Longleaf Partners Correlations

Mutual Funds . USA . 
Fund . Longleaf Partners Small Cap
LLSCX Fund  USD 29.62  0.17  0.57%   
The current 90-days correlation between Longleaf Partners Small and Royce Premier Fund is 0.41 (i.e., Very weak 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

Very poor diversification

The correlation between Longleaf Partners Small Cap and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Longleaf Partners Small Cap 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 Small Cap. 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 unemployment.

Moving together with Longleaf Mutual Fund

  0.84LLGLX Longleaf Partners GlobalPairCorr
  0.79LLPFX Longleaf PartnersPairCorr
  0.94VSMAX Vanguard Small CapPairCorr
  0.94VSCIX Vanguard Small CapPairCorr
  0.94VSCPX Vanguard Small CapPairCorr
  0.94NAESX Vanguard Small CapPairCorr
  0.93FSSNX Fidelity Small CapPairCorr
  0.94DFSTX Us Small CapPairCorr
  0.93FTHSX Fuller Thaler BehavioralPairCorr
  0.93FTHNX Fuller Thaler BehavioralPairCorr
  0.84PASVX T Rowe PricePairCorr
  0.84PRVIX T Rowe PricePairCorr
  0.79FSMMX Fs Multi StrategyPairCorr
  0.82BTMPX Ishares Msci EafePairCorr
  0.89BTMKX Blackrock InternationalPairCorr
  0.89MDIIX Blackrock Intern IndexPairCorr
  0.62SPMPX Invesco Steelpath MlpPairCorr
  0.62MLPMX Oppenheimer Steelpath MlpPairCorr
  0.88FGILX Fidelity Global EquityPairCorr
  0.7RYHEX Health Care FundPairCorr
  0.81WGBFX Wealthbuilder GrowthPairCorr
  0.89FIOOX Fidelity Series 1000PairCorr
  0.8REKTX American Funds 2055PairCorr
  0.84FJPCX Fidelity JapanPairCorr
  0.65FMOTX Nuveen Missouri MunicipalPairCorr
  0.88KNGYX Cboe Vest SpPairCorr
  0.91WSCOX Wells Fargo AdvantagePairCorr
  0.82TRBQX T Rowe PricePairCorr
  0.79ETIBX Eventide Limited TermPairCorr
  0.89FFLDX Fidelity Freedom IndexPairCorr
  0.86CMCMX Conestoga Micro CapPairCorr
  0.65EHI Western Asset GlobalPairCorr
  0.66SLAPX Deutsche Latin America Steady GrowthPairCorr
  0.88JRLUX Multi Index 2045PairCorr
  0.94VMCIX Vanguard Mid CapPairCorr

Related Correlations Analysis


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.

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