Brown Advisory Correlations

Mutual Funds . USA . 
Fund . Brown Advisory Tax Exempt
BTEIX Fund  USD 9.11  0.01  0.11%   
The current 90-days correlation between Brown Advisory Tax and Brown Advisory Mid Cap is 0.24 (i.e., Modest diversification). The correlation of Brown Advisory 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.

Brown Advisory Correlation With Market

Modest diversification

The correlation between Brown Advisory Tax Exempt and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Brown Advisory Tax Exempt 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 Brown Advisory Tax Exempt. 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 Brown Mutual Fund

  0.93BAFMX Brown Advisory MidPairCorr
  0.9BAFLX Brown Advisory GlobalPairCorr
  0.91BAFGX Brown Advisory GrowthPairCorr
  0.89BAFHX Brown AdvisoryPairCorr
  0.92BAFFX Brown Advisory FlexiblePairCorr
  0.92BAFAX Brown Advisory FlexiblePairCorr
  0.91BAGAX Brown Advisory GrowthPairCorr
  0.92BAFYX Brown Advisory FundsPairCorr
  0.7BAFZX Brown Advisory MortgagePairCorr
  0.91BAFWX Brown Advisory SustaPairCorr
  0.92BAFSX Brown Advisory SmallPairCorr
  0.9BAFQX Brown AdvisoryPairCorr
  0.89BAHAX Brown AdvisoryPairCorr
  0.76BAISX Brown Advisory SustaPairCorr
  0.78BAIAX Brown Advisory InterPairCorr
  0.91BAQAX Brown AdvisoryPairCorr
  0.77BASBX Brown Advisory SustaPairCorr
  0.92BASAX Brown Advisory SmallPairCorr
  0.88BAUAX Brown Advisory SmallPairCorr
  0.88BAUUX Brown Advisory SmallPairCorr
  0.91BAWAX Brown Advisory SustaPairCorr
  0.9BVALX Brown AdvisoryPairCorr
  0.89BIALX Brown Advisory GlobalPairCorr
  0.79BIAIX Brown Advisory InterPairCorr
  0.91BIAGX Brown Advisory GrowthPairCorr
  0.89BIAHX Brown AdvisoryPairCorr
  1.0BIAEX Brown Advisory TaxPairCorr
  0.92BIAFX Brown Advisory FlexiblePairCorr
  0.71BIAZX Brown Advisory MortgagePairCorr
  0.92BIAYX Brown Advisory FundsPairCorr
  0.9BIAVX Brown AdvisoryPairCorr
  0.91BIAWX Brown Advisory SustaPairCorr
  0.88BIAUX Brown Advisory SmallPairCorr
  0.9BIAQX Brown AdvisoryPairCorr
  0.92BIASX Brown Advisory SmallPairCorr
  0.95BIAMX Brown Advisory MarylandPairCorr
  0.96BITEX Brown Advisory TaxPairCorr
  0.93BMIDX Brown Advisory MidPairCorr
  0.99VWITX Vanguard Intermediate-terPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Brown Mutual Fund performing well and Brown Advisory 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 Brown Advisory'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
BAFMX  0.77  0.15  0.14  0.28  0.66 
(0.88)
 2.40 
(1.25)
 5.87 
BAFLX  0.53  0.10  0.08  0.29  0.36 
(0.61)
 1.32 
(0.99)
 4.24 
BAFJX  0.64  0.11 (0.03)(2.37) 0.75 
(0.68)
 1.50 
(1.29)
 3.83 
BAFGX  0.77  0.13  0.14  0.26  0.56 
(0.91)
 1.95 
(1.60)
 5.16 
BAFHX  0.50  0.20  0.13  0.74  0.31 
(0.58)
 1.22 
(0.99)
 3.76 
BAFFX  0.70  0.05  0.05  0.18  0.63 
(0.77)
 1.94 
(1.74)
 5.26 
BAFAX  0.70  0.05  0.05  0.18  0.63 
(0.77)
 1.96 
(1.73)
 5.28 
BAGAX  0.77  0.13  0.14  0.26  0.56 
(0.91)
 2.01 
(1.56)
 5.18 
BAFYX  0.86  0.09  0.08  0.22  0.87 
(1.01)
 2.10 
(1.77)
 6.48 
BAFZX  0.27  0.00 (0.33) 0.18  0.28 
(0.30)
 0.45 
(0.56)
 1.36 

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