Baron Durable Correlations

Mutual Funds . USA . 
Fund . Baron Durable Advantage
BDAIX Fund  USD 28.51  0.03  0.11%   
The current 90-days correlation between Baron Durable Advantage and Oppenheimer Gold Special is 0.45 (i.e., Very weak 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

Poor diversification

The correlation between Baron Durable Advantage and DJI is 0.76 (i.e., Poor 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 gross domestic product.

Moving together with Baron Mutual Fund

  0.92BREIX Baron Real EstatePairCorr
  0.92BREFX Baron Real EstatePairCorr
  0.86BRIIX Baron Real EstatePairCorr
  0.95BSCFX Baron Small CapPairCorr
  0.95BARAX Baron Asset FundPairCorr
  0.95BSFIX Baron Small CapPairCorr
  0.91BARIX Baron Asset FundPairCorr
  0.93BTEEX Baron Select FundsPairCorr
  0.93BTECX Baron Select FundsPairCorr
  0.93BTEUX Baron Select FundsPairCorr
  0.89BDFIX Baron DiscoveryPairCorr
  0.89BDFFX Baron DiscoveryPairCorr
  0.89BWBIX Baron WealthbuilderPairCorr
  0.89BWBFX Baron WealthbuilderPairCorr
  0.86BFGIX Baron Focused GrowthPairCorr
  0.86BFGFX Baron Focused GrowthPairCorr
  0.87BFINX Baron FintechPairCorr
  0.87BFTHX Baron Fifth AvenuePairCorr
  0.87BFTIX Baron Fifth AvenuePairCorr
  0.88BGAIX Baron Global AdvantagePairCorr
  0.83BGAFX Baron Global AdvantagePairCorr
  0.85BGRIX Baron GrowthPairCorr
  0.85BGRFX Baron GrowthPairCorr
  0.95BIOPX Baron OpportunityPairCorr
  0.9BIOIX Baron OpportunityPairCorr
  0.65BPTRX Baron PartnersPairCorr
  0.69BPTIX Baron PartnersPairCorr
  0.92FAFGX American FundsPairCorr
  0.92FFAFX American FundsPairCorr
  0.92GFACX Growth FundPairCorr
  0.97GFAFX Growth FundPairCorr

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   
FRGOX
+ 0.99
OGMCX
INIVX
+ 0.99
EKWDX
INIVX
+ 0.99
FRGOX
GLDAX
+ 0.99
SGDLX
INIVX
+ 0.98
OGMCX
FRGOX
+ 0.98
EKWDX
  
High negative correlations   
GLDAX
- 0.06
GLECX
FRGOX
- 0.0
GLECX

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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