Baron Discovery Correlations

Mutual Funds . USA . 
Fund . Baron Discovery Fund
BDFFX Fund  USD 34.00  0.23  0.67%   
The current 90-days correlation between Baron Discovery and Baron Global Advantage is 0.13 (i.e., Average diversification). The correlation of Baron Discovery 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 Discovery Correlation With Market

Good diversification

The correlation between Baron Discovery Fund and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baron Discovery Fund 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 Discovery Fund. 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

  0.69BREIX Baron Real EstatePairCorr
  0.91BREFX Baron Real EstatePairCorr
  0.83BSCFX Baron Small CapPairCorr
  0.71BARAX Baron Asset FundPairCorr
  0.99BSFIX Baron Small CapPairCorr
  0.71BARIX Baron Asset FundPairCorr
  0.81BTEEX Baron Select FundsPairCorr
  0.78BTECX Baron Select FundsPairCorr
  0.78BTEUX Baron Select FundsPairCorr
  0.8BDAIX Baron Durable AdvantagePairCorr
  0.8BDAFX Baron Durable AdvantagePairCorr
  0.84BDFIX Baron DiscoveryPairCorr
  0.75BWBIX Baron WealthbuilderPairCorr
  0.75BWBFX Baron WealthbuilderPairCorr
  0.96BEXIX Baron Emerging MarketsPairCorr
  0.96BEXFX Baron Emerging MarketsPairCorr
  0.98BFGIX Baron Focused GrowthPairCorr
  0.98BFGFX Baron Focused GrowthPairCorr
  0.74BFINX Baron FintechPairCorr
  0.74BFIIX Baron FintechPairCorr
  0.98BFTHX Baron Fifth AvenuePairCorr
  0.98BFTIX Baron Fifth AvenuePairCorr
  0.98BGAIX Baron Global AdvantagePairCorr
  0.8BGAFX Baron Global AdvantagePairCorr
  0.76BGRIX Baron GrowthPairCorr
  0.76BGRFX Baron GrowthPairCorr
  0.83BIGFX Baron InternationalPairCorr
  0.97BINIX Baron InternationalPairCorr
  0.98BIOPX Baron OpportunityPairCorr
  0.81BIOIX Baron OpportunityPairCorr
  0.85BPTRX Baron PartnersPairCorr
  0.68BPTIX Baron PartnersPairCorr
  0.81VSGAX Vanguard Small CapPairCorr

Moving against Baron Mutual Fund

  0.31BHCFX 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 Discovery 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 Discovery'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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