Diamond Hill Correlations

DHFAX Fund

USD 13.64 0.05 0.37%

The current 90-days correlation between Diamond Hill Large and Diamond Hill Short is 0.05 (i.e., Significant 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 poor diversification

The correlation between Diamond Hill Large and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Diamond Hill Large 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 Large. 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

0.87	DHEYX	Diamond Hill Short	Pair Corr
0.87	DHEIX	Diamond Hill Short	Pair Corr
0.88	DHEAX	Diamond Hill Short	Pair Corr
1.0	DHFYX	Diamond Hill Large	Pair Corr
1.0	DHFIX	Diamond Hill Large	Pair Corr
0.97	DHIAX	Diamond Hill Interna	Pair Corr
0.97	DHIYX	Diamond Hill Interna	Pair Corr
0.97	DHIIX	Diamond Hill Interna	Pair Corr
1.0	DHLAX	Diamond Hill Large	Pair Corr
0.96	DHMIX	Diamond Hill Small	Pair Corr
0.96	DHMAX	Diamond Hill Small	Pair Corr
1.0	DHLYX	Diamond Hill Large	Pair Corr
0.98	DHLTX	Diamond Hill All	Pair Corr
0.98	DHLSX	Diamond Hill Long	Pair Corr
1.0	DHLRX	Diamond Hill Large	Pair Corr
0.7	DHNIX	Diamond Hill Core	Pair Corr
0.96	DHMYX	Diamond Hill Small	Pair Corr
0.98	DHPIX	Diamond Hill Mid	Pair Corr
0.98	DHPAX	Diamond Hill Mid	Pair Corr
0.98	DHPYX	Diamond Hill Mid	Pair Corr
0.96	DHSYX	Diamond Hill Small	Pair Corr
0.96	DHSIX	Diamond Hill Small	Pair Corr
0.96	DHSCX	Diamond Hill Small	Pair Corr
0.98	DHTYX	Diamond Hill All	Pair Corr
0.98	DHTAX	Diamond Hill Select	Pair Corr
0.98	DIAMX	Diamond Hill Long	Pair Corr
0.98	DIAYX	Diamond Hill Long	Pair Corr
0.97	VVIAX	Vanguard Value Index	Pair Corr
0.99	DOXGX	Dodge Cox Stock	Pair Corr
0.97	AFMFX	American Mutual	Pair Corr
0.97	FFMMX	American Funds American	Pair Corr
0.97	FFFMX	American Funds American	Pair Corr
0.97	AMRMX	American Mutual	Pair Corr
0.97	AMFFX	American Mutual	Pair Corr
0.97	AMFCX	American Mutual	Pair Corr
0.99	DODGX	Dodge Stock Fund	Pair Corr

Moving against Diamond Mutual Fund

0.97	USPSX	Profunds Ultrashort	Pair Corr
0.97	USPIX	Profunds Ultrashort	Pair Corr
0.97	UIPIX	Ultrashort Mid Cap	Pair Corr
0.8	TCTGX	Transamerica Cleartrack	Pair Corr
0.8	TCTJX	Transamerica Cleartrack	Pair Corr
0.79	TDKTX	Cleartrack 2015 Class	Pair Corr
0.75	TCSUX	Cleartrack 2020 Class	Pair Corr

Related Correlations Analysis

	DHFAX	DHEYX	DHEIX	DHEAX	DHFYX	DHFIX	DHIAX	DHIYX	DHIIX	DHLAX
DHFAX		0.87	0.87	0.88	1.0	1.0	0.97	0.97	0.97	1.0	DHFAX
DHEYX	0.87		1.0	1.0	0.87	0.87	0.91	0.91	0.91	0.87	DHEYX
DHEIX	0.87	1.0		1.0	0.87	0.87	0.91	0.91	0.91	0.86	DHEIX
DHEAX	0.88	1.0	1.0		0.88	0.88	0.92	0.92	0.92	0.87	DHEAX
DHFYX	1.0	0.87	0.87	0.88		1.0	0.97	0.97	0.97	1.0	DHFYX
DHFIX	1.0	0.87	0.87	0.88	1.0		0.97	0.97	0.97	1.0	DHFIX
DHIAX	0.97	0.91	0.91	0.92	0.97	0.97		1.0	1.0	0.96	DHIAX
DHIYX	0.97	0.91	0.91	0.92	0.97	0.97	1.0		1.0	0.96	DHIYX
DHIIX	0.97	0.91	0.91	0.92	0.97	0.97	1.0	1.0		0.96	DHIIX
DHLAX	1.0	0.87	0.86	0.87	1.0	1.0	0.96	0.96	0.96		DHLAX
	DHFAX	DHEYX	DHEIX	DHEAX	DHFYX	DHFIX	DHIAX	DHIYX	DHIIX	DHLAX

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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
DHFAX	0.64	0.00	(0.03)	0.14	0.58	(0.71)	1.66	(1.11)	4.36
DHEYX	0.06	0.02	(0.99)	5.64	0.00	(0.10)	0.10	(0.10)	0.20
DHEIX	0.06	0.02	(1.01)	(1.39)	0.00	(0.11)	0.10	(0.10)	0.30
DHEAX	0.06	0.02	(0.85)	5.13	0.00	(0.10)	0.10	(0.10)	0.30
DHFYX	0.65	0.01	(0.03)	0.14	0.60	(0.76)	1.66	(1.11)	4.44
DHFIX	0.64	0.01	(0.03)	0.14	0.60	(0.73)	1.67	(1.11)	4.44
DHIAX	0.43	0.15	0.09	0.56	0.12	(0.51)	1.13	(1.08)	2.87
DHIYX	0.44	0.15	0.09	0.56	0.04	(0.51)	1.13	(1.04)	2.91
DHIIX	0.43	0.15	0.09	0.57	0.13	(0.51)	1.13	(1.09)	2.86
DHLAX	0.66	0.02	0.00	0.15	0.65	(0.72)	1.71	(1.34)	5.10

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