Baron Discovery Correlations

Mutual Funds . USA . 
Fund . Baron Discovery Fund
BDFIX Fund  USD 34.80  0.03  0.09%   
The current 90-days correlation between Baron Discovery and Baron Partners Fund is 0.58 (i.e., Very weak diversification). The correlation of Baron Discovery 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 Discovery Correlation With Market

Very poor diversification

The correlation between Baron Discovery Fund and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baron Discovery Fund 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 Discovery Fund. 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

  0.81BREIX Baron Real EstatePairCorr
  0.81BREFX Baron Real EstatePairCorr
  0.85BRIIX Baron Real EstatePairCorr
  0.94BSCFX Baron Small CapPairCorr
  0.92BARAX Baron Asset FundPairCorr
  0.94BSFIX Baron Small CapPairCorr
  0.92BARIX Baron Asset FundPairCorr
  0.96BTEEX Baron Select FundsPairCorr
  0.96BTECX Baron Select FundsPairCorr
  0.96BTEUX Baron Select FundsPairCorr
  0.87BDAIX Baron Durable AdvantagePairCorr
  1.0BDFFX Baron DiscoveryPairCorr
  0.97BWBIX Baron WealthbuilderPairCorr
  0.97BWBFX Baron WealthbuilderPairCorr
  0.96BFGIX Baron Focused GrowthPairCorr
  0.96BFGFX Baron Focused GrowthPairCorr
  0.96BFINX Baron FintechPairCorr
  0.96BFIIX Baron FintechPairCorr
  0.94BFTHX Baron Fifth AvenuePairCorr
  0.94BFTIX Baron Fifth AvenuePairCorr
  0.95BGAIX Baron Global AdvantagePairCorr
  0.92BGAFX Baron Global AdvantagePairCorr
  0.74BGRIX Baron GrowthPairCorr
  0.73BGRFX Baron GrowthPairCorr
  0.95BIOPX Baron OpportunityPairCorr
  0.95BIOIX Baron OpportunityPairCorr
  0.88BPTRX Baron PartnersPairCorr
  0.88BPTIX Baron PartnersPairCorr
  1.0VSGAX Vanguard Small CapPairCorr
  1.0VSGIX Vanguard Small CapPairCorr

Moving against Baron Mutual Fund

  0.51BHCHX Baron Health CarePairCorr
  0.51BHCFX Baron Health CarePairCorr
  0.33VGTSX Vanguard Total InterPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Baron Mutual Fund performing well and Baron Discovery 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 Discovery'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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