Diamond Hill Correlations

DHIYX Fund  USD 18.09  0.09  0.50%   
The current 90-days correlation between Diamond Hill Interna and Fisher Large Cap is -0.09 (i.e., Good 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

Weak diversification

The correlation between Diamond Hill International and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Diamond Hill International 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 International. 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 manufacturing.

Moving together with Diamond Mutual Fund

  1.0DHIAX Diamond Hill InternaPairCorr
  1.0DHIIX Diamond Hill InternaPairCorr
  0.62DHLSX Diamond Hill LongPairCorr
  0.63DIAMX Diamond Hill LongPairCorr
  0.61DIAYX Diamond Hill LongPairCorr
  0.96VGTSX Vanguard Total InterPairCorr
  0.96VTIAX Vanguard Total InterPairCorr
  0.96VTSNX Vanguard Total InterPairCorr
  0.96VTPSX Vanguard Total InterPairCorr
  0.96VTISX Vanguard Total InterPairCorr
  0.92VTMGX Vanguard DevelopedPairCorr
  0.97VDVIX Vanguard DevelopedPairCorr
  0.92VTMNX Vanguard DevelopedPairCorr
  0.97VDIPX Vanguard DevelopedPairCorr
  0.93FSPSX Fidelity InternationalPairCorr

Moving against Diamond Mutual Fund

  0.57DHLRX Diamond Hill LargePairCorr
  0.56DHLAX Diamond Hill LargePairCorr
  0.56DHLYX Diamond Hill LargePairCorr
  0.55DHEIX Diamond Hill ShortPairCorr
  0.55DHEAX Diamond Hill ShortPairCorr
  0.52DHFAX Diamond Hill LargePairCorr
  0.52DHFYX Diamond Hill LargePairCorr
  0.52DHFIX Diamond Hill LargePairCorr
  0.5DHEYX Diamond Hill ShortPairCorr
  0.5DHLTX Diamond Hill AllPairCorr
  0.49DHMIX Diamond Hill SmallPairCorr
  0.49DHMYX Diamond Hill SmallPairCorr
  0.48DHMAX Diamond Hill SmallPairCorr
  0.42DHPAX Diamond Hill MidPairCorr
  0.42DHPYX Diamond Hill MidPairCorr
  0.55DHSCX Diamond Hill SmallPairCorr
  0.54DHSYX Diamond Hill SmallPairCorr
  0.54DHSIX Diamond Hill SmallPairCorr
  0.5DHTYX Diamond Hill AllPairCorr
  0.48DHTAX Diamond Hill SelectPairCorr
  0.76KMKCX Kinetics Market OppoPairCorr
  0.76KMKAX Kinetics Market OppoPairCorr

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.