Baron Durable Correlations

Mutual Funds . USA . 
Fund . Baron Durable Advantage
BDAUX Fund  USD 31.41  0.08  0.25%   
The current 90-days correlation between Baron Durable Advantage and Baron Partners Fund is 0.64 (i.e., 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 employment.

Moving together with Baron Mutual Fund

  0.93BREUX Baron Real EstatePairCorr
  0.89BRIUX Baron Real EstatePairCorr
  0.88BRIFX Baron Real EstatePairCorr
  0.99BSCUX Baron Small CapPairCorr
  0.92BARUX Baron Asset FundPairCorr
  0.98BDFUX Baron DiscoveryPairCorr
  0.98BWBTX Baron WealthbuilderPairCorr
  0.97BEXUX Baron Emerging MarketsPairCorr
  0.98BFGUX Baron Focused GrowthPairCorr
  0.94BFIUX Baron FintechPairCorr
  0.99BFTUX Baron Fifth AvenuePairCorr
  0.99BGLUX Baron Global AdvantagePairCorr
  0.91BGRUX Baron GrowthPairCorr
  0.97BIGUX Baron Intl GrowthPairCorr
  1.0BIOUX Baron OpportunityPairCorr
  0.87BPTUX Baron PartnersPairCorr
  1.0FAFGX American FundsPairCorr
  1.0FFAFX American FundsPairCorr
  1.0GFACX Growth FundPairCorr
  1.0GFAFX Growth FundPairCorr
  1.0AGTHX Growth FundPairCorr
  1.0CGFFX Growth FundPairCorr
  1.0CGFCX Growth FundPairCorr
  1.0CGFAX Growth FundPairCorr
  1.0CGFEX Growth FundPairCorr
  1.0RGAEX Growth FundPairCorr
  0.91FSMMX Fs Multi StrategyPairCorr
  0.95BTMPX Ishares Msci EafePairCorr
  0.95BTMKX Blackrock InternationalPairCorr
  0.94MDIIX Blackrock Intern IndexPairCorr
  0.69SPMPX Invesco Steelpath MlpPairCorr
  0.7MLPNX Oppenheimer Steelpath MlpPairCorr
  0.68MLPMX Oppenheimer Steelpath MlpPairCorr
  0.68SPMJX Invesco Steelpath MlpPairCorr
  1.0MFLDX Marketfield Fund MarPairCorr
  0.94HRLTX Hartford GlobalPairCorr
  0.98GHVIX Gmo High YieldPairCorr
  0.990P0000V6X4 Vanguard Target RetirePairCorr

Moving against Baron Mutual Fund

  0.41BHCUX 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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