Doubleline Core Correlations

DLFNX Fund

USD 9.15 0.06 0.66%

The current 90-days correlation between Doubleline E Fixed and Doubleline Global Bond is 0.64 (i.e., Poor diversification). The correlation of Doubleline Core 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 Core Correlation With Market

Good diversification

The correlation between Doubleline E Fixed and DJI is -0.03 (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 board of governors.

Moving together with Doubleline Mutual Fund

0.99	DLTNX	Doubleline Total Return	Pair Corr
0.86	DBELX	Doubleline Emerging	Pair Corr
0.83	DBLGX	Doubleline Global Bond	Pair Corr
0.95	DDCFX	Doubleline Core Fixed	Pair Corr
1.0	MWTNX	Metropolitan West Total	Pair Corr
1.0	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
0.99	FIWGX	Strategic Advisers	Pair Corr
1.0	DODIX	Dodge Income	Pair Corr
1.0	MWTIX	Metropolitan West Total	Pair Corr
0.99	MWTRX	Metropolitan West Total	Pair Corr
0.98	TIOCX	Transamerica Inflation	Pair Corr
0.8	MCD	McDonalds	Pair Corr
0.91	T	ATT Inc Earnings Call This Week	Pair Corr

Moving against Doubleline Mutual Fund

0.53	VTSAX	Vanguard Total Stock	Pair Corr
0.53	VTSMX	Vanguard Total Stock	Pair Corr
0.53	VSMPX	Vanguard Total Stock	Pair Corr
0.53	VSTSX	Vanguard Total Stock	Pair Corr
0.53	VITSX	Vanguard Total Stock	Pair Corr
0.51	VFIAX	Vanguard 500 Index	Pair Corr
0.51	VFINX	Vanguard 500 Index	Pair Corr
0.51	VFFSX	Vanguard 500 Index	Pair Corr
0.77	MSFT	Microsoft Sell-off Trend	Pair Corr
0.65	AXP	American Express Earnings Call This Week	Pair Corr
0.62	HD	Home Depot	Pair Corr
0.53	HPQ	HP Inc	Pair Corr
0.44	JPM	JPMorgan Chase	Pair Corr
0.43	DIS	Walt Disney Sell-off Trend	Pair Corr
0.41	WMT	Walmart Aggressive Push	Pair Corr
0.38	BA	Boeing Earnings Call This Week	Pair Corr
0.34	MRK	Merck Company Sell-off Trend	Pair Corr

Related Correlations Analysis

	DBLGX	MSTGX	ARECX	GMADX	GMGEX	PHJMX	MGGNX
DBLGX		0.4	-0.15	-0.22	-0.22	-0.27	0.41	DBLGX
MSTGX	0.4		0.69	0.67	0.67	0.64	0.42	MSTGX
ARECX	-0.15	0.69		0.93	0.93	0.97	0.36	ARECX
GMADX	-0.22	0.67	0.93		1.0	0.96	0.13	GMADX
GMGEX	-0.22	0.67	0.93	1.0		0.96	0.13	GMGEX
PHJMX	-0.27	0.64	0.97	0.96	0.96		0.28	PHJMX
MGGNX	0.41	0.42	0.36	0.13	0.13	0.28		MGGNX
	DBLGX	MSTGX	ARECX	GMADX	GMGEX	PHJMX	MGGNX

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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

GMGEX	+ 1.0	GMADX
PHJMX	+ 0.97	ARECX
PHJMX	+ 0.96	GMADX
PHJMX	+ 0.96	GMGEX
GMADX	+ 0.93	ARECX
GMGEX	+ 0.93	ARECX

High negative correlations

PHJMX	- 0.27	DBLGX
GMGEX	- 0.22	DBLGX
GMADX	- 0.22	DBLGX
ARECX	- 0.15	DBLGX

Risk-Adjusted Indicators

There is a big difference between Doubleline Mutual Fund performing well and Doubleline Core 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 Core'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
DBLGX	0.26	0.07	0.50	(4.36)	0.00	(0.35)	0.73	(0.36)	2.12
MSTGX	0.41	0.00	0.09	(0.16)	0.73	(0.41)	0.76	(0.98)	3.99
ARECX	0.94	0.04	0.04	(0.01)	1.43	(0.89)	1.62	(2.44)	6.51
GMADX	0.89	0.03	0.00	(0.03)	0.00	0.00	1.71	(1.93)	8.63
GMGEX	0.89	0.03	0.00	(0.03)	0.00	0.00	1.68	(1.97)	8.66
PHJMX	0.41	0.00	0.00	(0.07)	0.00	0.00	0.70	(1.00)	3.83
MGGNX	0.21	0.00	0.19	0.00	0.27	(0.26)	0.35	(0.58)	1.96

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