Baron Health Correlations

BHCUX Fund

USD 19.57 0.10 0.51%

The current 90-days correlation between Baron Health Care and Baron Real Estate is 0.59 (i.e., Very weak diversification). The correlation of Baron Health 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 Health Correlation With Market

Poor diversification

The correlation between Baron Health Care and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baron Health Care 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 Health Care. 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

0.73	BEXUX	Baron Emerging Markets	Pair Corr
0.63	BGRUX	Baron Growth	Pair Corr
0.76	BIGUX	Baron Intl Growth	Pair Corr
0.91	VGHAX	Vanguard Health Care	Pair Corr
0.91	VGHCX	Vanguard Health Care	Pair Corr
0.92	PRHSX	T Rowe Price	Pair Corr
0.91	THISX	T Rowe Price	Pair Corr
0.97	VHCIX	Vanguard Health Care	Pair Corr
0.95	SHISX	Blackrock Health Sciences	Pair Corr
0.94	SHSCX	Blackrock Health Sciences	Pair Corr
0.95	SHSAX	Blackrock Health Sciences	Pair Corr
0.95	SHSSX	Blackrock Health Sciences	Pair Corr
0.95	FSPHX	Health Care Portfolio	Pair Corr

Moving against Baron Mutual Fund

0.78	BPTUX	Baron Partners	Pair Corr
0.76	BFGUX	Baron Focused Growth	Pair Corr
0.68	BGLUX	Baron Global Advantage	Pair Corr
0.65	BFTUX	Baron Fifth Avenue	Pair Corr
0.59	BWBTX	Baron Wealthbuilder	Pair Corr
0.58	BIOUX	Baron Opportunity	Pair Corr
0.46	BDFUX	Baron Discovery	Pair Corr
0.41	BFIUX	Baron Fintech	Pair Corr
0.39	BDAUX	Baron Durable Advantage	Pair Corr
0.65	IWRFX	Voya Russia Fund	Pair Corr
0.64	LETRX	Voya Russia Fund	Pair Corr
0.63	IIRFX	Voya Russia Fund	Pair Corr
0.63	CSOAX	Credit Suisse Strategic	Pair Corr
0.58	MUSDX	Us Real Estate	Pair Corr
0.53	FULBX	Federated Ultrashort Bond	Pair Corr
0.49	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.41	BRGKX	Blckrck Fds Iii	Pair Corr
0.38	KNPYX	Kinetics Paradigm	Pair Corr
0.38	WWNPX	Kinetics Paradigm	Pair Corr
0.38	KNPAX	Kinetics Paradigm	Pair Corr
0.38	KNPCX	Kinetics Paradigm	Pair Corr
0.35	VWENX	Vanguard Wellington	Pair Corr

Related Correlations Analysis

	BREUX	BRIUX	BRIFX	BARUX	BDAUX	BDFUX	BWBTX	BEXUX	BFGUX	BFIUX
BREUX		0.88	0.88	0.81	0.43	0.58	0.39	-0.16	0.18	0.61	BREUX
BRIUX	0.88		1.0	0.61	0.66	0.82	0.67	-0.55	0.52	0.83	BRIUX
BRIFX	0.88	1.0		0.61	0.66	0.82	0.67	-0.55	0.52	0.83	BRIFX
BARUX	0.81	0.61	0.61		0.17	0.3	0.09	0.07	-0.11	0.34	BARUX
BDAUX	0.43	0.66	0.66	0.17		0.86	0.91	-0.59	0.84	0.82	BDAUX
BDFUX	0.58	0.82	0.82	0.3	0.86		0.94	-0.77	0.86	0.96	BDFUX
BWBTX	0.39	0.67	0.67	0.09	0.91	0.94		-0.74	0.97	0.87	BWBTX
BEXUX	-0.16	-0.55	-0.55	0.07	-0.59	-0.77	-0.74		-0.78	-0.78	BEXUX
BFGUX	0.18	0.52	0.52	-0.11	0.84	0.86	0.97	-0.78		0.78	BFGUX
BFIUX	0.61	0.83	0.83	0.34	0.82	0.96	0.87	-0.78	0.78		BFIUX
	BREUX	BRIUX	BRIFX	BARUX	BDAUX	BDFUX	BWBTX	BEXUX	BFGUX	BFIUX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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
BFGUX	+ 0.97	BWBTX
BFIUX	+ 0.96	BDFUX
BWBTX	+ 0.94	BDFUX
BWBTX	+ 0.91	BDAUX
BRIUX	+ 0.88	BREUX

High negative correlations

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

Risk-Adjusted Indicators

There is a big difference between Baron Mutual Fund performing well and Baron Health 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 Health'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
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
BFIUX	0.65	0.06	0.07	0.10	0.73	(0.78)	1.50	(1.05)	7.17

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC