Baron Small Correlations

BSFIX Fund

USD 29.98 0.95 3.27%

The current 90-days correlation between Baron Small Cap and Baron Discovery Fund is 0.64 (i.e., Poor 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 0.85 (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 gross domestic product.

Moving together with Baron Mutual Fund

0.92	BREIX	Baron Real Estate	Pair Corr
0.92	BREFX	Baron Real Estate	Pair Corr
1.0	BSCFX	Baron Small Cap	Pair Corr
0.96	BARAX	Baron Asset Fund	Pair Corr
0.96	BARIX	Baron Asset Fund	Pair Corr
0.72	BDAIX	Baron Durable Advantage	Pair Corr
0.71	BDAFX	Baron Durable Advantage	Pair Corr
0.68	BDFIX	Baron Discovery	Pair Corr
0.68	BDFFX	Baron Discovery	Pair Corr
0.96	BWBIX	Baron Wealthbuilder	Pair Corr
0.96	BWBFX	Baron Wealthbuilder	Pair Corr
0.64	BEXIX	Baron Emerging Markets	Pair Corr
0.63	BEXFX	Baron Emerging Markets	Pair Corr
0.8	BFGIX	Baron Focused Growth	Pair Corr
0.8	BFGFX	Baron Focused Growth	Pair Corr
0.74	BFTHX	Baron Fifth Avenue	Pair Corr
0.74	BGAIX	Baron Global Advantage	Pair Corr
0.74	BGAFX	Baron Global Advantage	Pair Corr
0.97	BGRIX	Baron Growth	Pair Corr
0.97	BGRFX	Baron Growth	Pair Corr
0.72	BIGFX	Baron International	Pair Corr
0.72	BINIX	Baron International	Pair Corr
0.81	BPTRX	Baron Partners	Pair Corr
0.81	BPTIX	Baron Partners	Pair Corr
0.85	VSGAX	Vanguard Small Cap	Pair Corr

Moving against Baron Mutual Fund

0.34	BTEEX	Baron Select Funds	Pair Corr
0.34	BTECX	Baron Select Funds	Pair Corr
0.34	BTEUX	Baron Select Funds	Pair Corr
0.78	BINRX	Baron India Retail	Pair Corr
0.77	BINDX	Baron India Institutional	Pair Corr
0.77	BINUX	Baron India R6	Pair Corr
0.62	XNXJX	Nuveen New Jersey	Pair Corr
0.5	XDSMX	Dreyfus Strategic	Pair Corr
0.38	NXJ	Nuveen New Jersey	Pair Corr

Related Correlations Analysis

	BREIX	BREFX	BRIIX	BSCFX	BARAX	BSFIX	BARIX	BDAFX	BDFIX	BDFFX
BREIX		1.0	0.83	0.91	0.87	0.92	0.87	0.76	0.75	0.74	BREIX
BREFX	1.0		0.83	0.91	0.87	0.92	0.87	0.76	0.75	0.74	BREFX
BRIIX	0.83	0.83		0.6	0.55	0.6	0.55	0.57	0.53	0.53	BRIIX
BSCFX	0.91	0.91	0.6		0.96	1.0	0.96	0.7	0.67	0.66	BSCFX
BARAX	0.87	0.87	0.55	0.96		0.96	1.0	0.61	0.64	0.63	BARAX
BSFIX	0.92	0.92	0.6	1.0	0.96		0.96	0.71	0.68	0.68	BSFIX
BARIX	0.87	0.87	0.55	0.96	1.0	0.96		0.61	0.65	0.64	BARIX
BDAFX	0.76	0.76	0.57	0.7	0.61	0.71	0.61		0.79	0.79	BDAFX
BDFIX	0.75	0.75	0.53	0.67	0.64	0.68	0.65	0.79		1.0	BDFIX
BDFFX	0.74	0.74	0.53	0.66	0.63	0.68	0.64	0.79	1.0		BDFFX
	BREIX	BREFX	BRIIX	BSCFX	BARAX	BSFIX	BARIX	BDAFX	BDFIX	BDFFX

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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
BREIX	0.73	0.02	0.02	0.10	0.80	(0.75)	1.64	(1.62)	5.20
BREFX	0.73	0.02	0.02	0.11	0.80	(0.77)	1.64	(1.65)	5.19
BRIIX	0.53	0.02	(0.03)	0.11	0.59	(0.61)	1.23	(1.03)	3.45
BSCFX	1.03	0.08	0.07	0.16	0.90	(1.21)	2.41	(1.79)	12.61
BARAX	0.99	0.22	0.22	0.49	0.50	(1.28)	1.65	(1.22)	14.54
BSFIX	1.01	0.06	0.05	0.14	0.93	(1.18)	2.42	(1.81)	11.51
BARIX	0.97	0.20	0.20	0.44	0.51	(1.24)	1.64	(1.22)	13.40
BDAFX	0.78	(0.10)	0.00	(0.04)	0.00	0.00	1.52	(1.93)	4.80
BDFIX	0.90	(0.14)	0.00	(0.04)	0.00	0.00	1.83	(1.89)	4.59
BDFFX	0.90	(0.14)	0.00	(0.04)	0.00	0.00	1.86	(1.89)	4.55

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