Doubleline Flexible Correlations

Mutual Funds . USA . 
Fund . Doubleline Flexible Income
DFFLX Fund  USD 8.78  0.04  0.45%   
The current 90-days correlation between Doubleline Flexible and Doubleline Strategic Modity is 0.02 (i.e., Significant diversification). The correlation of Doubleline Flexible 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.

Doubleline Flexible Correlation With Market

Average diversification

The correlation between Doubleline Flexible Income and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Doubleline Flexible Income 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 Doubleline Flexible Income. 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 board of governors.

Moving together with Doubleline Mutual Fund

  0.67DLCMX Doubleline StrategicPairCorr
  0.99DLENX Doubleline EmergingPairCorr
  0.94DLELX Doubleline EmergingPairCorr
  0.94DLFRX Doubleline Floating RatePairCorr
  0.93DLFNX Doubleline E FixedPairCorr
  0.76DLGBX Doubleline Global BondPairCorr
  0.98DLINX Doubleline FlexiblePairCorr
  0.69DLLDX Doubleline Long DurationPairCorr
  0.97DLSNX Doubleline Low DurationPairCorr
  0.92DLTNX Doubleline Total ReturnPairCorr
  0.96BILTX Doubleline InfrastructurePairCorr
  0.76BILDX Doubleline InfrastructurePairCorr
  0.86DSENX Doubleline ShillerPairCorr
  0.64DSEEX Doubleline ShillerPairCorr
  0.67DBCMX Doubleline StrategicPairCorr
  0.94DBELX Doubleline EmergingPairCorr
  0.95DBFRX Doubleline Floating RatePairCorr
  0.91DBLTX Doubleline Total ReturnPairCorr
  0.98DBLSX Doubleline Low DurationPairCorr
  0.99DBLNX Doubleline IncomePairCorr
  0.81DBLLX Doubleline Low DurationPairCorr
  0.99DBLIX Doubleline IncomePairCorr
  0.74DBLGX Doubleline Global BondPairCorr
  0.93DBLFX Doubleline E FixedPairCorr
  0.74DBLDX Doubleline Long DurationPairCorr
  0.95DDCFX Doubleline Core FixedPairCorr
  0.86DDCPX Doubleline ShillerPairCorr
  1.0DDLDX Doubleline Low DurationPairCorr
  0.95DDTRX Doubleline Total ReturnPairCorr
  0.99DELNX Doubleline Low DurationPairCorr
  0.98DFLEX Doubleline FlexiblePairCorr
  0.95PONAX Pimco IncomePairCorr
  0.95PONCX Pimco IncomePairCorr
  0.96PIPNX Pimco IncomePairCorr
  0.96PONRX Pimco IncomePairCorr
  0.95PONPX Pimco Incme FundPairCorr
  0.96PIINX Pimco IncomePairCorr

Moving against Doubleline Mutual Fund

  0.94USPSX Profunds UltrashortPairCorr
  0.94USPIX Profunds UltrashortPairCorr
  0.84UIPIX Ultrashort Mid CapPairCorr
  0.83TCTGX Transamerica CleartrackPairCorr
  0.83TCTJX Transamerica CleartrackPairCorr
  0.82TDKTX Cleartrack 2015 ClassPairCorr
  0.81TCSUX Cleartrack 2020 ClassPairCorr

Related Correlations Analysis


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

DLINX
+ 0.99
DLENX
DLSNX
+ 0.99
DLINX
DLSNX
+ 0.98
DLENX
DLSNX
+ 0.97
DLFNX
DLINX
+ 0.96
DLFNX
DLFNX
+ 0.94
DLENX
  

High negative correlations

DLLDX
- 0.06
DLEUX

Risk-Adjusted Indicators

There is a big difference between Doubleline Mutual Fund performing well and Doubleline Flexible 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 Doubleline Flexible'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
DLCMX  0.41  0.05 (0.10) 0.69  0.39 
(0.52)
 1.00 
(0.70)
 2.57 
DLENX  0.08  0.04 (0.42) 2.22  0.00 
(0.14)
 0.22 
(0.11)
 0.45 
DLELX  0.28  0.06 (0.13) 0.82  0.00 
(0.35)
 0.65 
(0.34)
 1.87 
DLFRX  0.07  0.01  0.00  0.42  0.00 
 0.00 
 0.11 
(0.11)
 0.23 
DLFNX  0.20  0.03 (0.32) 0.61  0.00 
(0.27)
 0.43 
(0.33)
 1.08 
DLEUX  0.66 (0.04)(0.09) 0.05  0.82 
(0.65)
 1.24 
(1.41)
 3.17 
DLGBX  0.28  0.02 (0.24) 0.50  0.22 
(0.32)
 0.58 
(0.46)
 1.62 
DLINX  0.07  0.01 (0.54) 0.46  0.00 
(0.12)
 0.12 
(0.11)
 0.34 
DLLDX  0.50  0.03 (0.12) 0.36  0.53 
(0.55)
 0.99 
(0.96)
 2.63 
DLSNX  0.07  0.01 (0.65) 2.99  0.00 
(0.12)
 0.11 
(0.10)
 0.42 

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