Diamond Hill Correlations

DHSYX Fund

USD 21.49 0.24 1.10%

The current 90-days correlation between Diamond Hill Small and Barings Active Short is -0.28 (i.e., Very 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

Good diversification

The correlation between Diamond Hill Small and DJI is -0.05 (i.e., Good 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 manufacturing.

Moving together with Diamond Mutual Fund

0.75	VSIIX	Vanguard Small Cap	Pair Corr
0.75	VISVX	Vanguard Small Cap	Pair Corr
0.76	DFSVX	Us Small Cap	Pair Corr
0.76	DFFVX	Us Targeted Value	Pair Corr
0.75	UBVCX	Undiscovered Managers	Pair Corr
0.75	UBVAX	Undiscovered Managers	Pair Corr
0.75	UBVSX	Undiscovered Managers	Pair Corr
0.64	HPQ	HP Inc	Pair Corr
0.67	JPM	JPMorgan Chase	Pair Corr
0.61	CAT	Caterpillar	Pair Corr
0.65	BA	Boeing	Pair Corr
0.84	AXP	American Express	Pair Corr
0.8	BAC	Bank of America	Pair Corr

Moving against Diamond Mutual Fund

0.47	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.68	VZ	Verizon Communications	Pair Corr
0.56	PG	Procter Gamble	Pair Corr
0.53	JNJ	Johnson Johnson	Pair Corr

Related Correlations Analysis

	BXDCX	FUEMX	TAAQX	PSTQX	CMGUX	FMUUX	GANPX
BXDCX		0.95	1.0	0.99	0.96	0.97	0.94	BXDCX
FUEMX	0.95		0.95	0.95	0.99	0.99	0.97	FUEMX
TAAQX	1.0	0.95		0.99	0.96	0.97	0.94	TAAQX
PSTQX	0.99	0.95	0.99		0.94	0.97	0.97	PSTQX
CMGUX	0.96	0.99	0.96	0.94		0.98	0.94	CMGUX
FMUUX	0.97	0.99	0.97	0.97	0.98		0.98	FMUUX
GANPX	0.94	0.97	0.94	0.97	0.94	0.98		GANPX
	BXDCX	FUEMX	TAAQX	PSTQX	CMGUX	FMUUX	GANPX

Click cells to compare fundamentals

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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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
BXDCX	0.08	0.01	0.65	1.03	(0.15)	0.22	(0.11)	0.54
FUEMX	0.04	0.00	0.00	(1.27)	0.00	0.10	(0.10)	0.40
TAAQX	0.09	0.02	0.66	1.93	(0.15)	0.21	(0.10)	0.62
PSTQX	0.11	0.02	0.54	0.62	(0.15)	0.29	(0.19)	0.67
CMGUX	0.04	0.00	0.00	0.00	0.00	0.11	0.00	0.54
FMUUX	0.03	0.00	0.00	(0.26)	0.00	0.10	0.00	0.40
GANPX	0.06	0.00	0.42	0.03	(0.12)	0.10	(0.10)	0.48

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