Baron Asset Correlations

BARIX Fund

USD 95.85 10.52 9.89%

The current 90-days correlation between Baron Asset Fund and Baron Small Cap is 0.51 (i.e., Very weak diversification). The correlation of Baron Asset 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 Asset Correlation With Market

Very weak diversification

The correlation between Baron Asset Fund and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baron Asset Fund 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 Asset Fund. 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	BARAX	Baron Asset Fund	Pair Corr
0.87	BWBIX	Baron Wealthbuilder	Pair Corr
0.87	BWBFX	Baron Wealthbuilder	Pair Corr
0.95	BFGIX	Baron Focused Growth	Pair Corr
0.95	BFGFX	Baron Focused Growth	Pair Corr
0.67	BIOPX	Baron Opportunity	Pair Corr
0.68	BIOIX	Baron Opportunity	Pair Corr
0.89	BPTRX	Baron Partners	Pair Corr
0.89	BPTIX	Baron Partners	Pair Corr

Moving against Baron Mutual Fund

0.32	BEXIX	Baron Emerging Markets	Pair Corr
0.32	BEXFX	Baron Emerging Markets	Pair Corr
0.6	BINUX	Baron India R6	Pair Corr
0.56	BINDX	Baron India Institutional	Pair Corr
0.5	JGRCX	Janus Enterprise	Pair Corr
0.32	PMBCX	Midcap Fund Class	Pair Corr
0.31	BIGFX	Baron International	Pair Corr
0.31	BINIX	Baron International	Pair Corr

Related Correlations Analysis

	BSCFX	SENCX	BFGUX	TRSGX	BGRFX	SGRKX	SFNNX	PRDMX
BSCFX		0.09	0.22	-0.03	0.78	0.44	-0.2	0.82	BSCFX
SENCX	0.09		0.43	0.9	-0.29	0.15	0.65	0.16	SENCX
BFGUX	0.22	0.43		0.55	-0.06	-0.3	0.61	-0.01	BFGUX
TRSGX	-0.03	0.9	0.55		-0.42	-0.11	0.85	-0.08	TRSGX
BGRFX	0.78	-0.29	-0.06	-0.42		0.31	-0.56	0.65	BGRFX
SGRKX	0.44	0.15	-0.3	-0.11	0.31		-0.33	0.82	SGRKX
SFNNX	-0.2	0.65	0.61	0.85	-0.56	-0.33		-0.3	SFNNX
PRDMX	0.82	0.16	-0.01	-0.08	0.65	0.82	-0.3		PRDMX
	BSCFX	SENCX	BFGUX	TRSGX	BGRFX	SGRKX	SFNNX	PRDMX

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

TRSGX	+ 0.9	SENCX
SFNNX	+ 0.85	TRSGX
PRDMX	+ 0.82	BSCFX
PRDMX	+ 0.82	SGRKX
BGRFX	+ 0.78	BSCFX
SFNNX	+ 0.65	SENCX

High negative correlations

SFNNX	- 0.56	BGRFX
BGRFX	- 0.42	TRSGX
SFNNX	- 0.33	SGRKX
PRDMX	- 0.3	SFNNX
SGRKX	- 0.3	BFGUX
BGRFX	- 0.29	SENCX

Risk-Adjusted Indicators

There is a big difference between Baron Mutual Fund performing well and Baron Asset 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 Asset'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
BSCFX	0.86	(0.13)	0.00	(0.04)	0.00	0.00	1.75	(1.69)	4.18
SENCX	0.56	0.00	(0.07)	0.10	0.82	(0.54)	1.28	(1.45)	3.22
BFGUX	0.93	0.13	0.12	0.20	0.84	(1.04)	1.47	(1.66)	12.67
TRSGX	0.43	0.03	(0.06)	0.30	0.55	(0.42)	0.95	(0.92)	2.49
BGRFX	0.76	(0.15)	0.00	(0.12)	0.00	0.00	1.60	(1.53)	4.92
SGRKX	1.23	(0.47)	0.00	(0.33)	0.00	0.00	1.45	(2.35)	4.74
SFNNX	0.54	0.05	0.03	0.14	0.72	(0.54)	1.30	(1.28)	2.95
PRDMX	0.96	(0.25)	0.00	(0.14)	0.00	0.00	1.31	(2.34)	4.39

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