Diamond Hill Correlations

Mutual Funds . USA . 
Fund . Diamond Hill Large
DHFYX Fund  USD 13.69  0.04  0.29%   
The current 90-days correlation between Diamond Hill Large and Franklin Emerging Market is 0.39 (i.e., Weak 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 manufacturing.

Moving together with Diamond Mutual Fund

  1.0DHFAX Diamond Hill LargePairCorr
  0.87DHEYX Diamond Hill ShortPairCorr
  0.87DHEIX Diamond Hill ShortPairCorr
  0.88DHEAX Diamond Hill ShortPairCorr
  1.0DHFIX Diamond Hill LargePairCorr
  0.95DHIAX Diamond Hill InternaPairCorr
  0.95DHIYX Diamond Hill InternaPairCorr
  0.95DHIIX Diamond Hill InternaPairCorr
  0.96DHLAX Diamond Hill LargePairCorr
  0.96DHMIX Diamond Hill SmallPairCorr
  0.96DHMAX Diamond Hill SmallPairCorr
  0.77DHLYX Diamond Hill LargePairCorr
  0.67DHLTX Diamond Hill AllPairCorr
  0.69DHLSX Diamond Hill LongPairCorr
  0.77DHLRX Diamond Hill LargePairCorr
  0.71DHNIX Diamond Hill CorePairCorr
  0.98DHPIX Diamond Hill MidPairCorr
  0.98DHPAX Diamond Hill MidPairCorr
  0.98DHPYX Diamond Hill MidPairCorr
  0.97DHSYX Diamond Hill SmallPairCorr
  0.97DHSIX Diamond Hill SmallPairCorr
  0.97DHSCX Diamond Hill SmallPairCorr
  0.98DHTYX Diamond Hill AllPairCorr
  0.98DHTAX Diamond Hill SelectPairCorr
  0.75DIAMX Diamond Hill LongPairCorr
  0.98DIAYX Diamond Hill LongPairCorr
  0.65VVIAX Vanguard Value IndexPairCorr
  0.69DOXGX Dodge Cox StockPairCorr
  0.7AFMFX American MutualPairCorr
  0.7FFMMX American Funds AmericanPairCorr
  0.7FFFMX American Funds AmericanPairCorr
  0.64AMRMX American MutualPairCorr
  0.63AMFFX American MutualPairCorr
  0.63AMFCX American MutualPairCorr
  0.69DODGX Dodge Stock FundPairCorr
  0.65VIVAX Vanguard Value IndexPairCorr

Moving against Diamond Mutual Fund

  0.66USPSX Profunds UltrashortPairCorr
  0.66USPIX Profunds UltrashortPairCorr
  0.66UIPIX Ultrashort Mid CapPairCorr

Related Correlations Analysis

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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.

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