Diamond Hill Correlations

Mutual Funds . USA . 
Fund . Diamond Hill Mid
DHPAX Fund  USD 19.26  0.03  0.16%   
The current 90-days correlation between Diamond Hill Mid and Fidelity Low Priced Stock is 0.92 (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

Almost no diversification

The correlation between Diamond Hill Mid and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Diamond Hill 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 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 nation.

Moving together with Diamond Mutual Fund

  0.97DHFAX Diamond Hill LargePairCorr
  0.71DHEYX Diamond Hill ShortPairCorr
  0.71DHEIX Diamond Hill ShortPairCorr
  0.71DHEAX Diamond Hill ShortPairCorr
  0.96DHFYX Diamond Hill LargePairCorr
  0.96DHFIX Diamond Hill LargePairCorr
  0.97DHLAX Diamond Hill LargePairCorr
  0.99DHMIX Diamond Hill SmallPairCorr
  0.97DHLYX Diamond Hill LargePairCorr
  0.95DHLTX Diamond Hill AllPairCorr
  0.97DHLRX Diamond Hill LargePairCorr
  0.99DHMYX Diamond Hill SmallPairCorr
  1.0DHPIX Diamond Hill MidPairCorr
  1.0DHPYX 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
  0.89FLPKX Fidelity Low PricedPairCorr
  0.88FLPSX Fidelity Low PricedPairCorr
  0.95VMVAX Vanguard Mid CapPairCorr
  0.98JVMAX John Hancock DisciplinedPairCorr
  0.98JVMIX John Hancock DisciplinedPairCorr
  0.95VMVIX Vanguard Mid CapPairCorr
  0.96JMVZX Jpmorgan Mid CapPairCorr
  0.96JMVRX Jpmorgan Mid CapPairCorr
  0.96JMVQX Jpmorgan Mid CapPairCorr
  0.96JMVYX Jpmorgan Mid CapPairCorr

Moving against Diamond Mutual Fund

  0.52DHRYX Diamond Hill EPairCorr
  0.38DHIAX Diamond Hill InternaPairCorr
  0.52DHRAX Diamond Hill EPairCorr
  0.51DHRIX Diamond Hill EPairCorr
  0.98UIPIX Ultrashort Mid CapPairCorr
  0.84USPSX Profunds UltrashortPairCorr
  0.84USPIX Profunds UltrashortPairCorr

Related Correlations Analysis

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FLPKX  0.61 (0.08)(0.12) 0.04  0.70 
(0.63)
 1.30 
(1.15)
 3.99 
FLPSX  0.61 (0.08)(0.12) 0.04  0.71 
(0.63)
 1.30 
(1.15)
 3.99 
VMVAX  0.53  0.03 (0.01) 0.16  0.34 
(0.59)
 1.08 
(0.88)
 3.06 
JVMAX  0.62 (0.02)(0.03) 0.11  0.54 
(0.72)
 1.31 
(1.01)
 4.94 
JVMIX  0.62 (0.02)(0.02) 0.11  0.54 
(0.72)
 1.30 
(1.00)
 5.00 
VMVIX  0.53  0.03 (0.01) 0.16  0.33 
(0.59)
 1.08 
(0.89)
 3.07 
JMVZX  0.58  0.02  0.00  0.14  0.42 
(0.68)
 1.19 
(1.00)
 4.47 
JMVRX  0.58  0.02  0.01  0.15  0.43 
(0.65)
 1.18 
(0.99)
 4.47 
JMVQX  0.58  0.02  0.01  0.15  0.41 
(0.68)
 1.19 
(0.99)
 4.47 
JMVYX  0.58  0.02  0.01  0.15  0.41 
(0.69)
 1.18 
(0.99)
 4.46 

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