Correlation Between DoubleLine ETF and Hartford Total

Can any of the company-specific risk be diversified away by investing in both DoubleLine ETF and Hartford Total 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 ETF and Hartford Total into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between DoubleLine ETF Trust and Hartford Total Return, you can compare the effects of market volatilities on DoubleLine ETF and Hartford Total 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 ETF with a short position of Hartford Total. Check out your portfolio center. Please also check ongoing floating volatility patterns of DoubleLine ETF and Hartford Total.

Diversification Opportunities for DoubleLine ETF and Hartford Total

0.59

Correlation Coefficient

DoubleLine ETF  Hartford Total

Very weak diversification

The 3 months correlation between DoubleLine and Hartford is 0.59. Overlapping area represents the amount of risk that can be diversified away by holding DoubleLine ETF Trust and Hartford Total Return in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hartford Total Return and DoubleLine ETF 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 ETF Trust are associated (or correlated) with Hartford Total. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hartford Total Return has no effect on the direction of DoubleLine ETF i.e., DoubleLine ETF and Hartford Total go up and down completely randomly.

Pair Corralation between DoubleLine ETF and Hartford Total

Considering the 90-day investment horizon DoubleLine ETF Trust is expected to generate 0.63 times more return on investment than Hartford Total. However, DoubleLine ETF Trust is 1.58 times less risky than Hartford Total. It trades about 0.17 of its potential returns per unit of risk. Hartford Total Return is currently generating about 0.03 per unit of risk. If you would invest  4,991  in DoubleLine ETF Trust on September 13, 2025 and sell it today you would earn a total of  66.00  from holding DoubleLine ETF Trust or generate 1.32% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Weak
Accuracy	98.44%
Values	Daily Returns

DoubleLine ETF Trust  vs.  Hartford Total Return

DoubleLine ETF Trust

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in DoubleLine ETF Trust are ranked lower than 13 (%) of all global equities and portfolios over the last 90 days. In spite of fairly strong primary indicators, DoubleLine ETF is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Hartford Total Return

Risk-Adjusted Performance

Soft

Compared to the overall equity markets, risk-adjusted returns on investments in Hartford Total Return are ranked lower than 2 (%) of all global equities and portfolios over the last 90 days. Despite somewhat strong basic indicators, Hartford Total is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Pair Trading with DoubleLine ETF and Hartford Total

The main advantage of trading using opposite DoubleLine ETF and Hartford Total positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DoubleLine ETF position performs unexpectedly, Hartford Total 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 Hartford Total will offset losses from the drop in Hartford Total's long position.

The idea behind DoubleLine ETF Trust and Hartford Total Return pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.