11/16" is an odd thickness, is this plywood? If so I think you will find that it actually measures 23/32". Various companies make what they call plywood bits which corespond to the actual sizes of plywood: 23/32", 15/32", and 7/32". If you use a different size bit you will have a loose fit and that is bad news. You can always use a smaller bit, make a pass and reposition your guide or fence to complete the size cut you need.
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