Diamond Hill Correlations

DHLYX Fund

USD 32.67 0.09 0.27%

The current 90-days correlation between Diamond Hill Large and Diamond Hill Large is 1.0 (i.e., No risk reduction). 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

Poor diversification

The correlation between Diamond Hill Large and DJI is 0.76 (i.e., Poor 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

0.73	DHFYX	Diamond Hill Large	Pair Corr
0.66	DHFIX	Diamond Hill Large	Pair Corr
0.72	DHMIX	Diamond Hill Small	Pair Corr
0.86	DHPIX	Diamond Hill Mid	Pair Corr
0.7	DHTAX	Diamond Hill Select	Pair Corr
0.95	VVIAX	Vanguard Value Index	Pair Corr
0.91	DOXGX	Dodge Cox Stock	Pair Corr
0.89	AFMFX	American Mutual	Pair Corr
0.9	FFMMX	American Funds American	Pair Corr
0.9	FFFMX	American Funds American	Pair Corr
0.9	AMRMX	American Mutual	Pair Corr
0.9	AMFFX	American Mutual	Pair Corr
0.9	AMFCX	American Mutual	Pair Corr
0.91	DODGX	Dodge Stock Fund	Pair Corr
0.95	VIVAX	Vanguard Value Index	Pair Corr
0.61	RBBCX	Columbia Income Builder	Pair Corr
0.64	IFACX	Income Fund	Pair Corr
0.81	MRDVX	Blackrock Eq Dividend	Pair Corr
0.81	RGLDX	American Funds Global	Pair Corr
0.79	THYAX	High Yield Fund	Pair Corr
0.61	MNCIX	Pro-blend(r) Conservative	Pair Corr
0.72	ABCVX	American Beacon	Pair Corr
0.61	CITEX	American High Income	Pair Corr

Moving against Diamond Mutual Fund

0.57

ABQYX

Ab Intermediate Bond

Pair Corr

Related Correlations Analysis

	DHLRX	DHLAX	LGRRX	LGRNX	LGRCX
DHLRX		1.0	0.51	0.51	0.56	DHLRX
DHLAX	1.0		0.52	0.52	0.57	DHLAX
LGRRX	0.51	0.52		1.0	0.91	LGRRX
LGRNX	0.51	0.52	1.0		0.91	LGRNX
LGRCX	0.56	0.57	0.91	0.91		LGRCX
	DHLRX	DHLAX	LGRRX	LGRNX	LGRCX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DHLRX	0.65	0.05	0.09	0.01	0.80	(0.68)	1.35	(1.35)	3.88
DHLAX	0.65	0.05	0.09	0.01	0.80	(0.67)	1.32	(1.33)	3.89
LGRRX	1.13	(0.17)	0.00	1.22	0.00	0.00	1.79	(2.32)	6.51
LGRNX	1.13	(0.17)	0.00	1.22	0.00	0.00	1.80	(2.33)	6.41
LGRCX	1.15	(0.09)	0.00	(0.16)	0.00	0.00	1.90	(2.39)	6.50

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