Correlation Between Baron Partners and The Hartford
Can any of the company-specific risk be diversified away by investing in both Baron Partners and The Hartford at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Baron Partners and The Hartford into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Baron Partners Fund and The Hartford Growth, you can compare the effects of market volatilities on Baron Partners and The Hartford and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Baron Partners with a short position of The Hartford. Check out your portfolio center. Please also check ongoing floating volatility patterns of Baron Partners and The Hartford.
Diversification Opportunities for Baron Partners and The Hartford
0.52 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Baron and The is 0.52. Overlapping area represents the amount of risk that can be diversified away by holding Baron Partners Fund and The Hartford Growth in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hartford Growth and Baron Partners is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Baron Partners Fund are associated (or correlated) with The Hartford. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hartford Growth has no effect on the direction of Baron Partners i.e., Baron Partners and The Hartford go up and down completely randomly.
Pair Corralation between Baron Partners and The Hartford
Assuming the 90 days horizon Baron Partners Fund is expected to generate 0.93 times more return on investment than The Hartford. However, Baron Partners Fund is 1.08 times less risky than The Hartford. It trades about -0.06 of its potential returns per unit of risk. The Hartford Growth is currently generating about -0.09 per unit of risk. If you would invest 22,499 in Baron Partners Fund on September 4, 2025 and sell it today you would lose (437.00) from holding Baron Partners Fund or give up 1.94% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Baron Partners Fund vs. The Hartford Growth
Performance |
| Timeline |
| Baron Partners |
| Hartford Growth |
Baron Partners and The Hartford Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Baron Partners and The Hartford
The main advantage of trading using opposite Baron Partners and The Hartford positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Baron Partners position performs unexpectedly, The Hartford can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in The Hartford will offset losses from the drop in The Hartford's long position.| Baron Partners vs. Ultramid Cap Profund Ultramid Cap | Baron Partners vs. Small Cap Value Profund | Baron Partners vs. Mid Cap Value Profund | Baron Partners vs. Small Cap Growth Profund |
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Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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