Diamond Hill Correlations

Mutual Funds . USA . 
Fund . Diamond Hill E
DHRYX Fund  USD 9.02  0.02  0.22%   
The current 90-days correlation between Diamond Hill E and Diamond Hill Large is 0.13 (i.e., Average 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

Average diversification

The correlation between Diamond Hill E and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Diamond Hill E 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 E. 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

  0.81DHEYX Diamond Hill ShortPairCorr
  0.81DHEIX Diamond Hill ShortPairCorr
  0.81DHEAX Diamond Hill ShortPairCorr
  0.61DHIAX Diamond Hill InternaPairCorr
  0.61DHIYX Diamond Hill InternaPairCorr
  0.61DHIIX Diamond Hill InternaPairCorr
  0.67DHMIX Diamond Hill SmallPairCorr
  0.64DHLTX Diamond Hill AllPairCorr
  0.63DHLSX Diamond Hill LongPairCorr
  0.92DHNIX Diamond Hill CorePairCorr
  0.67DHMYX Diamond Hill SmallPairCorr
  0.66DHPIX Diamond Hill MidPairCorr
  0.66DHPAX Diamond Hill MidPairCorr
  0.66DHPYX Diamond Hill MidPairCorr
  1.0DHRIX Diamond Hill EPairCorr
  1.0DHRAX Diamond Hill EPairCorr
  0.65DHSYX Diamond Hill SmallPairCorr
  0.65DHSIX Diamond Hill SmallPairCorr
  0.65DHSCX Diamond Hill SmallPairCorr
  0.64DHTYX Diamond Hill AllPairCorr
  0.64DHTAX Diamond Hill SelectPairCorr
  0.63DIAMX Diamond Hill LongPairCorr
  0.63DIAYX Diamond Hill LongPairCorr
  0.88VBTLX Vanguard Total BondPairCorr
  0.99VBMFX Vanguard Total BondPairCorr
  0.99VBTIX Vanguard Total BondPairCorr
  0.99VTBSX Vanguard Total BondPairCorr
  0.98VTBIX Vanguard Total BondPairCorr
  0.98VTBNX Vanguard Total BondPairCorr
  0.98FBOFX American FundsPairCorr
  0.98FFBOX American FundsPairCorr
  0.99BFAFX Bond FundPairCorr
  0.98ABNDX Bond FundPairCorr

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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