Brown Advisory Correlations

Mutual Funds . USA . 
Fund . Brown Advisory Flexible
BAFFX Fund  USD 44.60  0.18  0.41%   
The current 90-days correlation between Brown Advisory Flexible and Legg Mason Partners is -0.3 (i.e., Very good 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

Almost no diversification

The correlation between Brown Advisory Flexible and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Brown Advisory Flexible 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 Flexible. 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 Brown Mutual Fund

  0.96BAFMX Brown Advisory MidPairCorr
  0.8BAFLX Brown Advisory GlobalPairCorr
  0.98BAFGX Brown Advisory GrowthPairCorr
  1.0BAFAX Brown Advisory FlexiblePairCorr
  0.98BAGAX Brown Advisory GrowthPairCorr
  0.89BAFYX Brown Advisory FundsPairCorr
  0.97BAFWX Brown Advisory SustaPairCorr
  0.9BAFSX Brown Advisory SmallPairCorr
  0.9BASAX Brown Advisory SmallPairCorr
  0.9BAUAX Brown Advisory SmallPairCorr
  0.9BAUUX Brown Advisory SmallPairCorr
  0.97BAWAX Brown Advisory SustaPairCorr
  0.7BVALX Brown AdvisoryPairCorr
  0.79BIALX Brown Advisory GlobalPairCorr
  0.98BIAGX Brown Advisory GrowthPairCorr
  1.0BIAFX Brown Advisory FlexiblePairCorr
  0.89BIAYX Brown Advisory FundsPairCorr
  0.69BIAVX Brown AdvisoryPairCorr
  0.97BIAWX Brown Advisory SustaPairCorr
  0.9BIAUX Brown Advisory SmallPairCorr
  0.9BIASX Brown Advisory SmallPairCorr
  0.99BMIDX Brown Advisory MidPairCorr
  0.94FAFGX American FundsPairCorr

Moving against Brown Mutual Fund

  0.73BAISX Brown Advisory SustaPairCorr
  0.73BASBX Brown Advisory SustaPairCorr
  0.72BAFZX Brown Advisory MortgagePairCorr
  0.72BAIAX Brown Advisory InterPairCorr
  0.71BIAIX Brown Advisory InterPairCorr
  0.64BAHAX Brown AdvisoryPairCorr
  0.64BIAHX Brown AdvisoryPairCorr
  0.63BAFHX Brown AdvisoryPairCorr
  0.72BIAZX Brown Advisory MortgagePairCorr

Related Correlations Analysis

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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.

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