Barings Global Correlations

BXICX Fund

USD 7.73 0.01 0.13%

The current 90-days correlation between Barings Global Credit and Blackrock High Yield is 0.04 (i.e., Significant diversification). The correlation of Barings Global 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.

Barings Global Correlation With Market

Significant diversification

The correlation between Barings Global Credit and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Barings Global Credit 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 Barings Global Credit. 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 main economic indicators.

Moving together with Barings Mutual Fund

0.91	BXDCX	Barings Active Short	Pair Corr
0.94	BXDYX	Barings Active Short	Pair Corr
0.87	BXFIX	Barings Global Floating	Pair Corr
0.88	BXFCX	Barings Global Floating	Pair Corr
0.89	BXFAX	Barings Global Floating	Pair Corr
0.89	BXFYX	Barings Global Floating	Pair Corr
0.92	BXHCX	Barings High Yield	Pair Corr
0.95	BXIAX	Barings Global Credit	Pair Corr
0.99	BXIYX	Barings Global Credit	Pair Corr
0.95	BXITX	Barings Global Credit	Pair Corr
0.88	VWEAX	Vanguard High Yield	Pair Corr
0.86	VWEHX	Vanguard High Yield	Pair Corr
0.91	BHYCX	Blackrock Hi Yld	Pair Corr
0.92	BHYIX	Blackrock High Yield	Pair Corr
0.92	BHYSX	Blackrock Hi Yld	Pair Corr
0.92	BHYAX	Blackrock High Yield	Pair Corr
0.92	FAHHX	American Funds American	Pair Corr
0.92	FTAHX	American Funds American	Pair Corr
0.92	AHTFX	American High Income	Pair Corr
0.91	AHTCX	American High Income	Pair Corr
0.67	ASG	Liberty All Star	Pair Corr
0.69	ETV	Eaton Vance Tax	Pair Corr
0.61	CLM	Cornerstone Strategic	Pair Corr
0.67	CRF	Cornerstone Strategic	Pair Corr
0.67	USA	Liberty All Star	Pair Corr
0.72	ETY	Eaton Vance Tax	Pair Corr
0.7	NFJ	Virtus Dividend Interest	Pair Corr

Related Correlations Analysis

	BHYAX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF	VIASP	144285AL7
BHYAX		-0.63	0.0	-0.45	0.72	0.98	0.56	-0.26	0.23	-0.07	BHYAX
444859BR2	-0.63		0.0	0.3	-0.62	-0.59	-0.09	0.21	-0.34	0.08	444859BR2
AQUI	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	AQUI
BRRAY	-0.45	0.3	0.0		-0.5	-0.45	-0.44	-0.02	0.08	-0.24	BRRAY
MSTSX	0.72	-0.62	0.0	-0.5		0.72	0.4	0.03	-0.09	0.13	MSTSX
LBHIX	0.98	-0.59	0.0	-0.45	0.72		0.62	-0.21	0.17	-0.02	LBHIX
ABHYX	0.56	-0.09	0.0	-0.44	0.4	0.62		-0.01	-0.21	0.3	ABHYX
SCAXF	-0.26	0.21	0.0	-0.02	0.03	-0.21	-0.01		-0.71	0.39	SCAXF
VIASP	0.23	-0.34	0.0	0.08	-0.09	0.17	-0.21	-0.71		-0.52	VIASP
144285AL7	-0.07	0.08	0.0	-0.24	0.13	-0.02	0.3	0.39	-0.52		144285AL7
	BHYAX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF	VIASP	144285AL7

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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

LBHIX	+ 0.98	BHYAX
MSTSX	+ 0.72	BHYAX
LBHIX	+ 0.72	MSTSX
ABHYX	+ 0.62	LBHIX
ABHYX	+ 0.56	BHYAX
ABHYX	+ 0.4	MSTSX

High negative correlations

VIASP	- 0.71	SCAXF
444859BR2	- 0.63	BHYAX
MSTSX	- 0.62	444859BR2
LBHIX	- 0.59	444859BR2
144285AL7	- 0.52	VIASP
MSTSX	- 0.5	BRRAY

Risk-Adjusted Indicators

There is a big difference between Barings Mutual Fund performing well and Barings Global 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 Barings Global'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
BHYAX	0.13	0.02	(0.30)	(0.73)	0.00	(0.21)	0.28	(0.28)	0.85
444859BR2	1.32	0.04	0.00	0.04	0.00	0.00	5.93	(4.60)	16.62
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRRAY	1.27	(0.10)	0.00	0.01	0.00	0.00	0.00	(2.98)	34.02
MSTSX	0.49	(0.03)	(0.09)	0.05	0.52	(0.59)	1.21	(1.02)	2.80
LBHIX	0.11	0.00	(0.27)	0.00	0.00	(0.29)	0.24	(0.24)	0.96
ABHYX	0.16	0.00	(0.17)	0.11	0.26	(0.23)	0.34	(0.33)	1.91
SCAXF	0.70	(0.40)	0.00	(1.01)	0.00	0.00	0.00	0.00	23.47
VIASP	0.75	0.14	0.04	(6.44)	1.01	(0.84)	2.28	(1.15)	7.18
144285AL7	0.36	(0.02)	0.00	4.40	0.00	0.00	0.96	(0.95)	2.51

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