Diamond Hill Correlations

DHEIX Fund

USD 10.05 0.01 0.1%

The current 90-days correlation between Diamond Hill Short and Us Government Securities is 0.76 (i.e., Poor 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 Short and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Diamond Hill Short 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 Short. 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

1.0	DHEYX	Diamond Hill Short	Pair Corr
1.0	DHEAX	Diamond Hill Short	Pair Corr
0.79	DHFIX	Diamond Hill Large	Pair Corr
0.84	DHIAX	Diamond Hill Interna	Pair Corr
0.85	DHIIX	Diamond Hill Interna	Pair Corr
0.92	DHRAX	Diamond Hill E	Pair Corr
0.97	VBIRX	Vanguard Short Term	Pair Corr
0.95	VFSUX	Vanguard Short Term	Pair Corr
0.96	VFSIX	Vanguard Short Term	Pair Corr
0.97	VFSTX	Vanguard Short Term	Pair Corr
0.96	VBITX	Vanguard Short Term	Pair Corr
0.96	VBISX	Vanguard Short Term	Pair Corr
0.96	LALDX	Lord Abbett Short	Pair Corr
0.97	VSCSX	Vanguard Short Term	Pair Corr
0.94	LDLAX	Lord Abbett Short	Pair Corr
0.95	LDLRX	Lord Abbett Short	Pair Corr
0.82	GAAKX	Gmo Alternative Allo	Pair Corr
0.82	GAAGX	Gmo Alternative Allo	Pair Corr
0.92	GPBFX	Gmo E Plus	Pair Corr
0.76	WARCX	Wells Fargo Advantage	Pair Corr
0.88	HRBDX	Harbor Bond Fund	Pair Corr
0.88	UTF	Cohen And Steers	Pair Corr
0.82	USGDX	Morgan Stanley Government	Pair Corr
0.87	VICSX	Vanguard Intermediate-ter	Pair Corr
0.84	SGDLX	Sprott Gold Equity	Pair Corr

Moving against Diamond Mutual Fund

0.7	DHSIX	Diamond Hill Small	Pair Corr
0.54	DHTAX	Diamond Hill Select	Pair Corr
0.91	PQTAX	Pimco Trends Managed	Pair Corr
0.91	PQTNX	Pimco Trends Managed	Pair Corr
0.91	PQTIX	Aa Pimco Tr	Pair Corr
0.79	GPMFX	Guidepath Managed Futures	Pair Corr

Related Correlations Analysis

	RGVCX	BMBSX	GANPX	PATFX	FMUUX	FCSCX	LCPMX
RGVCX		0.86	0.9	0.77	0.9	0.93	0.73	RGVCX
BMBSX	0.86		0.93	0.97	0.86	0.77	0.93	BMBSX
GANPX	0.9	0.93		0.88	0.98	0.91	0.86	GANPX
PATFX	0.77	0.97	0.88		0.79	0.68	0.97	PATFX
FMUUX	0.9	0.86	0.98	0.79		0.95	0.78	FMUUX
FCSCX	0.93	0.77	0.91	0.68	0.95		0.66	FCSCX
LCPMX	0.73	0.93	0.86	0.97	0.78	0.66		LCPMX
	RGVCX	BMBSX	GANPX	PATFX	FMUUX	FCSCX	LCPMX

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
RGVCX	0.24	0.03	0.29	0.88	0.20	(0.30)	0.51	(0.42)	1.38
BMBSX	0.11	(0.01)	0.27	(0.26)	0.15	(0.13)	0.18	(0.26)	0.71
GANPX	0.06	0.00	0.42	0.03	0.00	(0.12)	0.10	(0.10)	0.48
PATFX	0.18	(0.01)	0.00	(0.33)	0.00	0.00	0.36	(0.45)	1.26
FMUUX	0.03	0.00	0.00	(0.26)	0.00	0.00	0.10	0.00	0.40
FCSCX	0.06	0.01	0.55	0.69	0.00	(0.18)	0.13	(0.13)	0.66
LCPMX	0.16	(0.01)	0.00	(1.09)	0.00	0.00	0.34	(0.45)	1.14

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