Longleaf Partners Correlations

LLSCX Fund

USD 29.03 0.15 0.52%

The current 90-days correlation between Longleaf Partners Small and Needham Aggressive Growth is -0.02 (i.e., Good diversification). The correlation of Longleaf Partners 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.

Longleaf Partners Correlation With Market

Poor diversification

The correlation between Longleaf Partners Small Cap and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Longleaf Partners Small Cap and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Longleaf Partners Small Cap. 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 Longleaf Mutual Fund

0.69	LLPFX	Longleaf Partners	Pair Corr
0.92	VSMAX	Vanguard Small Cap	Pair Corr
0.92	VSCIX	Vanguard Small Cap	Pair Corr
0.94	VSCPX	Vanguard Small Cap	Pair Corr
0.94	NAESX	Vanguard Small Cap	Pair Corr
0.9	FSSNX	Fidelity Small Cap	Pair Corr
0.91	DFSTX	Us Small Cap	Pair Corr
0.94	PASVX	T Rowe Price	Pair Corr
0.91	PRVIX	T Rowe Price	Pair Corr
0.94	TRZVX	T Rowe Price	Pair Corr
0.94	PRSVX	T Rowe Price	Pair Corr
0.84	XPPRX	Voya Prime Rate	Pair Corr
0.75	PCF	Putnam High Income	Pair Corr
0.92	MLUFX	Massmutual Select Mid	Pair Corr
0.68	PSDTX	Putnam Short Duration	Pair Corr
0.76	PFLLX	Putnam Floating Rate	Pair Corr
0.7	PGAIX	Pimco Global Multi	Pair Corr
0.83	DODGX	Dodge Stock Fund	Pair Corr
0.89	JEPIX	Jpmorgan Equity Premium	Pair Corr
0.71	NSBFX	Nuveen Santa Barbara	Pair Corr
0.64	MKCPX	Blackrock Balanced	Pair Corr
0.85	WWLAX	Westwood Largecap Value	Pair Corr
0.83	VFIAX	Vanguard 500 Index	Pair Corr
0.83	JUEQX	Jpmorgan Equity	Pair Corr
0.83	VFINX	Vanguard 500 Index	Pair Corr

Moving against Longleaf Mutual Fund

0.39	LLINX	Longleaf Partners	Pair Corr
0.31	NXJ	Nuveen New Jersey	Pair Corr

Related Correlations Analysis

	NEAIX	DIHRX	CYBAX	FHAIX	SGYAX	APDFX	FFCGX	AGTFX
NEAIX		-0.13	0.75	0.6	0.76	0.79	0.82	0.72	NEAIX
DIHRX	-0.13		-0.26	0.03	-0.47	-0.4	-0.09	-0.31	DIHRX
CYBAX	0.75	-0.26		0.66	0.82	0.86	0.61	0.53	CYBAX
FHAIX	0.6	0.03	0.66		0.5	0.6	0.6	0.52	FHAIX
SGYAX	0.76	-0.47	0.82	0.5		0.97	0.76	0.64	SGYAX
APDFX	0.79	-0.4	0.86	0.6	0.97		0.82	0.7	APDFX
FFCGX	0.82	-0.09	0.61	0.6	0.76	0.82		0.87	FFCGX
AGTFX	0.72	-0.31	0.53	0.52	0.64	0.7	0.87		AGTFX
	NEAIX	DIHRX	CYBAX	FHAIX	SGYAX	APDFX	FFCGX	AGTFX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

APDFX	+ 0.97	SGYAX
AGTFX	+ 0.87	FFCGX
APDFX	+ 0.86	CYBAX
FFCGX	+ 0.82	NEAIX
SGYAX	+ 0.82	CYBAX
FFCGX	+ 0.82	APDFX

High negative correlations

SGYAX	- 0.47	DIHRX
APDFX	- 0.4	DIHRX
AGTFX	- 0.31	DIHRX
CYBAX	- 0.26	DIHRX
DIHRX	- 0.13	NEAIX
FFCGX	- 0.09	DIHRX

Risk-Adjusted Indicators

There is a big difference between Longleaf Mutual Fund performing well and Longleaf Partners 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 Longleaf Partners' 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
NEAIX	1.02	0.14	0.06	0.50	0.89	(1.17)	2.19	(1.59)	6.71
DIHRX	0.61	(0.05)	(0.15)	(0.03)	0.78	(0.63)	1.33	(1.15)	4.35
CYBAX	0.09	0.00	(0.86)	0.32	0.00	(0.12)	0.20	(0.16)	0.68
FHAIX	0.10	0.00	0.00	0.29	0.00	0.00	0.57	(0.57)	1.14
SGYAX	0.13	0.03	(0.47)	(16.43)	0.00	(0.24)	0.29	(0.14)	0.99
APDFX	0.11	0.04	(0.53)	(4.25)	0.00	(0.18)	0.33	(0.11)	0.66
FFCGX	0.51	0.03	(0.02)	0.16	0.43	(0.59)	1.26	(1.03)	3.41
AGTFX	0.49	0.00	(0.07)	0.12	0.54	(0.59)	1.15	(0.87)	3.87

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