Diamond Hill Correlations

DIAMX Fund

USD 29.44 0.02 0.07%

The current 90-days correlation between Diamond Hill Long and Lincoln Inflation Plus is -0.22 (i.e., Very 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 good diversification

The correlation between Diamond Hill Long Short and DJI is -0.3 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Diamond Hill Long Short 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 Long Short. 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 industry.

Moving together with Diamond Mutual Fund

0.92	DHEYX	Diamond Hill Short	Pair Corr
0.92	DHEIX	Diamond Hill Short	Pair Corr
0.93	DHEAX	Diamond Hill Short	Pair Corr
0.92	DHIAX	Diamond Hill Interna	Pair Corr
0.92	DHIYX	Diamond Hill Interna	Pair Corr
0.92	DHIIX	Diamond Hill Interna	Pair Corr
0.64	DHMIX	Diamond Hill Small	Pair Corr
0.64	DHMAX	Diamond Hill Small	Pair Corr
1.0	DHLSX	Diamond Hill Long	Pair Corr
0.73	DHNIX	Diamond Hill Core	Pair Corr
0.91	DHNYX	Diamond Hill Core	Pair Corr
0.66	DHPYX	Diamond Hill Mid	Pair Corr
0.88	DHRYX	Diamond Hill E	Pair Corr
0.87	DHRIX	Diamond Hill E	Pair Corr
0.87	DHRAX	Diamond Hill E	Pair Corr
0.68	DHSYX	Diamond Hill Small	Pair Corr
0.75	DHSIX	Diamond Hill Small	Pair Corr
0.74	DHSCX	Diamond Hill Small	Pair Corr
1.0	DIAYX	Diamond Hill Long	Pair Corr
0.79	NLSCX	Neuberger Berman Long	Pair Corr
0.81	NLSAX	Neuberger Berman Long	Pair Corr
0.83	NLSIX	Neuberger Berman Long	Pair Corr
0.8	QLERX	Aqr Long Short	Pair Corr
0.95	ASLAX	Ab Select Longshort	Pair Corr
0.94	PMPIX	Precious Metals Ultr Steady Growth	Pair Corr

Related Correlations Analysis

	LFTAX	PFRMX	TILUX	MXIHX	HIPAX	LIPNX	IPBAX	NWXNX
LFTAX		0.74	0.8	0.74	0.55	0.84	0.97	0.81	LFTAX
PFRMX	0.74		0.79	0.77	0.94	0.79	0.78	0.77	PFRMX
TILUX	0.8	0.79		0.98	0.76	0.99	0.88	0.99	TILUX
MXIHX	0.74	0.77	0.98		0.78	0.97	0.83	0.98	MXIHX
HIPAX	0.55	0.94	0.76	0.78		0.74	0.64	0.74	HIPAX
LIPNX	0.84	0.79	0.99	0.97	0.74		0.9	0.99	LIPNX
IPBAX	0.97	0.78	0.88	0.83	0.64	0.9		0.88	IPBAX
NWXNX	0.81	0.77	0.99	0.98	0.74	0.99	0.88		NWXNX
	LFTAX	PFRMX	TILUX	MXIHX	HIPAX	LIPNX	IPBAX	NWXNX

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
LFTAX	0.31	0.08	0.06	0.46	0.13	(0.39)	0.57	(0.56)	1.86
PFRMX	0.25	0.09	0.09	0.67	0.00	(0.30)	0.58	(0.44)	1.45
TILUX	0.19	0.03	(0.15)	2.81	0.00	(0.25)	0.48	(0.24)	0.96
MXIHX	0.13	0.02	(0.27)	0.56	0.00	(0.18)	0.32	(0.21)	0.75
HIPAX	0.13	0.03	(0.22)	0.65	0.00	(0.20)	0.30	(0.20)	0.79
LIPNX	0.17	0.03	(0.19)	5.22	0.00	(0.23)	0.31	(0.21)	0.84
IPBAX	0.32	0.04	0.01	0.15	0.20	(0.38)	0.64	(0.48)	2.07
NWXNX	0.15	0.03	(0.21)	5.33	0.00	(0.20)	0.33	(0.22)	0.89

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Diamond Hill Correlations

Diamond Hill Correlation With Market

Very good diversification

Moving together with Diamond Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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