Barings Active Correlations

BXDYX Fund

USD 9.20 0.02 0.22%

The current 90-days correlation between Barings Active Short and Barings Active Short is 0.9 (i.e., Almost no diversification). The correlation of Barings Active 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 Active Correlation With Market

Significant diversification

The correlation between Barings Active Short and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Barings Active Short 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 Active Short. 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 manufacturing.

Moving together with Barings Mutual Fund

0.99	BXDCX	Barings Active Short	Pair Corr
0.77	BXFIX	Barings Global Floating	Pair Corr
0.73	BXFAX	Barings Global Floating	Pair Corr
0.76	BXFYX	Barings Global Floating	Pair Corr
0.94	BXHCX	Barings High Yield	Pair Corr
0.9	BXICX	Barings Global Credit	Pair Corr
0.88	BXIAX	Barings Global Credit	Pair Corr
0.89	BXHYX	Barings High Yield	Pair Corr
0.82	BXIYX	Barings Global Credit	Pair Corr
0.87	BXITX	Barings Global Credit	Pair Corr
0.66	LALDX	Lord Abbett Short	Pair Corr
0.76	LDLAX	Lord Abbett Short	Pair Corr
0.62	LDLRX	Lord Abbett Short	Pair Corr
0.76	RSNYX	Victory Global Natural	Pair Corr
0.76	RSNRX	Victory Global Natural	Pair Corr
0.76	RGNCX	Victory Global Natural	Pair Corr

Related Correlations Analysis

	BXDCX	BXECX	BXEAX	BXDYX	BXFIX	BXFCX	BXFAX	BXEYX	BXEIX	BXFYX
BXDCX		0.59	0.62	0.99	0.73	0.71	0.69	0.63	0.63	0.71	BXDCX
BXECX	0.59		1.0	0.54	0.01	0.0	0.03	1.0	1.0	-0.01	BXECX
BXEAX	0.62	1.0		0.57	0.05	0.04	0.08	1.0	1.0	0.04	BXEAX
BXDYX	0.99	0.54	0.57		0.77	0.75	0.73	0.58	0.58	0.76	BXDYX
BXFIX	0.73	0.01	0.05	0.77		1.0	0.97	0.07	0.06	1.0	BXFIX
BXFCX	0.71	0.0	0.04	0.75	1.0		0.97	0.05	0.04	1.0	BXFCX
BXFAX	0.69	0.03	0.08	0.73	0.97	0.97		0.09	0.08	0.97	BXFAX
BXEYX	0.63	1.0	1.0	0.58	0.07	0.05	0.09		1.0	0.05	BXEYX
BXEIX	0.63	1.0	1.0	0.58	0.06	0.04	0.08	1.0		0.04	BXEIX
BXFYX	0.71	-0.01	0.04	0.76	1.0	1.0	0.97	0.05	0.04		BXFYX
	BXDCX	BXECX	BXEAX	BXDYX	BXFIX	BXFCX	BXFAX	BXEYX	BXEIX	BXFYX

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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

BXEAX	+ 1.0	BXECX
BXEYX	+ 1.0	BXECX
BXEIX	+ 1.0	BXECX
BXEYX	+ 1.0	BXEAX
BXEIX	+ 1.0	BXEAX
BXFCX	+ 1.0	BXFIX

High negative correlations

BXFYX	- 0.01	BXECX
BXFCX	- 0.0	BXECX

Risk-Adjusted Indicators

There is a big difference between Barings Mutual Fund performing well and Barings Active 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 Active'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
BXDCX	0.09	0.00	(0.80)	0.00	0.00	(0.16)	0.22	(0.11)	0.65
BXECX	0.26	(0.02)	(0.36)	(0.03)	0.26	(0.38)	0.65	(0.40)	1.45
BXEAX	0.26	(0.01)	(0.33)	0.01	0.25	(0.38)	0.53	(0.40)	1.45
BXDYX	0.10	0.01	(0.73)	5.82	0.00	(0.16)	0.33	(0.11)	0.66
BXFIX	0.07	0.03	0.00	(0.65)	0.00	0.00	0.12	(0.11)	0.81
BXFCX	0.07	0.02	0.00	(0.90)	0.00	0.00	0.12	(0.12)	0.81
BXFAX	0.08	0.02	(0.73)	1.33	0.00	(0.25)	0.23	(0.11)	0.82
BXEYX	0.27	(0.01)	(0.35)	0.02	0.24	(0.42)	0.65	(0.52)	1.45
BXEIX	0.26	(0.01)	(0.35)	0.00	0.25	(0.39)	0.66	(0.40)	1.45
BXFYX	0.07	0.03	0.00	(1.01)	0.00	0.00	0.12	(0.11)	0.81

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