Baron Emerging Correlations

BEXUX Fund

USD 15.30 0.02 0.13%

The current 90-days correlation between Baron Emerging Markets and Baron Real Estate is 0.47 (i.e., Very weak 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

Modest diversification

The correlation between Baron Emerging Markets and DJI is 0.26 (i.e., Modest 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 employment.

Moving together with Baron Mutual Fund

0.92	BIGUX	Baron Intl Growth	Pair Corr
0.93	VEMAX	Vanguard Emerging Markets	Pair Corr
0.93	VEIEX	Vanguard Emerging Markets	Pair Corr
0.93	VEMIX	Vanguard Emerging Markets	Pair Corr
0.94	VEMRX	Vanguard Emerging Markets	Pair Corr
0.89	FWWNX	American Funds New	Pair Corr
0.89	FNFWX	American Funds New	Pair Corr
0.9	NEWFX	New World Fund	Pair Corr
0.9	NWFFX	New World Fund	Pair Corr
0.92	NEWCX	New World Fund	Pair Corr
0.99	ODVYX	Oppenheimer Developing	Pair Corr
0.7	USPSX	Profunds Ultrashort	Pair Corr
0.84	PDI	Pimco Dynamic Income	Pair Corr
0.7	USPIX	Profunds Ultrashort	Pair Corr

Moving against Baron Mutual Fund

0.8	BFTUX	Baron Fifth Avenue	Pair Corr
0.78	BFGUX	Baron Focused Growth	Pair Corr
0.77	BDFUX	Baron Discovery	Pair Corr
0.77	BGLUX	Baron Global Advantage	Pair Corr
0.77	BIOUX	Baron Opportunity	Pair Corr
0.74	BWBTX	Baron Wealthbuilder	Pair Corr
0.73	BPTUX	Baron Partners	Pair Corr
0.59	BDAUX	Baron Durable Advantage	Pair Corr
0.55	BRIUX	Baron Real Estate	Pair Corr
0.55	BRIFX	Baron Real Estate	Pair Corr
0.81	PYARX	Payden Absolute Return	Pair Corr
0.8	FFRIX	Fidelity Advisor Floating	Pair Corr
0.8	OANLX	Oakmark Select	Pair Corr
0.79	VLIIX	Value Line Income	Pair Corr
0.79	ODIDX	Oaktree Diversifiedome	Pair Corr
0.73	FAGAX	Fidelity Advisor Growth	Pair Corr
0.66	FECAX	Fidelity Investment Trust	Pair Corr
0.64	BCAAX	Brandywineglobal C	Pair Corr
0.62	GICPX	Gamco Global Growth	Pair Corr
0.51	RYILX	Rydex Sers Fds	Pair Corr
0.41	PYAIX	Payden Absolute Return	Pair Corr
0.35	FTCAX	Templeton Strained Bond	Pair Corr

Related Correlations Analysis

	BREUX	BRIUX	BRIFX	BSCUX	BARUX	BDAUX	BDFUX	BWBTX	BEXUX	BFGUX
BREUX		0.88	0.88	0.88	0.81	0.43	0.58	0.39	-0.16	0.18	BREUX
BRIUX	0.88		1.0	0.71	0.61	0.66	0.82	0.67	-0.55	0.52	BRIUX
BRIFX	0.88	1.0		0.71	0.61	0.66	0.82	0.67	-0.55	0.52	BRIFX
BSCUX	0.88	0.71	0.71		0.97	0.3	0.46	0.23	-0.04	0.02	BSCUX
BARUX	0.81	0.61	0.61	0.97		0.17	0.3	0.09	0.07	-0.11	BARUX
BDAUX	0.43	0.66	0.66	0.3	0.17		0.86	0.91	-0.59	0.84	BDAUX
BDFUX	0.58	0.82	0.82	0.46	0.3	0.86		0.94	-0.77	0.86	BDFUX
BWBTX	0.39	0.67	0.67	0.23	0.09	0.91	0.94		-0.74	0.97	BWBTX
BEXUX	-0.16	-0.55	-0.55	-0.04	0.07	-0.59	-0.77	-0.74		-0.78	BEXUX
BFGUX	0.18	0.52	0.52	0.02	-0.11	0.84	0.86	0.97	-0.78		BFGUX
	BREUX	BRIUX	BRIFX	BSCUX	BARUX	BDAUX	BDFUX	BWBTX	BEXUX	BFGUX

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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

BRIFX	+ 1.0	BRIUX
BARUX	+ 0.97	BSCUX
BFGUX	+ 0.97	BWBTX
BWBTX	+ 0.94	BDFUX
BWBTX	+ 0.91	BDAUX
BRIUX	+ 0.88	BREUX

High negative correlations

BFGUX	- 0.78	BEXUX
BEXUX	- 0.77	BDFUX
BEXUX	- 0.74	BWBTX
BEXUX	- 0.59	BDAUX
BEXUX	- 0.55	BRIFX
BEXUX	- 0.55	BRIUX

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
BREUX	0.81	(0.07)	0.00	(0.05)	0.00	0.00	1.54	(1.74)	7.11
BRIUX	0.70	(0.03)	(0.03)	(0.01)	1.11	(0.71)	1.32	(1.41)	6.50
BRIFX	0.70	(0.03)	(0.03)	(0.01)	1.09	(0.73)	1.33	(1.37)	6.40
BSCUX	0.98	(0.19)	0.00	(0.10)	0.00	0.00	1.60	(1.66)	16.99
BARUX	0.91	(0.24)	0.00	(0.18)	0.00	0.00	1.41	(2.08)	17.62
BDAUX	0.66	0.05	0.04	0.10	0.96	(0.72)	1.22	(1.15)	5.79
BDFUX	0.91	0.09	0.08	0.10	1.10	(0.97)	1.84	(1.82)	8.45
BWBTX	0.71	0.09	0.08	0.13	0.92	(0.76)	1.30	(1.40)	6.95
BEXUX	0.70	(0.05)	0.00	(0.14)	0.00	0.00	1.46	(1.83)	4.83
BFGUX	0.80	0.22	0.23	0.26	0.65	(0.99)	1.89	(1.42)	10.17

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