Doubleline Correlations

DLFNX Fund

USD 9.30 0.05 0.53%

The current 90-days correlation between Doubleline E Fixed and Doubleline Infrastructure Income is 0.93 (i.e., Almost no diversification). The correlation of Doubleline 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 Correlation With Market

Good diversification

The correlation between Doubleline E Fixed and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Doubleline E Fixed 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 E Fixed. 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 state.

Moving together with Doubleline Mutual Fund

0.77	DLSNX	Doubleline Low Duration	Pair Corr
0.77	DLTNX	Doubleline Total Return	Pair Corr
0.64	DBELX	Doubleline Emerging	Pair Corr
0.73	DBLLX	Doubleline Low Duration	Pair Corr
0.8	DBSCX	Doubleline Selective	Pair Corr
0.78	DDCFX	Doubleline Core Fixed	Pair Corr
0.99	DOXIX	Dodge Cox Income	Pair Corr
0.99	MWTNX	Metropolitan West Total	Pair Corr
0.75	MWTSX	Metropolitan West Total	Pair Corr
0.99	PTTPX	Pimco Total Return	Pair Corr
0.99	PTRRX	Total Return	Pair Corr
0.99	PTRAX	Total Return	Pair Corr
0.99	PTTRX	Total Return	Pair Corr
0.98	FIWGX	Strategic Advisers	Pair Corr
0.99	DODIX	Dodge Income	Pair Corr
0.99	MWTIX	Metropolitan West Total	Pair Corr
0.84	SMPSX	Semiconductor Ultrasector	Pair Corr
0.65	SMPIX	Semiconductor Ultrasector	Pair Corr
0.86	TTEEX	T Rowe Price	Pair Corr
0.86	TREMX	T Rowe Price	Pair Corr
0.86	FELIX	Fidelity Advisor Sem	Pair Corr
0.85	ONERX	One Rock Fund	Pair Corr
0.63	RYVYX	Nasdaq 100 2x	Pair Corr
0.63	RYVLX	Nasdaq 100 2x	Pair Corr
0.62	FSELX	Fidelity Select Semi	Pair Corr
0.68	CEE	Central Europe Russia	Pair Corr
0.67	SHDYX	American Beacon Shapiro	Pair Corr
0.87	RSYYX	Victory High Yield	Pair Corr
0.87	FBGRX	Fidelity Blue Chip	Pair Corr
0.88	IBALX	Transamerica Multi	Pair Corr
0.71	ISWIX	Voya Solution Income	Pair Corr
0.87	ASMRX	Strategic Allocation:	Pair Corr
0.74	FPAEX	New Hampshire Higher	Pair Corr
0.87	TMARX	Touchstone Arbitrage	Pair Corr
0.83	SENCX	Sentinel Mon Stock	Pair Corr
0.73	FAJJX	Fajjx	Pair Corr
0.87	FSAZX	Fidelity Arizona Mun	Pair Corr
0.7	MMEYX	Victory Integrity	Pair Corr

Related Correlations Analysis

	BILTX	BILDX	DSEUX	DSENX	DSEEX	DBCMX	DBFRX	DBLTX	DBLSX
BILTX		0.79	-0.01	0.79	0.59	0.31	0.86	0.98	0.98	BILTX
BILDX	0.79		0.14	0.6	0.83	0.62	0.76	0.74	0.78	BILDX
DSEUX	-0.01	0.14		0.35	0.52	0.23	0.15	-0.08	0.04	DSEUX
DSENX	0.79	0.6	0.35		0.69	0.3	0.86	0.72	0.81	DSENX
DSEEX	0.59	0.83	0.52	0.69		0.67	0.75	0.49	0.62	DSEEX
DBCMX	0.31	0.62	0.23	0.3	0.67		0.43	0.24	0.35	DBCMX
DBFRX	0.86	0.76	0.15	0.86	0.75	0.43		0.78	0.92	DBFRX
DBLTX	0.98	0.74	-0.08	0.72	0.49	0.24	0.78		0.95	DBLTX
DBLSX	0.98	0.78	0.04	0.81	0.62	0.35	0.92	0.95		DBLSX
	BILTX	BILDX	DSEUX	DSENX	DSEEX	DBCMX	DBFRX	DBLTX	DBLSX

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

DBLTX	+ 0.98	BILTX
DBLSX	+ 0.98	BILTX
DBLSX	+ 0.95	DBLTX
DBLSX	+ 0.92	DBFRX
DBFRX	+ 0.86	BILTX
DBFRX	+ 0.86	DSENX

High negative correlations

DBLTX	- 0.08	DSEUX
DSEUX	- 0.01	BILTX

Risk-Adjusted Indicators

There is a big difference between Doubleline Mutual Fund performing well and Doubleline 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'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
BILTX	0.18	0.03	(0.33)	4.39	0.00	(0.24)	0.42	(0.32)	1.17
BILDX	0.18	0.03	(0.35)	0.58	0.00	(0.24)	0.42	(0.22)	0.86
DSEUX	0.67	(0.04)	(0.08)	0.05	0.82	(0.66)	1.31	(1.35)	3.15
DSENX	0.52	0.10	(0.05)	(0.31)	0.57	(0.55)	1.13	(1.09)	2.82
DSEEX	0.51	(0.01)	(0.05)	0.10	0.55	(0.53)	1.13	(1.12)	2.87
DBCMX	0.41	0.07	(0.09)	(1.38)	0.37	(0.50)	0.85	(0.69)	2.53
DBFRX	0.06	0.01	0.00	0.91	0.00	0.00	0.11	0.00	0.78
DBLTX	0.21	0.04	(0.30)	(0.67)	0.00	(0.29)	0.45	(0.34)	1.36
DBLSX	0.06	0.01	(0.63)	(1.01)	0.00	(0.12)	0.10	(0.10)	0.62

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