Baron Durable Correlations

BDAIX Fund

USD 31.41 0.08 0.25%

The current 90-days correlation between Baron Durable Advantage and Matson Money Equity is 0.84 (i.e., Very poor 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 gross domestic product.

Moving together with Baron Mutual Fund

0.98	BDFIX	Baron Discovery	Pair Corr
0.97	BEXFX	Baron Emerging Markets	Pair Corr
0.98	BFGIX	Baron Focused Growth	Pair Corr
0.98	BFGFX	Baron Focused Growth	Pair Corr
0.99	BFTIX	Baron Fifth Avenue	Pair Corr
0.99	BGAFX	Baron Global Advantage	Pair Corr
1.0	BIOIX	Baron Opportunity	Pair Corr
0.87	BPTIX	Baron Partners	Pair Corr
1.0	FAFGX	American Funds	Pair Corr
1.0	FFAFX	American Funds	Pair Corr
1.0	GFACX	Growth Fund	Pair Corr
1.0	GFAFX	Growth Fund	Pair Corr
1.0	AGTHX	Growth Fund	Pair Corr
1.0	CGFFX	Growth Fund	Pair Corr
1.0	CGFCX	Growth Fund	Pair Corr
1.0	CGFAX	Growth Fund	Pair Corr
1.0	CGFEX	Growth Fund	Pair Corr
1.0	RGAEX	Growth Fund	Pair Corr
0.73	NHS	Neuberger Berman High	Pair Corr
0.77	BIMIX	Baird Intermediate Bond	Pair Corr
0.99	CSGCX	Calvert Balanced Por	Pair Corr
0.93	STMUX	Invesco Short Term	Pair Corr
0.99	LPREX	Blackrock Lifepath	Pair Corr
0.99	PRSIX	Trowe Price Personal	Pair Corr
1.0	VFINX	Vanguard 500 Index	Pair Corr
0.98	TRROX	T Rowe Price	Pair Corr
0.99	ATECX	Ab Sustainable Global	Pair Corr
0.99	JGMCX	Janus Triton	Pair Corr
0.97	STRBX	Sterling Capital Beh	Pair Corr
0.98	MXEOX	Great West Emerging	Pair Corr
0.98	TEMVX	Tiaa Cref Emerging	Pair Corr
0.99	NWOBX	Nationwide Destination	Pair Corr
0.97	NBPIX	Neuberger Berman Large	Pair Corr
0.75	PGCAX	Investment Grade Porate	Pair Corr
0.71	GRECX	Goldman Sachs Real	Pair Corr
0.66	FBIOX	Biotechnology Portfolio	Pair Corr

Moving against Baron Mutual Fund

0.41

BHCHX

Baron Health Care Potential Growth

Pair Corr

Related Correlations Analysis

	FMVUX	FMFXX	QCMMIX	PBMXX	GMBXX	ELMXX	AEYXX
FMVUX		0.73	0.93	0.73	0.67	0.67	0.0	FMVUX
FMFXX	0.73		0.63	1.0	0.83	0.83	0.0	FMFXX
QCMMIX	0.93	0.63		0.63	0.56	0.56	0.0	QCMMIX
PBMXX	0.73	1.0	0.63		0.83	0.83	0.0	PBMXX
GMBXX	0.67	0.83	0.56	0.83		1.0	0.0	GMBXX
ELMXX	0.67	0.83	0.56	0.83	1.0		0.0	ELMXX
AEYXX	0.0	0.0	0.0	0.0	0.0	0.0		AEYXX
	FMVUX	FMFXX	QCMMIX	PBMXX	GMBXX	ELMXX	AEYXX

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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

PBMXX	+ 1.0	FMFXX
ELMXX	+ 1.0	GMBXX
QCMMIX	+ 0.93	FMVUX
GMBXX	+ 0.83	FMFXX
ELMXX	+ 0.83	FMFXX
GMBXX	+ 0.83	PBMXX

High negative correlations

AEYXX	- 0.0	ELMXX
AEYXX	- 0.0	GMBXX
AEYXX	- 0.0	PBMXX
AEYXX	- 0.0	QCMMIX
AEYXX	- 0.0	FMFXX
AEYXX	- 0.0	FMVUX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FMVUX	0.77	0.08	0.08	0.21	0.70	(0.89)	1.98	(1.37)	5.60
FMFXX	0.03	0.00	0.00	1.43	0.00	0.00	0.00	0.00	1.01
QCMMIX	0.02	0.01	0.00	(4.32)	0.00	0.00	0.03	0.00	0.07
PBMXX	0.03	0.00	0.00	1.43	0.00	0.00	0.00	0.00	1.01
GMBXX	0.03	0.01	0.00	(3.32)	0.00	0.00	0.00	0.00	1.01
ELMXX	0.03	0.01	0.00	(3.32)	0.00	0.00	0.00	0.00	1.01
AEYXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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