrowthPairCorr
  0.98BFTIX Baron Fifth AvenuePairCorr
  0.99BGAFX Baron Global AdvantagePairCorr
  1.0BIOIX Baron OpportunityPairCorr
  0.87BPTIX Baron PartnersPairCorr
  1.0FAFGX American FundsPairCorr
  1.0FFAFX American FundsPairCorr
  1.0GFACX Growth FundPairCorr
  0.99GFAFX Growth FundPairCorr
  0.99AGTHX Growth FundPairCorr
  1.0CGFFX Growth FundPairCorr
  0.99CGFCX Growth FundPairCorr
  0.99CGFAX Growth FundPairCorr
  0.99CGFEX Growth FundPairCorr
  1.0RGAEX Growth FundPairCorr
  0.73NHS Neuberger Berman HighPairCorr
  0.77BIMIX Baird Intermediate BondPairCorr
  0.99CSGCX Calvert Balanced PorPairCorr
  0.93STMUX Invesco Short TermPairCorr
  0.99LPREX Blackrock LifepathPairCorr
  0.98PRSIX Trowe Price PersonalPairCorr
  1.0VFINX Vanguard 500 IndexPairCorr
  0.98TRROX T Rowe PricePairCorr
  0.99ATECX Ab Sustainable GlobalPairCorr
  0.99JGMCX Janus TritonPairCorr
  0.96STRBX Sterling Capital BehPairCorr
  0.98MXEOX Great West EmergingPairCorr
  0.98TEMVX Tiaa Cref EmergingPairCorr
  0.99NWOBX Nationwide DestinationPairCorr
  0.97NBPIX Neuberger Berman LargePairCorr
  0.75PGCAX Investment Grade PoratePairCorr
  0.72GRECX Goldman Sachs RealPairCorr
  0.66FBIOX Biotechnology PortfolioPairCorr

Moving against Baron Mutual Fund

  0.44BHCHX Baron Health Care Potential GrowthPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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