DoubleLine Shiller Correlations

DCPE Etf

USD 30.10 0.23 0.77%

The current 90-days correlation between DoubleLine Shiller CAPE and FT Vest Equity is -0.12 (i.e., Good diversification). The correlation of DoubleLine Shiller 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.

DoubleLine Shiller Correlation With Market

Poor diversification

The correlation between DoubleLine Shiller CAPE and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DoubleLine Shiller CAPE 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 Shiller CAPE. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with DoubleLine Etf

0.73	VIG	Vanguard Dividend	Pair Corr
0.76	GE	GE Aerospace	Pair Corr
0.77	IBM	International Business	Pair Corr
0.76	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.75	WMT	Walmart	Pair Corr
0.85	CSCO	Cisco Systems	Pair Corr
0.65	T	ATT Inc Earnings Call This Week	Pair Corr

Moving against DoubleLine Etf

0.31	FCG	First Trust Natural	Pair Corr
0.77	MRK	Merck Company	Pair Corr
0.38	AA	Alcoa Corp	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.05	0.56	-0.52	0.35	0.4	0.33	0.9	-0.75	0.03	META
MSFT	0.05		-0.52	0.01	-0.62	0.7	0.88	0.34	0.2	-0.36	MSFT
UBER	0.56	-0.52		-0.43	0.66	-0.24	-0.44	0.41	-0.75	0.43	UBER
F	-0.52	0.01	-0.43		-0.1	0.01	-0.13	-0.39	0.58	0.29	F
T	0.35	-0.62	0.66	-0.1		-0.56	-0.49	0.2	-0.66	0.55	T
A	0.4	0.7	-0.24	0.01	-0.56		0.76	0.61	0.11	-0.25	A
CRM	0.33	0.88	-0.44	-0.13	-0.49	0.76		0.53	0.04	-0.4	CRM
JPM	0.9	0.34	0.41	-0.39	0.2	0.61	0.53		-0.64	0.09	JPM
MRK	-0.75	0.2	-0.75	0.58	-0.66	0.11	0.04	-0.64		-0.3	MRK
XOM	0.03	-0.36	0.43	0.29	0.55	-0.25	-0.4	0.09	-0.3		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.9	META
CRM	+ 0.88	MSFT
CRM	+ 0.76	A
A	+ 0.7	MSFT
T	+ 0.66	UBER
JPM	+ 0.61	A

High negative correlations

MRK	- 0.75	UBER
MRK	- 0.75	META
MRK	- 0.66	T
MRK	- 0.64	JPM
T	- 0.62	MSFT
A	- 0.56	T

DoubleLine Shiller Competition Risk-Adjusted Indicators

There is a big difference between DoubleLine Etf performing well and DoubleLine Shiller ETF 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 Shiller'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
META	1.59	(0.03)	0.00	(0.10)	0.00	0.00	2.57	(3.73)	8.90
MSFT	1.11	(0.19)	0.00	61.51	0.00	0.00	2.58	(2.14)	10.31
UBER	1.95	0.33	0.17	(14.01)	2.12	(2.22)	4.72	(3.13)	12.75
F	1.47	0.08	0.03	0.00	2.22	(1.39)	2.71	(2.89)	10.14
T	1.05	0.27	0.17	0.42	1.61	(1.12)	1.90	(1.75)	11.66
A	1.16	(0.17)	0.00	(0.26)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.37	(0.35)	0.00	1.44	0.00	0.00	2.72	(3.53)	8.88
JPM	1.10	0.07	0.04	(0.01)	1.72	(1.04)	1.99	(3.35)	6.85
MRK	1.15	(0.08)	0.00	1.02	0.00	0.00	2.07	(1.80)	11.58
XOM	1.07	0.10	0.10	0.15	1.40	(1.08)	2.55	(2.36)	5.89

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