Diamond Hill Correlations

Mutual Funds . USA . 
Fund . Diamond Hill Small
DHSYX Fund  USD 25.70  0.42  1.66%   
The current 90-days correlation between Diamond Hill Small and Asg Global Alternatives is -0.1 (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

Very poor diversification

The correlation between Diamond Hill Small and DJI is 0.82 (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 various price indices.

Moving together with Diamond Mutual Fund

  0.68DHEYX Diamond Hill ShortPairCorr
  0.68DHEAX Diamond Hill ShortPairCorr
  0.8DHMIX Diamond Hill SmallPairCorr
  0.75DHLSX Diamond Hill LongPairCorr
  0.61DHLRX Diamond Hill LargePairCorr
  0.64DHNIX Diamond Hill CorePairCorr
  0.94DHMYX Diamond Hill SmallPairCorr
  0.63DHNYX Diamond Hill CorePairCorr
  0.8DHPIX Diamond Hill MidPairCorr
  0.93DHPAX Diamond Hill MidPairCorr
  0.93DHPYX Diamond Hill MidPairCorr
  0.61DHRIX Diamond Hill EPairCorr
  0.63DHRAX Diamond Hill EPairCorr
  0.92DHSIX Diamond Hill SmallPairCorr
  1.0DHSCX Diamond Hill SmallPairCorr
  0.87DHTYX Diamond Hill AllPairCorr
  0.75DHTAX Diamond Hill SelectPairCorr
  0.66DIAMX Diamond Hill LongPairCorr
  0.68DIAYX Diamond Hill LongPairCorr
  0.95VSIIX Vanguard Small CapPairCorr
  0.95VISVX Vanguard Small CapPairCorr
  0.97DFSVX Us Small CapPairCorr
  0.97DFFVX Us Targeted ValuePairCorr
  0.92UBVCX Undiscovered ManagersPairCorr
  0.79UBVAX Undiscovered ManagersPairCorr
  0.77UBVSX Undiscovered ManagersPairCorr
  0.99AVFIX American Beacon SmallPairCorr

Related Correlations Analysis


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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