Diamond Hill Correlations

DHRIX Fund

USD 9.08 0.02 0.22%

The current 90-days correlation between Diamond Hill E and Ffcdax is 0.24 (i.e., Modest 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

Significant diversification

The correlation between Diamond Hill E and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Diamond Hill E 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 E. 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 Diamond Mutual Fund

0.71	DHFAX	Diamond Hill Large	Pair Corr
0.64	DHEYX	Diamond Hill Short	Pair Corr
0.64	DHEIX	Diamond Hill Short	Pair Corr
0.64	DHEAX	Diamond Hill Short	Pair Corr
0.71	DHFYX	Diamond Hill Large	Pair Corr
0.71	DHFIX	Diamond Hill Large	Pair Corr
0.84	DHIAX	Diamond Hill Interna	Pair Corr
0.84	DHIYX	Diamond Hill Interna	Pair Corr
0.84	DHIIX	Diamond Hill Interna	Pair Corr
1.0	DHRYX	Diamond Hill E	Pair Corr
1.0	DHRAX	Diamond Hill E	Pair Corr
0.91	VBTLX	Vanguard Total Bond	Pair Corr
0.97	VBMFX	Vanguard Total Bond	Pair Corr
0.97	VBTIX	Vanguard Total Bond	Pair Corr
0.98	VTBSX	Vanguard Total Bond	Pair Corr
0.98	VTBIX	Vanguard Total Bond	Pair Corr
0.98	VTBNX	Vanguard Total Bond	Pair Corr
0.99	FBOFX	American Funds	Pair Corr
0.99	FFBOX	American Funds	Pair Corr
0.98	BFAFX	Bond Fund	Pair Corr
0.98	ABNDX	Bond Fund	Pair Corr

Moving against Diamond Mutual Fund

0.54	SMPIX	Semiconductor Ultrasector	Pair Corr
0.47	SMPSX	Semiconductor Ultrasector	Pair Corr

Related Correlations Analysis

	FFCDAX	FXYBJX	FDZBPX	FSULTX	FZDAQX	FWNHTX
FFCDAX		0.46	0.51	0.8	0.98	0.68	FFCDAX
FXYBJX	0.46		0.94	0.16	0.41	0.37	FXYBJX
FDZBPX	0.51	0.94		0.14	0.44	0.3	FDZBPX
FSULTX	0.8	0.16	0.14		0.83	0.68	FSULTX
FZDAQX	0.98	0.41	0.44	0.83		0.69	FZDAQX
FWNHTX	0.68	0.37	0.3	0.68	0.69		FWNHTX
	FFCDAX	FXYBJX	FDZBPX	FSULTX	FZDAQX	FWNHTX

Click cells to compare fundamentals

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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
FFCDAX	0.12	0.00	0.35	0.05	0.17	(0.15)	0.21	(0.21)	1.03
FXYBJX	0.37	(0.03)	0.00	0.62	0.00	0.00	0.67	(0.77)	2.01
FDZBPX	0.37	(0.03)	0.00	0.15	0.00	0.00	0.70	(0.80)	2.23
FSULTX	0.28	0.02	0.30	1.70	0.33	(0.31)	0.61	(0.42)	1.75
FZDAQX	0.11	0.00	0.37	(0.10)	0.13	(0.14)	0.21	(0.21)	0.93
FWNHTX	0.02	0.00	3.52	0.00	0.00	(0.02)	0.05	(0.04)	0.16

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