Diamond Hill Correlations

Mutual Funds . USA . 
Fund . Diamond Hill Small
DHSCX Fund  USD 23.80  0.23  0.96%   
The current 90-days correlation between Diamond Hill Small and Diamond Hill Short 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

Very poor diversification

The correlation between Diamond Hill Small 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 Small 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 Small. 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 main economic indicators.

Moving together with Diamond Mutual Fund

  0.98DHFAX Diamond Hill LargePairCorr
  0.93DHEYX Diamond Hill ShortPairCorr
  0.92DHEIX Diamond Hill ShortPairCorr
  0.93DHEAX Diamond Hill ShortPairCorr
  0.98DHFYX Diamond Hill LargePairCorr
  0.98DHFIX Diamond Hill LargePairCorr
  0.94DHIAX Diamond Hill InternaPairCorr
  0.94DHIYX Diamond Hill InternaPairCorr
  0.94DHIIX Diamond Hill InternaPairCorr
  0.95DHLAX Diamond Hill LargePairCorr
  0.99DHMIX Diamond Hill SmallPairCorr
  0.99DHMAX Diamond Hill SmallPairCorr
  0.98DHLYX Diamond Hill LargePairCorr
  0.99DHLTX Diamond Hill AllPairCorr
  0.99DHLSX Diamond Hill LongPairCorr
  0.95DHLRX Diamond Hill LargePairCorr
  0.69DHNIX Diamond Hill CorePairCorr
  0.99DHMYX Diamond Hill SmallPairCorr
  0.99DHPIX Diamond Hill MidPairCorr
  0.99DHPAX Diamond Hill MidPairCorr
  0.99DHPYX Diamond Hill MidPairCorr
  0.64DHRYX Diamond Hill EPairCorr
  0.63DHRIX Diamond Hill EPairCorr
  0.62DHRAX Diamond Hill EPairCorr
  1.0DHSYX Diamond Hill SmallPairCorr
  1.0DHSIX Diamond Hill SmallPairCorr
  0.99DHTYX Diamond Hill AllPairCorr
  0.99DHTAX Diamond Hill SelectPairCorr
  0.99DIAMX Diamond Hill LongPairCorr
  0.99DIAYX Diamond Hill LongPairCorr
  0.97VSIIX Vanguard Small CapPairCorr
  0.97VISVX Vanguard Small CapPairCorr
  0.98DFSVX Us Small CapPairCorr
  0.98DFFVX Us Targeted ValuePairCorr
  0.96UBVCX Undiscovered ManagersPairCorr
  0.93UBVAX Undiscovered ManagersPairCorr
  0.93UBVSX Undiscovered ManagersPairCorr
  0.98AVFIX American Beacon SmallPairCorr
  0.78NHS Neuberger Berman HighPairCorr

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
DHEYX  0.06  0.01 (1.55) 2.71  0.00 
(0.10)
 0.10 
(0.10)
 0.20 
DHEAX  0.06  0.01 (1.47) 2.30  0.00 
(0.10)
 0.10 
(0.10)
 0.30 
DHFIX  0.83 (0.02)(0.05) 0.21  0.77 
(0.97)
 1.78 
(1.43)
 10.05 
DHIAX  0.60  0.32  0.05 (1.84) 0.38 
(0.68)
 1.55 
(1.17)
 6.73 
DHIYX  0.60  0.32  0.05 (1.88) 0.39 
(0.69)
 1.60 
(1.17)
 6.82 
DHIIX  0.60  0.32  0.05 (1.93) 0.39 
(0.70)
 1.54 
(1.17)
 6.71 
DHLAX  0.87  0.29 (0.03)(0.54) 0.93 
(0.96)
 1.86 
(1.78)
 11.03 
DHMIX  1.01  0.02  0.03  0.26  1.03 
(1.15)
 2.19 
(2.08)
 12.75 
DHMAX  1.02  0.02  0.03  0.26  1.03 
(1.15)
 2.21 
(2.10)
 12.79 
DHLYX  0.86 (0.01)(0.03) 0.22  0.92 
(0.96)
 1.85 
(1.77)
 11.08 

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