Doubleline Global Correlations

DBLGX Fund

USD 8.59 0.04 0.47%

The current 90-days correlation between Doubleline Global Bond and Angel Oak Financial is 0.03 (i.e., Significant diversification). The correlation of Doubleline Global 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 Global Correlation With Market

Good diversification

The correlation between Doubleline Global Bond 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 Global Bond 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 Global Bond. 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 price.

Moving together with Doubleline Mutual Fund

0.89	DLELX	Doubleline Emerging	Pair Corr
0.87	DLFNX	Doubleline E Fixed	Pair Corr
0.61	DLEUX	Doubleline Shiller	Pair Corr
1.0	DLGBX	Doubleline Global Bond	Pair Corr
0.78	DLINX	Doubleline Flexible	Pair Corr
0.84	DLLDX	Doubleline Long Duration	Pair Corr
0.93	DLSNX	Doubleline Low Duration	Pair Corr
0.91	DLTNX	Doubleline Total Return	Pair Corr
0.8	BILTX	Doubleline Infrastructure	Pair Corr
0.81	BILDX	Doubleline Infrastructure	Pair Corr
0.62	DSEUX	Doubleline Shiller	Pair Corr
0.89	DBELX	Doubleline Emerging	Pair Corr
0.94	DBLSX	Doubleline Low Duration	Pair Corr
0.82	DBLNX	Doubleline Income	Pair Corr
0.83	DBLLX	Doubleline Low Duration	Pair Corr
0.83	DBLIX	Doubleline Income	Pair Corr
0.87	DBLFX	Doubleline E Fixed	Pair Corr
0.82	DBLDX	Doubleline Long Duration	Pair Corr
0.9	DBSCX	Doubleline Selective	Pair Corr
0.87	DDCFX	Doubleline Core Fixed	Pair Corr
0.94	DDLDX	Doubleline Low Duration	Pair Corr
0.91	DDTRX	Doubleline Total Return	Pair Corr
0.83	DELNX	Doubleline Low Duration	Pair Corr
0.79	DFFLX	Doubleline Flexible	Pair Corr
0.78	DFLEX	Doubleline Flexible	Pair Corr
0.9	FGBRX	Templeton Global Bond	Pair Corr
0.91	FBNRX	Templeton Global Bond	Pair Corr
0.97	RCWBX	Capital World Bond	Pair Corr

Moving against Doubleline Mutual Fund

0.68	DLMOX	Doubleline Multi Asset	Pair Corr
0.65	DLCMX	Doubleline Strategic	Pair Corr
0.64	DBCMX	Doubleline Strategic	Pair Corr
0.54	DBFRX	Doubleline Floating Rate	Pair Corr
0.53	DLFRX	Doubleline Floating Rate	Pair Corr
0.69	DBMOX	Doubleline Multi Asset	Pair Corr
0.69	CISGX	Touchstone Sands Capital	Pair Corr

Related Correlations Analysis

	XFINX	FTIXX	PSSRX	VFAIX	FIKBX	PGFMX	FIDAX	FAFSX
XFINX		0.0	0.46	0.53	0.51	0.49	0.49	0.51	XFINX
FTIXX	0.0		0.0	0.0	0.0	0.0	0.0	0.0	FTIXX
PSSRX	0.46	0.0		0.99	1.0	0.87	1.0	1.0	PSSRX
VFAIX	0.53	0.0	0.99		0.99	0.91	0.99	0.99	VFAIX
FIKBX	0.51	0.0	1.0	0.99		0.88	1.0	1.0	FIKBX
PGFMX	0.49	0.0	0.87	0.91	0.88		0.87	0.88	PGFMX
FIDAX	0.49	0.0	1.0	0.99	1.0	0.87		1.0	FIDAX
FAFSX	0.51	0.0	1.0	0.99	1.0	0.88	1.0		FAFSX
	XFINX	FTIXX	PSSRX	VFAIX	FIKBX	PGFMX	FIDAX	FAFSX

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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

FIKBX	+ 1.0	PSSRX
FIDAX	+ 1.0	PSSRX
FAFSX	+ 1.0	PSSRX
FIDAX	+ 1.0	FIKBX
FAFSX	+ 1.0	FIKBX
FAFSX	+ 1.0	FIDAX

High negative correlations

FAFSX	- 0.0	FTIXX
FIDAX	- 0.0	FTIXX
PGFMX	- 0.0	FTIXX
FIKBX	- 0.0	FTIXX
VFAIX	- 0.0	FTIXX
PSSRX	- 0.0	FTIXX

Risk-Adjusted Indicators

There is a big difference between Doubleline Mutual Fund performing well and Doubleline Global 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 Global'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
XFINX	0.16	(0.02)	(0.35)	0.28	(0.43)	1.27
FTIXX	0.00	0.00	0.00	0.00	0.00	0.00
PSSRX	1.27	(0.02)	(0.10)	2.17	(3.63)	12.35
VFAIX	1.16	0.02	(0.07)	2.01	(3.26)	11.17
FIKBX	1.24	(0.04)	(0.12)	2.25	(3.55)	11.84
PGFMX	0.56	0.00	(0.08)	0.97	(1.50)	5.59
FIDAX	1.22	(0.03)	(0.11)	2.18	(3.32)	10.83
FAFSX	1.24	(0.04)	(0.12)	2.24	(3.54)	11.80

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