Baron India Correlations

BINUX Fund

8.86 0.09 1.01%

The current 90-days correlation between Baron India R6 and Baron Discovery Fund is 0.12 (i.e., Average diversification). The correlation of Baron India 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 India Correlation With Market

Excellent diversification

The correlation between Baron India R6 and DJI is -0.62 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baron India R6 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 India R6. 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 manufacturing.

Moving together with Baron Mutual Fund

1.0	BINDX	Baron India Institutional	Pair Corr
1.0	BINRX	Baron India Retail	Pair Corr

Moving against Baron Mutual Fund

0.61	BREIX	Baron Real Estate	Pair Corr
0.61	BREFX	Baron Real Estate	Pair Corr
0.61	BSCFX	Baron Small Cap	Pair Corr
0.61	BSFIX	Baron Small Cap	Pair Corr
0.59	BEXIX	Baron Emerging Markets	Pair Corr
0.59	BEXFX	Baron Emerging Markets	Pair Corr
0.57	BWBIX	Baron Wealthbuilder	Pair Corr
0.57	BWBFX	Baron Wealthbuilder	Pair Corr
0.53	BARIX	Baron Asset Fund	Pair Corr
0.51	BGRFX	Baron Growth	Pair Corr
0.5	BGAIX	Baron Global Advantage	Pair Corr
0.5	BGRIX	Baron Growth	Pair Corr
0.49	BGAFX	Baron Global Advantage	Pair Corr
0.36	BFGIX	Baron Focused Growth	Pair Corr
0.36	BFGFX	Baron Focused Growth	Pair Corr
0.31	BDAIX	Baron Durable Advantage	Pair Corr
0.61	BIGFX	Baron International	Pair Corr
0.61	BINIX	Baron International	Pair Corr
0.5	PDI	Pimco Dynamic Income	Pair Corr
0.46	BPTRX	Baron Partners	Pair Corr
0.46	BPTIX	Baron Partners	Pair Corr
0.38	WAINX	Wasatch Emerging India Potential Growth	Pair Corr
0.38	WIINX	Wasatch Emerging India	Pair Corr
0.34	ECGIX	Eaton Vance Greater	Pair Corr

Related Correlations Analysis

	BREIX	BREFX	BRIIX	BSCFX	BARAX	BSFIX	BARIX	BDAIX	BDAFX	BDFIX
BREIX		1.0	0.53	0.81	0.19	0.81	0.69	0.29	0.27	0.14	BREIX
BREFX	1.0		0.53	0.82	0.2	0.82	0.7	0.29	0.28	0.15	BREFX
BRIIX	0.53	0.53		0.15	-0.38	0.14	0.13	-0.52	-0.52	-0.56	BRIIX
BSCFX	0.81	0.82	0.15		0.44	1.0	0.95	0.44	0.43	0.32	BSCFX
BARAX	0.19	0.2	-0.38	0.44		0.46	0.58	0.59	0.59	0.78	BARAX
BSFIX	0.81	0.82	0.14	1.0	0.46		0.94	0.46	0.45	0.35	BSFIX
BARIX	0.69	0.7	0.13	0.95	0.58	0.94		0.35	0.33	0.28	BARIX
BDAIX	0.29	0.29	-0.52	0.44	0.59	0.46	0.35		1.0	0.78	BDAIX
BDAFX	0.27	0.28	-0.52	0.43	0.59	0.45	0.33	1.0		0.79	BDAFX
BDFIX	0.14	0.15	-0.56	0.32	0.78	0.35	0.28	0.78	0.79		BDFIX
	BREIX	BREFX	BRIIX	BSCFX	BARAX	BSFIX	BARIX	BDAIX	BDAFX	BDFIX

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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

BREFX	+ 1.0	BREIX
BSFIX	+ 1.0	BSCFX
BDAFX	+ 1.0	BDAIX
BARIX	+ 0.95	BSCFX
BARIX	+ 0.94	BSFIX
BSCFX	+ 0.82	BREFX

High negative correlations

BDFIX	- 0.56	BRIIX
BDAFX	- 0.52	BRIIX
BDAIX	- 0.52	BRIIX
BARAX	- 0.38	BRIIX

Risk-Adjusted Indicators

There is a big difference between Baron Mutual Fund performing well and Baron India 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 India'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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
BREIX	0.74	0.00	0.00	0.08	0.92	(0.73)	1.59	(1.59)	5.20
BREFX	0.74	0.00	0.00	0.08	0.90	(0.75)	1.56	(1.59)	5.19
BRIIX	0.51	0.06	0.03	0.20	0.51	(0.61)	1.10	(1.03)	3.15
BSCFX	1.03	0.12	0.10	0.20	0.89	(1.21)	2.26	(1.93)	12.61
BARAX	0.68	0.01	(0.02)	0.09	0.68	(0.80)	1.37	(1.17)	8.61
BSFIX	1.01	0.10	0.09	0.18	0.90	(1.18)	2.25	(1.93)	11.51
BARIX	0.89	0.20	0.21	0.46	0.46	(1.13)	1.62	(1.17)	13.40
BDAIX	0.78	(0.07)	(0.06)	0.00	1.25	(0.66)	1.26	(1.74)	4.78
BDAFX	0.78	(0.07)	(0.06)	0.00	1.22	(0.67)	1.25	(1.74)	4.80
BDFIX	0.88	(0.07)	(0.06)	0.01	1.04	(0.96)	1.83	(1.89)	5.47

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