Diamond Hill Correlations

DHSIX Fund

USD 21.41 0.24 1.11%

The current 90-days correlation between Diamond Hill Small and Vanguard Reit Index is 0.68 (i.e., Poor 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

Poor diversification

The correlation between Diamond Hill Small and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Diamond Hill Small 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. 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

0.95	DHMIX	Diamond Hill Small	Pair Corr
0.93	DHLTX	Diamond Hill All	Pair Corr
0.83	DHPIX	Diamond Hill Mid	Pair Corr
0.83	DHPAX	Diamond Hill Mid	Pair Corr
0.82	DHPYX	Diamond Hill Mid	Pair Corr
1.0	DHSCX	Diamond Hill Small	Pair Corr
0.94	DHTAX	Diamond Hill Select	Pair Corr
0.97	VSIIX	Vanguard Small Cap	Pair Corr
0.97	VISVX	Vanguard Small Cap	Pair Corr
0.99	DFSVX	Us Small Cap	Pair Corr
0.98	DFFVX	Us Targeted Value	Pair Corr
0.95	UBVCX	Undiscovered Managers	Pair Corr
0.95	UBVAX	Undiscovered Managers	Pair Corr
0.94	UBVSX	Undiscovered Managers	Pair Corr
0.9	AVFIX	American Beacon Small	Pair Corr

Moving against Diamond Mutual Fund

0.72	DHEAX	Diamond Hill Short	Pair Corr
0.71	DHEYX	Diamond Hill Short	Pair Corr
0.7	DHEIX	Diamond Hill Short	Pair Corr
0.42	DHIYX	Diamond Hill Interna	Pair Corr
0.41	DHIAX	Diamond Hill Interna	Pair Corr
0.41	DHIIX	Diamond Hill Interna	Pair Corr
0.94	USPSX	Profunds Ultrashort	Pair Corr
0.72	DHRAX	Diamond Hill E	Pair Corr
0.71	DHRYX	Diamond Hill E	Pair Corr
0.71	DHRIX	Diamond Hill E	Pair Corr
0.98	UIPIX	Ultrashort Mid Cap	Pair Corr
0.94	USPIX	Profunds Ultrashort	Pair Corr
0.81	GF	New Germany Closed	Pair Corr
0.76	VSGDX	Vanguard Short Term	Pair Corr
0.72	PSDNX	Putnam Ultra Short	Pair Corr
0.62	MEERX	Massmutual Premier	Pair Corr

Related Correlations Analysis

	VGSIX	DFREX	FIKMX	IARIX	CREFX	NRSCX	NMMRF
VGSIX		0.99	0.83	0.99	0.99	0.28	0.35	VGSIX
DFREX	0.99		0.84	1.0	0.99	0.34	0.39	DFREX
FIKMX	0.83	0.84		0.82	0.88	0.6	0.73	FIKMX
IARIX	0.99	1.0	0.82		0.98	0.33	0.38	IARIX
CREFX	0.99	0.99	0.88	0.98		0.4	0.45	CREFX
NRSCX	0.28	0.34	0.6	0.33	0.4		0.83	NRSCX
NMMRF	0.35	0.39	0.73	0.38	0.45	0.83		NMMRF
	VGSIX	DFREX	FIKMX	IARIX	CREFX	NRSCX	NMMRF

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
VGSIX	0.92	0.00	0.00	(0.07)	0.00	0.00	1.73	(1.97)	4.57
DFREX	0.90	(0.01)	0.00	(0.08)	0.00	0.00	1.65	(1.87)	4.48
FIKMX	0.26	0.03	0.20	0.08	0.30	(0.30)	0.59	(0.49)	1.36
IARIX	0.90	(0.01)	0.00	(0.08)	0.00	0.00	1.59	(1.78)	4.67
CREFX	0.91	0.01	0.00	(0.05)	0.00	0.00	1.59	(1.75)	4.82
NRSCX	0.18	0.00	0.24	0.08	0.22	(0.18)	0.31	(0.37)	1.00
NMMRF	0.07	0.02	0.00	(1.43)	0.00	0.00	0.00	0.00	2.35

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