Diamond Hill Correlations

Mutual Funds . USA . 
Fund . Diamond Hill Large
DHFYX Fund  USD 14.41  0.11  0.77%   
The current 90-days correlation between Diamond Hill Large and Loomis Sayles Growth is -0.01 (i.e., Good diversification). The correlation of Diamond Hill 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.

Diamond Hill Correlation With Market

Good diversification

The correlation between Diamond Hill Large and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Diamond Hill Large and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Diamond Hill Large. 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 Diamond Mutual Fund

  1.0DHFAX Diamond Hill LargePairCorr
  0.67DHEYX Diamond Hill ShortPairCorr
  0.68DHEIX Diamond Hill ShortPairCorr
  0.69DHEAX Diamond Hill ShortPairCorr
  1.0DHFIX Diamond Hill LargePairCorr
  0.68DHLAX Diamond Hill LargePairCorr
  0.95DHMIX Diamond Hill SmallPairCorr
  0.95DHMAX Diamond Hill SmallPairCorr
  0.69DHLYX Diamond Hill LargePairCorr
  0.63DHLTX Diamond Hill AllPairCorr
  0.9DHLRX Diamond Hill LargePairCorr
  0.95DHMYX Diamond Hill SmallPairCorr
  0.96DHPIX Diamond Hill MidPairCorr
  0.96DHPAX Diamond Hill MidPairCorr
  0.96DHPYX Diamond Hill MidPairCorr
  0.96DHSYX Diamond Hill SmallPairCorr
  0.96DHSIX Diamond Hill SmallPairCorr
  0.96DHSCX Diamond Hill SmallPairCorr
  0.62DHTYX Diamond Hill AllPairCorr
  0.61DHTAX Diamond Hill SelectPairCorr
  0.94VVIAX Vanguard Value IndexPairCorr
  0.97DOXGX Dodge Cox StockPairCorr
  0.79AFMFX American MutualPairCorr
  0.86FFMMX American Funds AmericanPairCorr
  0.86FFFMX American Funds AmericanPairCorr
  0.79AMRMX American MutualPairCorr
  0.85AMFFX American MutualPairCorr
  0.85AMFCX American MutualPairCorr
  0.91DODGX Dodge Stock FundPairCorr
  0.87VIVAX Vanguard Value IndexPairCorr

Moving against Diamond Mutual Fund

  0.66DHRAX Diamond Hill EPairCorr
  0.65DHRYX Diamond Hill EPairCorr
  0.65DHRIX Diamond Hill EPairCorr
  0.42DHIAX Diamond Hill InternaPairCorr
  0.41DHIYX Diamond Hill InternaPairCorr
  0.41DHIIX Diamond Hill InternaPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Diamond Mutual Fund performing well and Diamond Hill 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 Diamond Hill'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.

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