Diamond Hill Correlations

DHPYX Fund

USD 18.27 0.18 1.00%

The current 90-days correlation between Diamond Hill Mid and Ab Select Equity is -0.08 (i.e., 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 Mid and DJI is -0.07 (i.e., Good 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 private.

Moving together with Diamond Mutual Fund

0.78	DHMIX	Diamond Hill Small Potential Growth	Pair Corr
0.78	DHMAX	Diamond Hill Small Potential Growth	Pair Corr
0.61	DHLYX	Diamond Hill Large	Pair Corr
0.74	DHLTX	Diamond Hill All	Pair Corr
0.78	DHMYX	Diamond Hill Small Potential Growth	Pair Corr
0.8	DHPIX	Diamond Hill Mid	Pair Corr
0.79	DHPAX	Diamond Hill Mid	Pair Corr
0.71	DHSYX	Diamond Hill Small	Pair Corr
0.86	DHSIX	Diamond Hill Small	Pair Corr
0.86	DHSCX	Diamond Hill Small	Pair Corr
0.74	DHTYX	Diamond Hill All	Pair Corr
0.92	DHTAX	Diamond Hill Select	Pair Corr
0.67	VMVAX	Vanguard Mid Cap	Pair Corr
0.89	JVMAX	John Hancock Disciplined	Pair Corr
0.74	JVMIX	John Hancock Disciplined	Pair Corr
0.65	JMVZX	Jpmorgan Mid Cap	Pair Corr
0.65	JMVRX	Jpmorgan Mid Cap	Pair Corr
0.65	JMVQX	Jpmorgan Mid Cap	Pair Corr
0.65	JMVYX	Jpmorgan Mid Cap	Pair Corr

Moving against Diamond Mutual Fund

0.47	DHFAX	Diamond Hill Large	Pair Corr
0.46	DHFIX	Diamond Hill Large	Pair Corr

Related Correlations Analysis

	AUUYX	PWGAX	RTIUX	TOIIX	PASTX	SNPTX
AUUYX		0.88	0.93	0.95	0.94	0.99	AUUYX
PWGAX	0.88		0.96	0.9	0.8	0.88	PWGAX
RTIUX	0.93	0.96		0.96	0.88	0.94	RTIUX
TOIIX	0.95	0.9	0.96		0.9	0.95	TOIIX
PASTX	0.94	0.8	0.88	0.9		0.97	PASTX
SNPTX	0.99	0.88	0.94	0.95	0.97		SNPTX
	AUUYX	PWGAX	RTIUX	TOIIX	PASTX	SNPTX

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
AUUYX	0.45	0.00	(0.02)	0.11	0.54	(0.49)	1.11	(0.69)	3.75
PWGAX	0.47	0.09	(0.02)	(1.49)	0.57	(0.49)	1.03	(0.92)	3.67
RTIUX	0.51	0.11	0.00	(1.88)	0.53	(0.56)	0.99	(0.77)	3.71
TOIIX	0.48	0.08	0.07	0.24	0.37	(0.58)	1.21	(0.85)	3.49
PASTX	0.97	0.13	0.12	0.22	0.99	(1.12)	2.07	(1.71)	6.78
SNPTX	0.47	0.03	0.02	0.13	0.51	(0.53)	1.16	(0.61)	3.90

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