Buffalo Discovery Correlations

Mutual Funds . USA . 
Fund . Buffalo Discovery
BUITX Fund  USD 27.01  0.13  0.48%   
The current 90-days correlation between Buffalo Discovery and Pace Large Growth is 0.82 (i.e., Very poor diversification). The correlation of Buffalo 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.

Buffalo Discovery Correlation With Market

Very poor diversification

The correlation between Buffalo Discovery and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Buffalo Discovery 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 Buffalo Discovery. 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 estimate.

Moving together with Buffalo Mutual Fund

  0.92BUFSX Buffalo Small CapPairCorr
  0.87BUFOX Buffalo Emerging OppPairCorr
  0.92BUFMX Buffalo Mid CapPairCorr
  0.88BUFGX Buffalo GrowthPairCorr
  0.82BUFHX Buffalo High YieldPairCorr
  0.94BUFEX Buffalo Large CapPairCorr
  0.92BUFDX Buffalo Dividend FocusPairCorr
  1.0BUFTX Buffalo DiscoveryPairCorr
  0.92BUISX Buffalo Small CapPairCorr
  0.98BUIMX Buffalo Mid CapPairCorr
  0.94BUIOX Buffalo Early StagePairCorr
  0.81BUIHX Buffalo High YieldPairCorr
  0.94BUIEX Buffalo Large CapPairCorr
  0.96BUIDX Buffalo Dividend FocusPairCorr
  0.64BUIBX Buffalo Flexible IncomePairCorr
  0.94BIIGX Buffalo GrowthPairCorr
  0.98PAMCX T Rowe PricePairCorr
  0.98RRMGX T Rowe PricePairCorr
  0.98TRQZX T Rowe PricePairCorr
  0.91RPMGX T Rowe PricePairCorr
  0.93PRJIX T Rowe PricePairCorr
  0.93PRNHX T Rowe PricePairCorr
  0.93TRUZX T Rowe PricePairCorr
  0.97PCBIX Midcap Fund InstitutionalPairCorr
  0.92PEMGX Midcap Fund ClassPairCorr
  0.97PMBCX Midcap Fund ClassPairCorr
  0.86LSHUX Horizon Spin Off Steady GrowthPairCorr
  0.86LSHEX Kinetics Spin Off Steady GrowthPairCorr
  0.86LSHCX Horizon Spin Off Steady GrowthPairCorr
  0.85WWNPX Kinetics Paradigm Steady GrowthPairCorr
  0.85KNPCX Kinetics Paradigm Steady GrowthPairCorr
  0.82OSPPX Oppenheimer Steelpath MlpPairCorr
  0.82SPMPX Invesco Steelpath MlpPairCorr
  0.86LSHAX Horizon Spin Off Steady GrowthPairCorr
  0.81SPMJX Invesco Steelpath MlpPairCorr
  0.85KNPYX Kinetics Paradigm Steady GrowthPairCorr

Moving against Buffalo Mutual Fund

  0.51BUFIX Buffalo InternationalPairCorr
  0.5BUIIX Buffalo InternationalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Buffalo Mutual Fund performing well and Buffalo 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 Buffalo 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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