Correlation Between Doubleline Low and Leuthold Global
Can any of the company-specific risk be diversified away by investing in both Doubleline Low and Leuthold Global at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Doubleline Low and Leuthold Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Doubleline Low Duration and Leuthold Global Fund, you can compare the effects of market volatilities on Doubleline Low and Leuthold Global and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Doubleline Low with a short position of Leuthold Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Doubleline Low and Leuthold Global.
Diversification Opportunities for Doubleline Low and Leuthold Global
0.92 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Doubleline and Leuthold is 0.92. Overlapping area represents the amount of risk that can be diversified away by holding Doubleline Low Duration and Leuthold Global Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Leuthold Global and Doubleline Low is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Doubleline Low Duration are associated (or correlated) with Leuthold Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Leuthold Global has no effect on the direction of Doubleline Low i.e., Doubleline Low and Leuthold Global go up and down completely randomly.
Pair Corralation between Doubleline Low and Leuthold Global
Assuming the 90 days horizon Doubleline Low is expected to generate 4.17 times less return on investment than Leuthold Global. But when comparing it to its historical volatility, Doubleline Low Duration is 4.91 times less risky than Leuthold Global. It trades about 0.22 of its potential returns per unit of risk. Leuthold Global Fund is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest 929.00 in Leuthold Global Fund on June 4, 2025 and sell it today you would earn a total of 45.00 from holding Leuthold Global Fund or generate 4.84% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Doubleline Low Duration vs. Leuthold Global Fund
Performance |
| Timeline |
| Doubleline Low Duration |
| Leuthold Global |
Risk-Adjusted Performance
Good
Weak | Strong |
Doubleline Low and Leuthold Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Doubleline Low and Leuthold Global
The main advantage of trading using opposite Doubleline Low and Leuthold Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Doubleline Low position performs unexpectedly, Leuthold Global can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Leuthold Global will offset losses from the drop in Leuthold Global's long position.| Doubleline Low vs. Osterweis Strategic Income | Doubleline Low vs. Metropolitan West Unconstrained | Doubleline Low vs. Doubleline Total Return | Doubleline Low vs. Akre Focus Fund |
| Leuthold Global vs. Goldman Sachs Small | Leuthold Global vs. Touchstone Small Cap | Leuthold Global vs. Pace Smallmedium Value | Leuthold Global vs. Nuveen Nwq Smallmid Cap |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
Other Complementary Tools
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| AI Portfolio Prophet Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum |