Correlation Between Doubleline Total and Growth Income
Can any of the company-specific risk be diversified away by investing in both Doubleline Total and Growth Income 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 Total and Growth Income into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Doubleline Total Return and Growth Income Fund, you can compare the effects of market volatilities on Doubleline Total and Growth Income 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 Total with a short position of Growth Income. Check out your portfolio center. Please also check ongoing floating volatility patterns of Doubleline Total and Growth Income.
Diversification Opportunities for Doubleline Total and Growth Income
0.85 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Doubleline and Growth is 0.85. Overlapping area represents the amount of risk that can be diversified away by holding Doubleline Total Return and Growth Income Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Growth Income and Doubleline Total 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 Total Return are associated (or correlated) with Growth Income. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Growth Income has no effect on the direction of Doubleline Total i.e., Doubleline Total and Growth Income go up and down completely randomly.
Pair Corralation between Doubleline Total and Growth Income
Assuming the 90 days horizon Doubleline Total is expected to generate 2.23 times less return on investment than Growth Income. But when comparing it to its historical volatility, Doubleline Total Return is 2.52 times less risky than Growth Income. It trades about 0.23 of its potential returns per unit of risk. Growth Income Fund is currently generating about 0.2 of returns per unit of risk over similar time horizon. If you would invest 3,295 in Growth Income Fund on June 9, 2025 and sell it today you would earn a total of 277.00 from holding Growth Income Fund or generate 8.41% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Doubleline Total Return vs. Growth Income Fund
Performance |
| Timeline |
| Doubleline Total Return |
| Growth Income |
Doubleline Total and Growth Income Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Doubleline Total and Growth Income
The main advantage of trading using opposite Doubleline Total and Growth Income positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Doubleline Total position performs unexpectedly, Growth Income 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 Growth Income will offset losses from the drop in Growth Income's long position.| Doubleline Total vs. Osterweis Strategic Income | Doubleline Total vs. Metropolitan West Total | Doubleline Total vs. Doubleline Low Duration | Doubleline Total vs. Akre Focus Fund |
| Growth Income vs. Siit Equity Factor | Growth Income vs. Doubleline Core Fixed | Growth Income vs. Old Westbury Fixed | Growth Income vs. Qs Global Equity |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
Other Complementary Tools
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm |