Longleaf Partners Correlations

LLPFX Fund

USD 22.45 0.06 0.27%

The current 90-days correlation between Longleaf Partners and Red Oak Technology is 0.04 (i.e., Significant 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

Significant diversification

The correlation between Longleaf Partners Fund 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 Longleaf Partners Fund 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 Fund. 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 census.

Moving together with Longleaf Mutual Fund

0.74	LLGLX	Longleaf Partners Global	Pair Corr
0.77	LLINX	Longleaf Partners	Pair Corr
0.73	JMVZX	Jpmorgan Mid Cap	Pair Corr

Moving against Longleaf Mutual Fund

0.61	JMVQX	Jpmorgan Mid Cap	Pair Corr
0.6	JMVRX	Jpmorgan Mid Cap	Pair Corr
0.6	JMVYX	Jpmorgan Mid Cap	Pair Corr
0.52	JMVPX	Jpmorgan Mid Cap	Pair Corr
0.52	STEZX	International Strategic	Pair Corr
0.51	DTCYX	The Dreyfus Sustainable	Pair Corr
0.39	BUFMX	Buffalo Mid Cap	Pair Corr
0.45	JRSAX	Intech Managed Volatility	Pair Corr
0.43	LCCAX	Columbia Trarian Core	Pair Corr
0.41	PYCEX	Payden Emerging Markets	Pair Corr
0.4	FKAIX	Federated Kaufmann Small	Pair Corr

Related Correlations Analysis

	ROGSX	PTTEX	JGLTX	TEPIX	TEFQX	JNGTX	PGKCX	USTCX
ROGSX		0.5	0.86	0.89	0.44	0.56	0.71	0.6	ROGSX
PTTEX	0.5		0.71	0.76	0.52	-0.17	0.9	0.79	PTTEX
JGLTX	0.86	0.71		0.95	0.67	0.23	0.84	0.75	JGLTX
TEPIX	0.89	0.76	0.95		0.54	0.34	0.91	0.71	TEPIX
TEFQX	0.44	0.52	0.67	0.54		-0.04	0.45	0.43	TEFQX
JNGTX	0.56	-0.17	0.23	0.34	-0.04		0.03	-0.17	JNGTX
PGKCX	0.71	0.9	0.84	0.91	0.45	0.03		0.85	PGKCX
USTCX	0.6	0.79	0.75	0.71	0.43	-0.17	0.85		USTCX
	ROGSX	PTTEX	JGLTX	TEPIX	TEFQX	JNGTX	PGKCX	USTCX

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

TEPIX	+ 0.95	JGLTX
PGKCX	+ 0.91	TEPIX
PGKCX	+ 0.9	PTTEX
TEPIX	+ 0.89	ROGSX
JGLTX	+ 0.86	ROGSX
USTCX	+ 0.85	PGKCX

High negative correlations

USTCX	- 0.17	JNGTX
JNGTX	- 0.17	PTTEX
JNGTX	- 0.04	TEFQX

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
ROGSX	0.93	(0.05)	(0.03)	0.03	1.43	(0.85)	1.81	(2.26)	5.65
PTTEX	1.14	(0.20)	0.00	(0.13)	0.00	0.00	1.93	(2.68)	12.16
JGLTX	0.95	(0.06)	(0.04)	0.01	1.54	(0.85)	2.13	(2.69)	5.55
TEPIX	1.47	(0.08)	(0.01)	0.03	2.56	(1.21)	2.78	(4.03)	8.82
TEFQX	1.51	(0.23)	0.00	(0.06)	0.00	0.00	2.85	(4.32)	8.44
JNGTX	1.18	0.17	0.11	0.21	1.30	(1.23)	2.42	(2.70)	19.25
PGKCX	1.06	(0.12)	0.00	(0.03)	0.00	0.00	2.08	(2.84)	6.81
USTCX	1.12	(0.18)	0.00	(0.06)	0.00	0.00	2.03	(2.61)	14.62

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