Baron Health Correlations

BHCUX Fund

USD 17.39 0.15 0.86%

The current 90-days correlation between Baron Health Care and Baron Real Estate is 0.67 (i.e., Poor diversification). The correlation of Baron Health 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 Health Correlation With Market

Poor diversification

The correlation between Baron Health Care and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baron Health Care 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 Health Care. 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

0.74	VGHAX	Vanguard Health Care	Pair Corr
0.74	VGHCX	Vanguard Health Care	Pair Corr
0.73	PRHSX	T Rowe Price	Pair Corr
0.72	THISX	T Rowe Price	Pair Corr
0.82	VHCIX	Vanguard Health Care	Pair Corr
0.74	SHISX	Blackrock Health Sciences	Pair Corr
0.71	SHSCX	Blackrock Health Sciences	Pair Corr
0.73	SHSAX	Blackrock Health Sciences	Pair Corr
0.74	SHSSX	Blackrock Health Sciences	Pair Corr
0.8	FSPHX	Health Care Portfolio	Pair Corr

Moving against Baron Mutual Fund

0.48	BFGUX	Baron Focused Growth	Pair Corr
0.45	BFTUX	Baron Fifth Avenue	Pair Corr
0.44	BWBTX	Baron Wealthbuilder	Pair Corr
0.44	BIOUX	Baron Opportunity	Pair Corr
0.42	BFIUX	Baron Fintech	Pair Corr
0.41	BDAUX	Baron Durable Advantage	Pair Corr
0.41	BDFUX	Baron Discovery	Pair Corr
0.4	BARUX	Baron Asset Fund	Pair Corr
0.4	BEXUX	Baron Emerging Markets	Pair Corr
0.39	BGRUX	Baron Growth	Pair Corr
0.33	BRIUX	Baron Real Estate	Pair Corr
0.32	BSCUX	Baron Small Cap	Pair Corr
0.42	RCEAX	Riversource Series Trust Steady Growth	Pair Corr
0.39	CGFEX	Growth Fund	Pair Corr
0.38	FXAIX	Fidelity 500 Index	Pair Corr
0.38	VEXRX	Vanguard Explorer	Pair Corr
0.34	JEQSX	Johnson Equity Income	Pair Corr
0.34	CGRCX	Oppenheimer Value	Pair Corr

Related Correlations Analysis

	BREUX	BRIUX	BRIFX	BSCUX	BARUX	BDAUX	BDFUX	BWBTX	BEXUX	BFGUX
BREUX		0.93	0.5	0.59	0.87	0.93	0.93	0.92	0.91	0.91	BREUX
BRIUX	0.93		0.45	0.5	0.91	0.89	0.91	0.92	0.88	0.91	BRIUX
BRIFX	0.5	0.45		0.87	0.41	0.53	0.47	0.47	0.42	0.47	BRIFX
BSCUX	0.59	0.5	0.87		0.57	0.71	0.65	0.64	0.61	0.64	BSCUX
BARUX	0.87	0.91	0.41	0.57		0.92	0.96	0.97	0.91	0.96	BARUX
BDAUX	0.93	0.89	0.53	0.71	0.92		0.98	0.98	0.97	0.98	BDAUX
BDFUX	0.93	0.91	0.47	0.65	0.96	0.98		0.99	0.97	0.99	BDFUX
BWBTX	0.92	0.92	0.47	0.64	0.97	0.98	0.99		0.95	1.0	BWBTX
BEXUX	0.91	0.88	0.42	0.61	0.91	0.97	0.97	0.95		0.95	BEXUX
BFGUX	0.91	0.91	0.47	0.64	0.96	0.98	0.99	1.0	0.95		BFGUX
	BREUX	BRIUX	BRIFX	BSCUX	BARUX	BDAUX	BDFUX	BWBTX	BEXUX	BFGUX

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Risk-Adjusted Indicators

There is a big difference between Baron Mutual Fund performing well and Baron Health 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 Health'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
BREUX	0.85	0.07	0.06	0.20	0.96	(0.90)	1.92	(1.87)	5.83
BRIUX	0.61	0.04	(0.01)	0.19	0.70	(0.70)	1.49	(1.15)	4.53
BRIFX	0.56	0.11	(0.04)	(0.70)	0.66	(0.62)	1.18	(1.04)	4.19
BSCUX	0.80	0.28	0.15	(17.52)	0.55	(0.95)	2.36	(1.22)	6.03
BARUX	0.65	0.03	0.01	0.16	0.69	(0.75)	1.78	(1.23)	5.14
BDAUX	0.81	0.15	0.15	0.27	0.65	(1.08)	2.38	(1.84)	6.21
BDFUX	0.84	0.10	0.10	0.23	0.75	(0.95)	2.35	(1.51)	6.20
BWBTX	0.70	0.09	0.08	0.23	0.69	(0.76)	2.15	(1.27)	5.11
BEXUX	0.58	0.20	0.16	0.57	0.18	(0.69)	1.79	(0.98)	4.45
BFGUX	0.76	0.15	0.14	0.30	0.68	(0.90)	2.22	(1.24)	4.76

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