Longleaf Partners Correlations

Mutual Funds . USA . 
Fund . Longleaf Partners Fund
LLPFX Fund  USD 25.75  0.12  0.47%   
The current 90-days correlation between Longleaf Partners and Dunham Large Cap is 0.78 (i.e., Poor diversification). The correlation of Longleaf Partners 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.

Longleaf Partners Correlation With Market

Poor diversification

The correlation between Longleaf Partners Fund and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Longleaf Partners Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Longleaf Partners Fund. 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 census.

Moving together with Longleaf Mutual Fund

  0.83LLGLX Longleaf Partners GlobalPairCorr
  0.79LLSCX Longleaf Partners SmallPairCorr
  0.7FLPKX Fidelity Low PricedPairCorr
  0.7FLPSX Fidelity Low PricedPairCorr
  0.92VMVAX Vanguard Mid CapPairCorr
  0.9JVMAX John Hancock DisciplinedPairCorr
  0.9JVMIX John Hancock DisciplinedPairCorr
  0.92VMVIX Vanguard Mid CapPairCorr
  0.89JMVZX Jpmorgan Mid CapPairCorr
  0.89JMVRX Jpmorgan Mid CapPairCorr
  0.89JMVQX Jpmorgan Mid CapPairCorr
  0.89JMVYX Jpmorgan Mid CapPairCorr
  0.89EVFMX Evaluator Moderate RmsPairCorr
  0.87TSGHX Tiaa Cref LifestylePairCorr
  0.89BDJ Blackrock Enhanced EquityPairCorr
  0.84WWLAX Westwood Largecap ValuePairCorr
  0.93HACAX Harbor Capital ApprePairCorr
  0.93DXQLX Direxion Monthly NasdaqPairCorr
  0.84VTTHX Vanguard Target RetiPairCorr
  0.94FPURX Fidelity PuritanPairCorr
  0.93CII Blackrock EnhancedPairCorr
  0.73VTTVX Vanguard Target RetiPairCorr
  0.88VSMAX Vanguard Small CapPairCorr
  0.68GAB Gabelli Equity TrustPairCorr
  0.95VFIAX Vanguard 500 IndexPairCorr
  0.92AIO Virtus Allianzgi ArtPairCorr
  0.79VBFIX Victory StrategicPairCorr

Moving against Longleaf Mutual Fund

  0.72GPBFX Gmo E PlusPairCorr
  0.58GPMFX Guidepath Managed FuturesPairCorr
  0.51PQTAX Pimco Trends ManagedPairCorr
  0.5PQTNX Pimco Trends ManagedPairCorr
  0.47GAAGX Gmo Alternative AlloPairCorr
  0.46GAAKX Gmo Alternative AlloPairCorr
  0.5PQTIX Aa Pimco TrPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Longleaf Mutual Fund performing well and Longleaf Partners 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 Longleaf Partners' 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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