Diamond Hill Correlations

Mutual Funds . USA . 
Fund . Diamond Hill Mid
DHPAX Fund  USD 17.70  0.01  0.06%   
The current 90-days correlation between Diamond Hill Mid and Diamond Hill Large is 0.93 (i.e., Almost no 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 Mid and DJI is 0.88 (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 Mid 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 Mid. 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

  0.98DHFAX Diamond Hill LargePairCorr
  0.92DHEYX Diamond Hill ShortPairCorr
  0.91DHEIX Diamond Hill ShortPairCorr
  0.92DHEAX Diamond Hill ShortPairCorr
  0.98DHFYX Diamond Hill LargePairCorr
  0.98DHFIX Diamond Hill LargePairCorr
  0.96DHIAX Diamond Hill InternaPairCorr
  0.96DHIYX Diamond Hill InternaPairCorr
  0.96DHIIX Diamond Hill InternaPairCorr
  0.99DHLAX Diamond Hill LargePairCorr
  0.99DHMIX Diamond Hill SmallPairCorr
  0.99DHMAX Diamond Hill SmallPairCorr
  0.99DHLYX Diamond Hill LargePairCorr
  1.0DHLTX Diamond Hill AllPairCorr
  0.99DHLSX Diamond Hill LongPairCorr
  0.99DHLRX Diamond Hill LargePairCorr
  0.76DHNIX Diamond Hill CorePairCorr
  0.99DHMYX Diamond Hill SmallPairCorr
  1.0DHPIX Diamond Hill MidPairCorr
  1.0DHPYX Diamond Hill MidPairCorr
  0.66DHRYX Diamond Hill EPairCorr
  0.65DHRIX Diamond Hill EPairCorr
  0.63DHRAX Diamond Hill EPairCorr
  0.99DHSYX Diamond Hill SmallPairCorr
  0.99DHSIX Diamond Hill SmallPairCorr
  0.99DHSCX Diamond Hill SmallPairCorr
  1.0DHTYX Diamond Hill AllPairCorr
  1.0DHTAX Diamond Hill SelectPairCorr
  0.99DIAMX Diamond Hill LongPairCorr
  0.99DIAYX Diamond Hill LongPairCorr
  0.99VMVAX Vanguard Mid CapPairCorr
  0.99JVMAX John Hancock DisciplinedPairCorr
  0.99JVMIX John Hancock DisciplinedPairCorr
  0.99VMVIX Vanguard Mid CapPairCorr
  0.98JMVZX Jpmorgan Mid CapPairCorr
  0.98JMVRX Jpmorgan Mid CapPairCorr
  0.98JMVQX Jpmorgan Mid CapPairCorr
  0.98JMVYX Jpmorgan Mid CapPairCorr
  0.98JMVPX Jpmorgan Mid CapPairCorr

Moving against Diamond Mutual Fund

  0.98UIPIX Ultrashort Mid CapPairCorr
  0.97USPSX Profunds UltrashortPairCorr
  0.97USPIX Profunds UltrashortPairCorr
  0.78TCTGX Transamerica CleartrackPairCorr
  0.78TCTJX Transamerica CleartrackPairCorr
  0.77TDKTX Cleartrack 2015 ClassPairCorr
  0.74TCSUX Cleartrack 2020 ClassPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum 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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