Diamond Hill Correlations

Mutual Funds . USA . 
Fund . Diamond Hill Large
DHFIX Fund  USD 14.27  0.12  0.83%   
The current 90-days correlation between Diamond Hill Large and Diamond Hill Large is 0.97 (i.e., Almost no 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

Very poor diversification

The correlation between Diamond Hill Large 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 Diamond Hill Large 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 Large. 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

  0.92DHFAX Diamond Hill LargePairCorr
  0.74DHEYX Diamond Hill ShortPairCorr
  0.73DHEIX Diamond Hill ShortPairCorr
  0.75DHEAX Diamond Hill ShortPairCorr
  1.0DHFYX Diamond Hill LargePairCorr
  0.99DHLAX Diamond Hill LargePairCorr
  0.96DHMIX Diamond Hill SmallPairCorr
  0.99DHLYX Diamond Hill LargePairCorr
  0.86DHLTX Diamond Hill AllPairCorr
  0.99DHLRX Diamond Hill LargePairCorr
  0.96DHMYX Diamond Hill SmallPairCorr
  0.96DHPIX Diamond Hill MidPairCorr
  0.96DHPAX Diamond Hill MidPairCorr
  0.96DHPYX Diamond Hill MidPairCorr
  0.97DHSYX Diamond Hill SmallPairCorr
  0.97DHSIX Diamond Hill SmallPairCorr
  0.97DHSCX Diamond Hill SmallPairCorr
  0.95DHTYX Diamond Hill AllPairCorr
  0.95DHTAX Diamond Hill SelectPairCorr
  0.88VVIAX Vanguard Value IndexPairCorr
  0.91DOXGX Dodge Cox StockPairCorr
  0.88AFMFX American MutualPairCorr
  0.8FFMMX American Funds AmericanPairCorr
  0.8FFFMX American Funds AmericanPairCorr
  0.87AMRMX American MutualPairCorr
  0.8AMFFX American MutualPairCorr
  0.79AMFCX American MutualPairCorr
  0.97DODGX Dodge Stock FundPairCorr
  0.95VIVAX Vanguard Value IndexPairCorr

Moving against Diamond Mutual Fund

  0.47DHIAX Diamond Hill InternaPairCorr
  0.46DHIIX Diamond Hill InternaPairCorr
  0.45DHIYX Diamond Hill InternaPairCorr
  0.63DHRYX Diamond Hill EPairCorr
  0.63DHRIX Diamond Hill EPairCorr
  0.63DHRAX Diamond Hill EPairCorr
  0.63GPBFX Gmo E PlusPairCorr
  0.54GAAGX Gmo Alternative AlloPairCorr

Related Correlations Analysis

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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.

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