Diamond Hill Correlations

DHIL Stock

USD 145.38 1.72 1.20%

The current 90-days correlation between Diamond Hill Investment and Blackrock Muniyield is 0.35 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Diamond Hill moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Diamond Hill Investment moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Diamond Hill Correlation With Market

Very good diversification

The correlation between Diamond Hill Investment and DJI is -0.24 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Diamond Hill Investment 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 Investment. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Diamond Stock

0.72	WD	Walker Dunlop	Pair Corr
0.68	ORGN	Origin Materials	Pair Corr
0.73	BITF	Bitfarms Aggressive Push	Pair Corr
0.73	CODI	Compass Diversified	Pair Corr

Moving against Diamond Stock

0.56	V	Visa Class A	Pair Corr
0.55	GDST	Goldenstone Acquisition	Pair Corr
0.52	PT	Pintec Technology	Pair Corr
0.46	OPFI	OppFi Inc	Pair Corr
0.45	MA	Mastercard	Pair Corr
0.61	COOP	Mr Cooper Group	Pair Corr
0.58	BK	Bank of New York	Pair Corr
0.52	BBDC	Barings BDC	Pair Corr
0.32	C	Citigroup Aggressive Push	Pair Corr
0.76	GL	Globe Life	Pair Corr
0.65	LX	Lexinfintech Holdings	Pair Corr
0.59	DB	Deutsche Bank AG	Pair Corr
0.48	LU	Lufax Holding	Pair Corr

Related Correlations Analysis

	FMN	MYD	NXG	FHI	MHD	DTF	JHS	CXH	CBH	MVF
FMN		0.89	0.22	-0.32	0.84	0.72	0.41	0.81	0.0	0.8	FMN
MYD	0.89		0.41	-0.37	0.95	0.86	0.4	0.88	0.0	0.9	MYD
NXG	0.22	0.41		-0.67	0.48	0.62	-0.16	0.41	0.0	0.53	NXG
FHI	-0.32	-0.37	-0.67		-0.38	-0.51	0.24	-0.34	0.0	-0.45	FHI
MHD	0.84	0.95	0.48	-0.38		0.82	0.23	0.8	0.0	0.91	MHD
DTF	0.72	0.86	0.62	-0.51	0.82		0.24	0.87	0.0	0.84	DTF
JHS	0.41	0.4	-0.16	0.24	0.23	0.24		0.48	0.0	0.26	JHS
CXH	0.81	0.88	0.41	-0.34	0.8	0.87	0.48		0.0	0.84	CXH
CBH	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	CBH
MVF	0.8	0.9	0.53	-0.45	0.91	0.84	0.26	0.84	0.0		MVF
	FMN	MYD	NXG	FHI	MHD	DTF	JHS	CXH	CBH	MVF

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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

MHD	+ 0.95	MYD
MVF	+ 0.91	MHD
MVF	+ 0.9	MYD
MYD	+ 0.89	FMN
CXH	+ 0.88	MYD
CXH	+ 0.87	DTF

High negative correlations

FHI	- 0.67	NXG
DTF	- 0.51	FHI
MVF	- 0.45	FHI
MHD	- 0.38	FHI
FHI	- 0.37	MYD
CXH	- 0.34	FHI

Risk-Adjusted Indicators

There is a big difference between Diamond Stock performing well and Diamond Hill Company 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
FMN	0.45	(0.03)	0.00	0.37	0.00	0.00	0.81	(0.99)	3.01
MYD	0.47	(0.03)	0.00	(0.24)	0.00	0.00	0.97	(1.06)	2.63
NXG	1.49	0.21	0.09	0.41	2.52	(1.46)	3.26	(2.68)	13.35
FHI	0.93	(0.04)	0.00	(0.10)	0.00	0.00	2.05	(2.41)	6.23
MHD	0.50	(0.02)	0.00	(0.20)	0.00	0.00	0.94	(1.03)	2.80
DTF	0.32	0.00	0.07	(0.11)	0.47	(0.32)	0.72	(0.62)	1.72
JHS	0.38	(0.01)	0.00	(0.12)	0.00	0.00	0.64	(0.91)	2.23
CXH	0.38	(0.01)	0.04	(0.10)	0.56	(0.37)	0.76	(1.00)	2.37
CBH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MVF	0.51	0.02	0.07	0.09	0.62	(0.56)	1.12	(0.99)	3.98

Diamond Hill Corporate Management

Gary Young	MD Officer	Profile
Charles CFA	Managing Emeritus	Profile
Thomas CPA	CFO Treasurer	Profile
Matthew CFA	Chief Officer	Profile
CFA CFA	Chief Officer	Profile
SPHR PHR	Director HR	Profile
Lara CFA	Managing Marketing	Profile

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