Diamond Hill Correlations

DHMIX Fund

USD 25.52 0.20 0.79%

The current 90-days correlation between Diamond Hill Small and Lazard Global Listed is 0.37 (i.e., 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

Very weak diversification

The correlation between Diamond Hill Small Mid and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Diamond Hill Small Mid 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 Small Mid. 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

0.9	DHFAX	Diamond Hill Large	Pair Corr
0.89	DHFYX	Diamond Hill Large	Pair Corr
0.89	DHFIX	Diamond Hill Large	Pair Corr
0.8	DHLAX	Diamond Hill Large	Pair Corr
1.0	DHMAX	Diamond Hill Small	Pair Corr
0.8	DHLYX	Diamond Hill Large	Pair Corr
0.98	DHLTX	Diamond Hill All	Pair Corr
0.71	DHLSX	Diamond Hill Long	Pair Corr
0.8	DHLRX	Diamond Hill Large	Pair Corr
1.0	DHMYX	Diamond Hill Small	Pair Corr
0.97	DHPIX	Diamond Hill Mid	Pair Corr
1.0	DHPAX	Diamond Hill Mid	Pair Corr
1.0	DHPYX	Diamond Hill Mid	Pair Corr
0.99	DHSYX	Diamond Hill Small	Pair Corr
0.99	DHSIX	Diamond Hill Small	Pair Corr
0.96	DHSCX	Diamond Hill Small	Pair Corr
0.98	DHTYX	Diamond Hill All	Pair Corr
0.65	DHTAX	Diamond Hill Select	Pair Corr
0.72	DIAMX	Diamond Hill Long	Pair Corr
0.71	DIAYX	Diamond Hill Long	Pair Corr

Moving against Diamond Mutual Fund

0.57	DHEAX	Diamond Hill Short	Pair Corr
0.55	DHEIX	Diamond Hill Short	Pair Corr

Related Correlations Analysis

	GLIFX	TILCX	TIDDX	PGRSX	NPSRX
GLIFX		0.63	0.81	0.87	0.91	GLIFX
TILCX	0.63		0.8	0.77	0.45	TILCX
TIDDX	0.81	0.8		0.76	0.76	TIDDX
PGRSX	0.87	0.77	0.76		0.77	PGRSX
NPSRX	0.91	0.45	0.76	0.77		NPSRX
	GLIFX	TILCX	TIDDX	PGRSX	NPSRX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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
GLIFX	0.42	0.02	0.08	0.04	0.38	(0.57)	0.95	(0.74)	2.04
TILCX	0.65	(0.11)	0.00	(0.19)	0.00	0.00	1.17	(1.10)	6.51
TIDDX	0.59	(0.02)	0.00	(0.08)	0.00	0.00	1.03	(1.33)	3.06
PGRSX	0.67	(0.01)	0.00	(0.04)	0.00	0.00	1.33	(1.22)	4.36
NPSRX	0.12	0.01	0.22	0.45	0.00	(0.15)	0.32	(0.20)	0.98

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC