Baron Real Correlations

BRIFX Fund

USD 16.56 0.15 0.91%

The current 90-days correlation between Baron Real Estate and Realty Income is 0.6 (i.e., Poor diversification). The correlation of Baron Real 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 Real Correlation With Market

Very weak diversification

The correlation between Baron Real Estate and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baron Real Estate 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 Real Estate. 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 census.

Moving together with Baron Mutual Fund

0.66	DX	Dynex Capital	Pair Corr
0.67	HR	Healthcare Realty Trust	Pair Corr
0.73	KW	Kennedy Wilson Holdings	Pair Corr
0.68	PK	Park Hotels Resorts	Pair Corr
0.85	UE	Urban Edge Properties	Pair Corr
0.75	DOUG	Douglas Elliman	Pair Corr
0.78	EQIX	Equinix	Pair Corr
0.75	WELL	Welltower	Pair Corr

Moving against Baron Mutual Fund

0.36	O	Realty Income	Pair Corr
0.36	ADC-PA	Agree Realty	Pair Corr
0.35	UK	Ucommune International	Pair Corr
0.33	AHT-PG	Ashford Hospitality Trust	Pair Corr
0.73	VTMX	Corporacin Inmobiliaria	Pair Corr
0.47	WETH	Wetouch Technology Common	Pair Corr
0.34	VNO-PL	Vornado Realty Trust	Pair Corr
0.32	VNO-PO	Vornado Realty Trust	Pair Corr
0.32	MITT-PA	AG Mortgage Investment	Pair Corr
0.55	WHLR	Wheeler Real Estate	Pair Corr

Related Correlations Analysis

	O	DX	FR	HR	KW	OZ	PK	PW	RC	UE
O		-0.57	0.91	0.16	0.17	-0.77	-0.63	-0.24	-0.05	-0.5	O
DX	-0.57		-0.42	0.41	0.24	0.79	0.68	0.24	0.45	0.46	DX
FR	0.91	-0.42		0.32	0.33	-0.62	-0.38	-0.33	0.24	-0.35	FR
HR	0.16	0.41	0.32		0.67	0.12	0.4	0.19	0.45	0.33	HR
KW	0.17	0.24	0.33	0.67		-0.1	0.35	0.21	0.17	0.56	KW
OZ	-0.77	0.79	-0.62	0.12	-0.1		0.72	0.27	0.49	0.22	OZ
PK	-0.63	0.68	-0.38	0.4	0.35	0.72		0.44	0.51	0.47	PK
PW	-0.24	0.24	-0.33	0.19	0.21	0.27	0.44		-0.05	0.17	PW
RC	-0.05	0.45	0.24	0.45	0.17	0.49	0.51	-0.05		-0.11	RC
UE	-0.5	0.46	-0.35	0.33	0.56	0.22	0.47	0.17	-0.11		UE
	O	DX	FR	HR	KW	OZ	PK	PW	RC	UE

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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

FR	+ 0.91	O
OZ	+ 0.79	DX
PK	+ 0.72	OZ
PK	+ 0.68	DX
KW	+ 0.67	HR
UE	+ 0.56	KW

High negative correlations

OZ	- 0.77	O
PK	- 0.63	O
OZ	- 0.62	FR
DX	- 0.57	O
UE	- 0.5	O
FR	- 0.42	DX

Risk-Adjusted Indicators

There is a big difference between Baron Mutual Fund performing well and Baron Real 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 Real'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
O	0.84	(0.23)	0.00	(1.05)	0.00	0.00	1.37	(1.99)	5.17
DX	0.71	0.04	0.02	0.13	0.93	(0.70)	1.13	(1.47)	3.83
FR	0.90	(0.16)	0.00	(0.23)	0.00	0.00	1.52	(1.72)	6.12
HR	1.24	(0.08)	0.00	(0.22)	0.00	0.00	2.01	(2.71)	9.00
KW	1.48	(0.12)	0.00	(0.05)	0.00	0.00	2.49	(3.10)	9.72
OZ	1.28	0.11	0.06	0.19	1.64	(1.51)	2.91	(2.65)	10.61
PK	1.22	(0.04)	(0.01)	0.01	1.87	(1.21)	2.85	(2.71)	12.02
PW	8.28	1.36	0.15	(3.19)	7.81	(11.46)	15.00	(13.84)	119.44
RC	1.28	(0.09)	0.00	(0.05)	0.00	0.00	2.42	(3.17)	8.92
UE	0.89	0.01	0.00	0.05	1.21	(0.88)	1.73	(1.72)	6.40

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