Doubleline Long Correlations

DBLDX Fund

USD 6.37 0.01 0.16%

The current 90-days correlation between Doubleline Long Duration and Absolute Convertible Arbitrage is 0.3 (i.e., Weak diversification). The correlation of Doubleline Long 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 Long Correlation With Market

Significant diversification

The correlation between Doubleline Long Duration and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Doubleline Long Duration 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 Long Duration. 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 unemployment.

Moving together with Doubleline Mutual Fund

0.88	DLENX	Doubleline Emerging	Pair Corr
0.86	DLELX	Doubleline Emerging	Pair Corr
0.97	DLFNX	Doubleline E Fixed	Pair Corr
0.91	DLEUX	Doubleline Shiller	Pair Corr
0.96	DLGBX	Doubleline Global Bond	Pair Corr
0.87	DLINX	Doubleline Flexible	Pair Corr
1.0	DLLDX	Doubleline Long Duration	Pair Corr
0.89	DLSNX	Doubleline Low Duration	Pair Corr
0.97	DLTNX	Doubleline Total Return	Pair Corr
0.95	BILTX	Doubleline Infrastructure	Pair Corr
0.95	BILDX	Doubleline Infrastructure	Pair Corr
0.91	DSEUX	Doubleline Shiller	Pair Corr
0.86	DBELX	Doubleline Emerging	Pair Corr
0.94	DBLTX	Doubleline Total Return	Pair Corr
0.89	DBLSX	Doubleline Low Duration	Pair Corr
0.87	DBLNX	Doubleline Income	Pair Corr
0.86	DBLLX	Doubleline Low Duration	Pair Corr
0.88	DBLIX	Doubleline Income	Pair Corr
0.89	DBLEX	Doubleline Emerging	Pair Corr
0.96	DBLGX	Doubleline Global Bond	Pair Corr
0.94	DBLFX	Doubleline E Fixed	Pair Corr
0.93	DBSCX	Doubleline Selective	Pair Corr
0.94	DDCFX	Doubleline Core Fixed	Pair Corr
0.86	DDLDX	Doubleline Low Duration	Pair Corr
0.94	DDTRX	Doubleline Total Return	Pair Corr
0.86	DELNX	Doubleline Low Duration	Pair Corr
0.87	DFFLX	Doubleline Flexible	Pair Corr
0.87	DFLEX	Doubleline Flexible	Pair Corr
1.0	FTLTX	Fidelity Series Long	Pair Corr
1.0	VLGSX	Vanguard Long Term	Pair Corr

Moving against Doubleline Mutual Fund

0.47	DLMOX	Doubleline Multi Asset	Pair Corr
0.5	DBMOX	Doubleline Multi Asset	Pair Corr
0.48	VITSX	Vanguard Total Stock	Pair Corr
0.43	VTSAX	Vanguard Total Stock	Pair Corr
0.43	VTSMX	Vanguard Total Stock	Pair Corr
0.43	VSMPX	Vanguard Total Stock	Pair Corr
0.43	VSTSX	Vanguard Total Stock	Pair Corr
0.39	VFIAX	Vanguard 500 Index	Pair Corr

Related Correlations Analysis

	ARBOX	FSAWX	PCNTX	CCD	GCV	XAVKX
ARBOX		0.98	-0.52	-0.69	0.42	-0.36	ARBOX
FSAWX	0.98		-0.64	-0.78	0.3	-0.48	FSAWX
PCNTX	-0.52	-0.64		0.89	0.3	0.95	PCNTX
CCD	-0.69	-0.78	0.89		0.16	0.8	CCD
GCV	0.42	0.3	0.3	0.16		0.35	GCV
XAVKX	-0.36	-0.48	0.95	0.8	0.35		XAVKX
	ARBOX	FSAWX	PCNTX	CCD	GCV	XAVKX

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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

FSAWX	+ 0.98	ARBOX
XAVKX	+ 0.95	PCNTX
CCD	+ 0.89	PCNTX
XAVKX	+ 0.8	CCD
GCV	+ 0.42	ARBOX
XAVKX	+ 0.35	GCV

High negative correlations

CCD	- 0.78	FSAWX
CCD	- 0.69	ARBOX
PCNTX	- 0.64	FSAWX
PCNTX	- 0.52	ARBOX
XAVKX	- 0.48	FSAWX
XAVKX	- 0.36	ARBOX

Risk-Adjusted Indicators

There is a big difference between Doubleline Mutual Fund performing well and Doubleline Long 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 Long'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
ARBOX	0.05	0.02	0.00	1.32	0.00	0.00	0.09	0.00	0.18
FSAWX	0.08	0.04	0.39	(1.05)	0.00	(0.14)	0.19	(0.10)	0.38
PCNTX	0.66	(0.08)	0.00	1.61	0.00	0.00	1.26	(1.68)	3.46
CCD	0.80	(0.10)	0.00	(0.20)	0.00	0.00	1.41	(1.67)	7.13
GCV	0.91	0.05	0.04	0.10	1.18	(1.00)	2.17	(2.14)	6.16
XAVKX	0.55	(0.05)	0.00	0.58	0.00	0.00	0.93	(1.14)	2.56

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