Baron Emerging Correlations

BEXIX Fund

USD 15.37 0.03 0.20%

The current 90-days correlation between Baron Emerging Markets and Eaton Vance Income is 0.15 (i.e., Average diversification). The correlation of Baron Emerging 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 Emerging Correlation With Market

Weak diversification

The correlation between Baron Emerging Markets and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baron Emerging Markets 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 Emerging Markets. 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

1.0	BEXFX	Baron Emerging Markets	Pair Corr
0.88	BIGFX	Baron International	Pair Corr
0.89	BINIX	Baron International	Pair Corr
0.66	BNAUX	Baron New Asia	Pair Corr
0.66	BNAIX	Baron New Asia	Pair Corr
0.66	BNAFX	Baron New Asia	Pair Corr
0.96	VEMAX	Vanguard Emerging Markets	Pair Corr

Moving against Baron Mutual Fund

0.47

XGEIX

Guggenheim Energy Income

Pair Corr

Related Correlations Analysis

	EIBIX	BAGIX	CIPNX	MEDIX	MISIX
EIBIX		-0.12	0.63	0.47	-0.11	EIBIX
BAGIX	-0.12		-0.62	0.67	0.68	BAGIX
CIPNX	0.63	-0.62		-0.26	-0.58	CIPNX
MEDIX	0.47	0.67	-0.26		0.71	MEDIX
MISIX	-0.11	0.68	-0.58	0.71		MISIX
	EIBIX	BAGIX	CIPNX	MEDIX	MISIX

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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

MISIX	+ 0.71	MEDIX
MISIX	+ 0.68	BAGIX
MEDIX	+ 0.67	BAGIX
CIPNX	+ 0.63	EIBIX
MEDIX	+ 0.47	EIBIX

High negative correlations

CIPNX	- 0.62	BAGIX
MISIX	- 0.58	CIPNX
MEDIX	- 0.26	CIPNX
BAGIX	- 0.12	EIBIX
MISIX	- 0.11	EIBIX

Risk-Adjusted Indicators

There is a big difference between Baron Mutual Fund performing well and Baron Emerging 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 Emerging'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
EIBIX	0.12	0.01	(0.48)	0.25	0.00	(0.25)	0.38	(0.19)	0.96
BAGIX	0.23	(0.02)	0.00	0.39	0.00	0.00	0.51	(0.51)	1.30
CIPNX	0.83	0.00	0.04	0.11	0.89	(0.88)	1.72	(1.65)	7.22
MEDIX	0.19	0.00	(0.45)	0.49	0.16	(0.28)	0.42	(0.41)	1.16
MISIX	0.66	(0.13)	0.00	(0.14)	0.00	0.00	1.08	(1.31)	4.10

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