Longleaf Partners Correlations

LLINX Fund

USD 16.03 0.13 0.80%

The current 90-days correlation between Longleaf Partners and Longleaf Partners Global is 0.84 (i.e., Very poor diversification). The correlation of Longleaf Partners 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.

Longleaf Partners Correlation With Market

Weak diversification

The correlation between Longleaf Partners Internationa and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Longleaf Partners Internationa and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Longleaf Partners International. 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 board of governors.

Moving together with Longleaf Mutual Fund

0.75	LLGLX	Longleaf Partners Global	Pair Corr
0.88	VGTSX	Vanguard Total Inter	Pair Corr
0.88	VTIAX	Vanguard Total Inter	Pair Corr
0.88	VTSNX	Vanguard Total Inter	Pair Corr
0.88	VTPSX	Vanguard Total Inter	Pair Corr
0.88	VTISX	Vanguard Total Inter	Pair Corr
0.61	VDIPX	Vanguard Developed	Pair Corr

Moving against Longleaf Mutual Fund

0.4	FSMMX	Fs Multi Strategy	Pair Corr
0.39	FMFFX	Fs Managed Futures	Pair Corr

Related Correlations Analysis

	LLGLX	LLPFX	LLSCX	VTHRX	FSHOX	RIV	RCILX	USPRX	VMIAX
LLGLX		0.86	0.53	0.82	0.85	0.89	0.63	0.7	0.91	LLGLX
LLPFX	0.86		0.79	0.76	0.88	0.76	0.82	0.94	0.83	LLPFX
LLSCX	0.53	0.79		0.61	0.74	0.47	0.7	0.85	0.64	LLSCX
VTHRX	0.82	0.76	0.61		0.93	0.83	0.55	0.72	0.86	VTHRX
FSHOX	0.85	0.88	0.74	0.93		0.87	0.72	0.85	0.86	FSHOX
RIV	0.89	0.76	0.47	0.83	0.87		0.6	0.69	0.82	RIV
RCILX	0.63	0.82	0.7	0.55	0.72	0.6		0.82	0.58	RCILX
USPRX	0.7	0.94	0.85	0.72	0.85	0.69	0.82		0.73	USPRX
VMIAX	0.91	0.83	0.64	0.86	0.86	0.82	0.58	0.73		VMIAX
	LLGLX	LLPFX	LLSCX	VTHRX	FSHOX	RIV	RCILX	USPRX	VMIAX

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Risk-Adjusted Indicators

There is a big difference between Longleaf Mutual Fund performing well and Longleaf Partners 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 Longleaf Partners' 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
LLGLX	0.61	0.00	(0.06)	0.11	0.76	(0.61)	1.03	(1.17)	4.39
LLPFX	0.53	0.01	(0.04)	0.13	0.55	(0.60)	1.05	(1.20)	3.15
LLSCX	0.62	0.03	(0.02)	0.16	0.57	(0.72)	1.50	(1.19)	3.39
VTHRX	0.35	0.02	(0.19)	3.10	0.41	(0.36)	0.78	(0.70)	2.10
FSHOX	0.79	0.12	0.04	0.56	0.74	(0.91)	1.96	(1.58)	5.50
RIV	0.48	0.02	(0.12)	0.19	0.52	(0.54)	1.04	(1.04)	2.80
RCILX	0.12	0.01	(0.17)	2.01	0.26	(0.18)	0.10	(0.21)	3.59
USPRX	0.54	0.00	(0.03)	0.12	0.66	(0.57)	1.18	(1.32)	3.91
VMIAX	0.70	(0.04)	(0.06)	0.07	0.77	(0.78)	1.31	(1.19)	3.79

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