Baron Small Correlations

BSCUX Fund

USD 40.10 0.04 0.1%

The current 90-days correlation between Baron Small Cap and Goldman Sachs Real is 0.24 (i.e., Modest diversification). The correlation of Baron Small 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 Small Correlation With Market

Very poor diversification

The correlation between Baron Small Cap and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baron Small Cap 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 Small Cap. 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 employment.

Moving together with Baron Mutual Fund

0.91	BREUX	Baron Real Estate	Pair Corr
0.88	BRIUX	Baron Real Estate	Pair Corr
0.88	BRIFX	Baron Real Estate	Pair Corr
0.97	BARUX	Baron Asset Fund	Pair Corr
0.93	BDAUX	Baron Durable Advantage	Pair Corr
0.95	BDFUX	Baron Discovery	Pair Corr
0.97	BWBTX	Baron Wealthbuilder	Pair Corr
0.92	BFGUX	Baron Focused Growth	Pair Corr
0.93	BFIUX	Baron Fintech	Pair Corr
0.92	BFTUX	Baron Fifth Avenue	Pair Corr
0.93	BGLUX	Baron Global Advantage	Pair Corr
0.91	BGRUX	Baron Growth	Pair Corr
0.93	BIOUX	Baron Opportunity	Pair Corr
0.8	BPTUX	Baron Partners	Pair Corr
0.96	VSGAX	Vanguard Small Cap	Pair Corr
0.96	VSGIX	Vanguard Small Cap	Pair Corr
0.96	VISGX	Vanguard Small Cap	Pair Corr
0.97	VEXPX	Vanguard Explorer	Pair Corr
0.97	VEXRX	Vanguard Explorer	Pair Corr
0.96	JGMIX	Janus Triton	Pair Corr
0.96	JGMRX	Janus Triton	Pair Corr
0.96	JGMAX	Janus Triton	Pair Corr
0.96	JGMCX	Janus Triton	Pair Corr
0.96	JGMNX	Janus Triton	Pair Corr
0.88	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.88	LSHEX	Kinetics Spin Off	Pair Corr
0.88	LSHCX	Horizon Spin Off	Pair Corr
0.87	WWNPX	Kinetics Paradigm	Pair Corr
0.87	KNPCX	Kinetics Paradigm	Pair Corr
0.84	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.84	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.88	LSHAX	Horizon Spin Off Steady Growth	Pair Corr
0.84	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.87	KNPYX	Kinetics Paradigm	Pair Corr
0.98	TAAIX	Thrivent Aggressive	Pair Corr
0.89	AMECX	Income Fund	Pair Corr

Moving against Baron Mutual Fund

0.35

BHCUX

Baron Health Care

Pair Corr

Related Correlations Analysis

	GMJPX	PNDIX	PRKAX	CNREX	GURPX	RRRRX	NREEX
GMJPX		0.07	0.59	0.61	0.97	0.95	0.88	GMJPX
PNDIX	0.07		0.15	0.19	0.16	-0.06	-0.16	PNDIX
PRKAX	0.59	0.15		0.9	0.7	0.73	0.8	PRKAX
CNREX	0.61	0.19	0.9		0.73	0.68	0.73	CNREX
GURPX	0.97	0.16	0.7	0.73		0.94	0.89	GURPX
RRRRX	0.95	-0.06	0.73	0.68	0.94		0.98	RRRRX
NREEX	0.88	-0.16	0.8	0.73	0.89	0.98		NREEX
	GMJPX	PNDIX	PRKAX	CNREX	GURPX	RRRRX	NREEX

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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

NREEX	+ 0.98	RRRRX
GURPX	+ 0.97	GMJPX
RRRRX	+ 0.95	GMJPX
RRRRX	+ 0.94	GURPX
CNREX	+ 0.9	PRKAX
NREEX	+ 0.89	GURPX

High negative correlations

NREEX	- 0.16	PNDIX
RRRRX	- 0.06	PNDIX

Risk-Adjusted Indicators

There is a big difference between Baron Mutual Fund performing well and Baron Small 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 Small'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
GMJPX	0.70	0.05	(0.05)	0.33	0.75	(0.80)	1.45	(1.36)	3.84
PNDIX	0.04	0.01	0.00	2.76	0.00	0.00	0.10	0.00	0.10
PRKAX	0.53	0.03	(0.09)	0.29	0.55	(0.65)	1.00	(1.24)	2.80
CNREX	0.62	0.03	(0.06)	0.19	0.78	(0.64)	1.22	(1.53)	3.86
GURPX	0.60	0.04	(0.07)	0.33	0.63	(0.69)	1.24	(1.10)	3.21
RRRRX	0.71	0.06	(0.06)	1.41	0.81	(0.74)	1.35	(1.37)	3.82
NREEX	0.71	0.05	(0.06)	1.29	0.85	(0.72)	1.29	(1.48)	3.90

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