Doubleline Yield Correlations

XDLYX Fund

USD 15.89 0.02 0.13%

The current 90-days correlation between Doubleline Yield Opp and Transamerica Large Cap is 0.18 (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

Significant diversification

The correlation between Doubleline Yield Opportunities and DJI is 0.08 (i.e., Significant 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 Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Doubleline Yield Opportunities. 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 manufacturing.

Moving together with Doubleline Mutual Fund

0.7	GQLOX	Gmo Quality Fund	Pair Corr
0.68	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.75	WMT	Walmart	Pair Corr

Moving against Doubleline Mutual Fund

0.53	MRK	Merck Company	Pair Corr
0.34	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr

Related Correlations Analysis

	TALCX	FCLKX	OAKLX	AMFFX	TRCPX	PAFDX	TACLX
TALCX		0.88	0.88	0.85	0.84	0.8	0.81	TALCX
FCLKX	0.88		0.84	0.63	0.64	0.55	0.57	FCLKX
OAKLX	0.88	0.84		0.74	0.86	0.64	0.74	OAKLX
AMFFX	0.85	0.63	0.74		0.93	0.94	0.97	AMFFX
TRCPX	0.84	0.64	0.86	0.93		0.87	0.9	TRCPX
PAFDX	0.8	0.55	0.64	0.94	0.87		0.89	PAFDX
TACLX	0.81	0.57	0.74	0.97	0.9	0.89		TACLX
	TALCX	FCLKX	OAKLX	AMFFX	TRCPX	PAFDX	TACLX

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Risk-Adjusted Indicators

There is a big difference between Doubleline Mutual Fund performing well and Doubleline Yield 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 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
TALCX	0.62	0.00	0.01	0.00	0.77	(0.68)	1.36	(1.36)	3.68
FCLKX	0.80	(0.01)	(0.01)	(0.01)	1.14	(0.78)	1.58	(1.89)	5.00
OAKLX	0.77	(0.03)	0.00	0.20	0.00	0.00	1.43	(1.88)	3.58
AMFFX	0.54	0.05	0.07	0.06	0.57	(0.61)	1.09	(1.09)	2.75
TRCPX	0.67	0.02	0.02	(0.12)	0.85	(0.71)	1.27	(1.53)	3.55
PAFDX	0.58	0.08	0.11	0.11	0.56	(0.65)	1.23	(1.10)	3.38
TACLX	0.62	0.03	0.04	0.04	0.74	(0.64)	1.28	(1.14)	3.10

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