Baron Small Correlations

BSFIX Fund

USD 29.90 0.14 0.47%

The current 90-days correlation between Baron Small Cap and Hennessy Focus Fund is 0.17 (i.e., Average 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

Poor diversification

The correlation between Baron Small Cap and DJI is 0.68 (i.e., 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 gross domestic product.

Moving together with Baron Mutual Fund

0.81	BREIX	Baron Real Estate	Pair Corr
0.82	BREFX	Baron Real Estate	Pair Corr
1.0	BSCFX	Baron Small Cap	Pair Corr
0.94	BARIX	Baron Asset Fund	Pair Corr
0.93	BWBIX	Baron Wealthbuilder	Pair Corr
0.93	BWBFX	Baron Wealthbuilder	Pair Corr
0.62	BFGIX	Baron Focused Growth	Pair Corr
0.62	BFGFX	Baron Focused Growth	Pair Corr
0.62	BGAIX	Baron Global Advantage	Pair Corr
0.62	BGAFX	Baron Global Advantage	Pair Corr
0.95	BGRIX	Baron Growth	Pair Corr
0.95	BGRFX	Baron Growth	Pair Corr
0.64	BPTRX	Baron Partners	Pair Corr
0.64	BPTIX	Baron Partners	Pair Corr
0.72	VSGAX	Vanguard Small Cap	Pair Corr

Moving against Baron Mutual Fund

0.45	BTEEX	Baron Select Funds	Pair Corr
0.44	BTECX	Baron Select Funds	Pair Corr
0.44	BTEUX	Baron Select Funds	Pair Corr
0.33	BFINX	Baron Fintech	Pair Corr
0.61	BINDX	Baron India Institutional	Pair Corr
0.61	BINUX	Baron India R6	Pair Corr
0.61	BINRX	Baron India Retail	Pair Corr
0.33	BHCHX	Baron Health Care	Pair Corr
0.33	BHCFX	Baron Health Care	Pair Corr

Related Correlations Analysis

	BDFIX	VLIFX	BIOPX	BIOIX	SDLAX	BEQGX	ACFOX	AMGIX	BIGRX	HFCIX
BDFIX		0.77	0.75	0.75	-0.02	0.42	0.68	-0.24	-0.39	-0.01	BDFIX
VLIFX	0.77		0.33	0.33	0.26	0.46	0.52	0.07	-0.02	0.16	VLIFX
BIOPX	0.75	0.33		1.0	-0.04	0.53	0.77	-0.24	-0.38	-0.38	BIOPX
BIOIX	0.75	0.33	1.0		-0.05	0.53	0.76	-0.24	-0.38	-0.37	BIOIX
SDLAX	-0.02	0.26	-0.04	-0.05		0.61	0.46	0.91	0.77	-0.44	SDLAX
BEQGX	0.42	0.46	0.53	0.53	0.61		0.78	0.49	0.45	-0.44	BEQGX
ACFOX	0.68	0.52	0.77	0.76	0.46	0.78		0.29	0.1	-0.63	ACFOX
AMGIX	-0.24	0.07	-0.24	-0.24	0.91	0.49	0.29		0.91	-0.5	AMGIX
BIGRX	-0.39	-0.02	-0.38	-0.38	0.77	0.45	0.1	0.91		-0.41	BIGRX
HFCIX	-0.01	0.16	-0.38	-0.37	-0.44	-0.44	-0.63	-0.5	-0.41		HFCIX
	BDFIX	VLIFX	BIOPX	BIOIX	SDLAX	BEQGX	ACFOX	AMGIX	BIGRX	HFCIX

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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

BIOIX	+ 1.0	BIOPX
AMGIX	+ 0.91	SDLAX
BIGRX	+ 0.91	AMGIX
ACFOX	+ 0.78	BEQGX
VLIFX	+ 0.77	BDFIX
ACFOX	+ 0.77	BIOPX

High negative correlations

HFCIX	- 0.63	ACFOX
HFCIX	- 0.5	AMGIX
HFCIX	- 0.44	BEQGX
HFCIX	- 0.44	SDLAX
HFCIX	- 0.41	BIGRX
BIGRX	- 0.39	BDFIX

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
BDFIX	0.88	(0.07)	(0.06)	0.01	1.04	(0.96)	1.83	(1.89)	5.47
VLIFX	0.65	(0.05)	(0.07)	0.03	0.80	(0.70)	1.44	(1.24)	4.46
BIOPX	0.81	(0.04)	(0.04)	0.03	1.08	(0.74)	1.33	(1.87)	7.42
BIOIX	0.79	(0.03)	(0.04)	0.04	1.05	(0.72)	1.32	(1.86)	7.42
SDLAX	0.75	0.21	0.25	0.36	0.33	(0.98)	1.21	(1.14)	16.91
BEQGX	0.61	(0.01)	(0.03)	0.07	0.73	(0.63)	1.08	(1.13)	4.04
ACFOX	0.99	0.06	0.03	0.16	1.05	(1.06)	1.99	(2.30)	11.68
AMGIX	0.63	0.21	0.30	0.40	0.00	(0.75)	1.39	(0.82)	8.67
BIGRX	0.52	0.08	0.10	0.17	0.36	(0.57)	1.38	(0.85)	3.44
HFCIX	1.79	(0.46)	0.00	(0.25)	0.00	0.00	2.94	(2.90)	32.61

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