Baron Durable Correlations

Mutual Funds . USA . 
Fund . Baron Durable Advantage
BDAFX Fund  USD 28.07  0.03  0.11%   
The current 90-days correlation between Baron Durable Advantage and Baron Discovery Fund is 0.01 (i.e., Significant 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

Good diversification

The correlation between Baron Durable Advantage and DJI is -0.01 (i.e., Good 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 census.

Moving together with Baron Mutual Fund

  0.89BREIX Baron Real EstatePairCorr
  0.88BREFX Baron Real EstatePairCorr
  0.88BRIIX Baron Real EstatePairCorr
  0.9BSCFX Baron Small CapPairCorr
  0.89BARAX Baron Asset FundPairCorr
  0.91BSFIX Baron Small CapPairCorr
  0.95BARIX Baron Asset FundPairCorr
  0.91BTEEX Baron Select FundsPairCorr
  0.91BTECX Baron Select FundsPairCorr
  0.91BTEUX Baron Select FundsPairCorr
  0.94BDAIX Baron Durable AdvantagePairCorr
  0.86BDFIX Baron DiscoveryPairCorr
  0.86BDFFX Baron DiscoveryPairCorr
  0.94BWBIX Baron WealthbuilderPairCorr
  0.94BWBFX Baron WealthbuilderPairCorr
  0.84BFGIX Baron Focused GrowthPairCorr
  0.84BFGFX Baron Focused GrowthPairCorr
  0.91BFINX Baron FintechPairCorr
  0.92BFTHX Baron Fifth AvenuePairCorr
  0.92BFTIX Baron Fifth AvenuePairCorr
  0.86BGAIX Baron Global AdvantagePairCorr
  0.89BGAFX Baron Global AdvantagePairCorr
  0.79BGRIX Baron GrowthPairCorr
  0.79BGRFX Baron GrowthPairCorr
  0.91BIOPX Baron OpportunityPairCorr
  0.95BIOIX Baron OpportunityPairCorr
  0.7BPTRX Baron PartnersPairCorr
  0.67BPTIX Baron PartnersPairCorr
  0.98FAFGX American FundsPairCorr
  0.98FFAFX American FundsPairCorr
  0.98GFACX Growth FundPairCorr
  0.94GFAFX Growth FundPairCorr

Moving against Baron Mutual Fund

  0.34BHCHX Baron Health CarePairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
BWBFX
+ 0.95
BFTHX
BFTHX
+ 0.94
BDFFX
BWBFX
+ 0.92
BDFFX
BIGFX
+ 0.53
BHCFX
  
High negative correlations   
BHCFX
- 0.6
BFTHX
BWBFX
- 0.48
BHCFX
BHCFX
- 0.48
BDFFX
BIGFX
- 0.22
BFTHX
BIGFX
- 0.21
BDFFX
BIGFX
- 0.09
BWBFX

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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