Doubleline Yield Correlations

DLY Fund

USD 16.05 0.05 0.31%

The current 90-days correlation between Doubleline Yield Opp and Highland Opportunities And is 0.12 (i.e., Average diversification). The correlation of Doubleline Yield 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 Yield Correlation With Market

Modest diversification

The correlation between Doubleline Yield Opportunities and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Doubleline Yield Opportunities 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 Yield Opportunities. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Doubleline Fund

0.89	PONAX	Pimco Income	Pair Corr
0.9	PONCX	Pimco Income	Pair Corr
0.9	PIPNX	Pimco Income	Pair Corr
0.84	PONRX	Pimco Income	Pair Corr
0.9	PONPX	Pimco Incme Fund	Pair Corr
0.84	PIINX	Pimco Income	Pair Corr
0.85	PIMIX	Pimco Income	Pair Corr
0.75	LBNDX	Lord Abbett Bond	Pair Corr
0.78	FSTAX	Fidelity Advisor Str	Pair Corr
0.73	FSRIX	Fidelity Advisor Str	Pair Corr
0.82	FGOMX	Strategic Advisers	Pair Corr
0.92	CMBZX	Columbia Emerging Markets	Pair Corr
0.67	FAJJX	Fajjx	Pair Corr
0.73	JADKX	John Hancock Variable	Pair Corr
0.81	FIAIX	Fidelity Advisor Sus	Pair Corr
0.92	SHOAX	American Beacon Sim	Pair Corr
0.91	RIMOX	City National Rochdale	Pair Corr
0.84	LOMAX	Edgar Lomax Value	Pair Corr
0.72	MQY	Blackrock Muniyield	Pair Corr
0.86	CCWFX	Capital World Bond	Pair Corr
0.82	CRAIX	Community Reinvestment	Pair Corr
0.85	IOEBX	Ioebx	Pair Corr
0.84	ABDAX	Columbia Capital All	Pair Corr
0.84	AGD	Aberdeen Global Dynamic	Pair Corr
0.89	SWRSX	Schwab Treasury Inflation	Pair Corr
0.64	MYI	Blackrock Muniyield	Pair Corr
0.74	AWF	Alliancebernstein	Pair Corr
0.68	XPTFX	Federated Project And	Pair Corr
0.84	DPCFX	Delaware Diversified	Pair Corr
0.69	JEMWX	Jpmorgan Emerging Markets	Pair Corr

Related Correlations Analysis

	HFRO	DBL	AWF	EMD	NRGX	NBXG	HGLB	DSL	PAXS	PDI
HFRO		0.37	0.6	0.25	0.0	0.75	0.19	0.4	0.4	0.15	HFRO
DBL	0.37		0.64	0.75	0.0	0.15	0.8	0.87	0.89	0.9	DBL
AWF	0.6	0.64		0.71	0.0	0.39	0.65	0.77	0.78	0.63	AWF
EMD	0.25	0.75	0.71		0.0	0.27	0.83	0.72	0.85	0.74	EMD
NRGX	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	NRGX
NBXG	0.75	0.15	0.39	0.27	0.0		0.05	0.17	0.29	-0.09	NBXG
HGLB	0.19	0.8	0.65	0.83	0.0	0.05		0.79	0.83	0.88	HGLB
DSL	0.4	0.87	0.77	0.72	0.0	0.17	0.79		0.91	0.9	DSL
PAXS	0.4	0.89	0.78	0.85	0.0	0.29	0.83	0.91		0.88	PAXS
PDI	0.15	0.9	0.63	0.74	0.0	-0.09	0.88	0.9	0.88		PDI
	HFRO	DBL	AWF	EMD	NRGX	NBXG	HGLB	DSL	PAXS	PDI

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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

PAXS	+ 0.91	DSL
PDI	+ 0.9	DBL
PDI	+ 0.9	DSL
PAXS	+ 0.89	DBL
PDI	+ 0.88	HGLB
PDI	+ 0.88	PAXS

High negative correlations

PDI	- 0.09	NBXG
PDI	- 0.0	NRGX
PAXS	- 0.0	NRGX
DSL	- 0.0	NRGX
HGLB	- 0.0	NRGX
NBXG	- 0.0	NRGX

Risk-Adjusted Indicators

There is a big difference between Doubleline Fund performing well and Doubleline Yield 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 Yield'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
HFRO	1.02	(0.03)	0.00	(0.14)	0.00	0.00	1.90	(2.65)	8.19
DBL	0.26	0.05	0.22	0.62	0.16	(0.33)	0.64	(0.45)	1.75
AWF	0.36	0.04	0.12	(0.89)	0.50	(0.35)	0.65	(0.83)	2.33
EMD	0.47	0.09	0.19	0.22	0.39	(0.57)	0.93	(0.82)	2.69
NRGX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NBXG	1.09	0.01	0.00	(0.01)	0.00	0.00	2.07	(1.98)	7.23
HGLB	0.82	0.35	0.40	12.37	0.45	(1.01)	2.06	(1.35)	5.82
DSL	0.29	0.05	0.21	0.35	0.17	(0.35)	0.65	(0.47)	1.47
PAXS	0.43	0.12	0.20	0.36	0.45	(0.48)	1.28	(0.78)	3.61
PDI	0.30	0.16	0.43	0.85	0.00	(0.38)	0.82	(0.53)	2.07

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