Diamond Hill Correlations

Mutual Funds . USA . 
Fund . Diamond Hill Large
DHLRX Fund  USD 33.42  0.16  0.48%   
The current 90-days correlation between Diamond Hill Large and John Hancock Global is 0.55 (i.e., Very weak 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 Large 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 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 metropolitan statistical area.

Moving together with Diamond Mutual Fund

  0.97DHFAX Diamond Hill LargePairCorr
  0.97DHFYX Diamond Hill LargePairCorr
  0.97DHFIX Diamond Hill LargePairCorr
  0.97DHLAX Diamond Hill LargePairCorr
  0.98DHMIX Diamond Hill SmallPairCorr
  0.98DHMAX Diamond Hill SmallPairCorr
  1.0DHLYX Diamond Hill LargePairCorr
  0.97DHLTX Diamond Hill AllPairCorr
  0.9DHLSX Diamond Hill LongPairCorr
  0.98DHMYX Diamond Hill SmallPairCorr
  0.99DHPIX Diamond Hill MidPairCorr
  0.99DHPAX Diamond Hill MidPairCorr
  0.99DHPYX Diamond Hill MidPairCorr
  0.96DHSYX Diamond Hill SmallPairCorr
  0.96DHSIX Diamond Hill SmallPairCorr
  0.96DHSCX Diamond Hill SmallPairCorr
  0.97DHTYX Diamond Hill AllPairCorr
  0.97DHTAX Diamond Hill SelectPairCorr
  0.92DIAMX Diamond Hill LongPairCorr
  0.9DIAYX Diamond Hill LongPairCorr
  0.7VVIAX Vanguard Value IndexPairCorr
  0.86AFMFX American MutualPairCorr
  0.86FFMMX American Funds AmericanPairCorr
  0.86FFFMX American Funds AmericanPairCorr
  0.86AMRMX American MutualPairCorr
  0.86AMFFX American MutualPairCorr
  0.87AMFCX American MutualPairCorr
  0.87DODGX Dodge Stock FundPairCorr
  0.7VIVAX Vanguard Value IndexPairCorr

Moving against Diamond Mutual Fund

  0.54DHEAX Diamond Hill ShortPairCorr
  0.51DHEYX Diamond Hill ShortPairCorr
  0.5DHEIX Diamond Hill ShortPairCorr

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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