Doubleline Emerging Correlations

DBELX Fund

USD 8.66 0.01 0.12%

The current 90-days correlation between Doubleline Emerging and Gabelli Global Financial is 0.43 (i.e., Very weak diversification). The correlation of Doubleline Emerging 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 Emerging Correlation With Market

Average diversification

The correlation between Doubleline Emerging Markets and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Doubleline Emerging Markets 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 Emerging Markets. 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 bureau of economic analysis.

Moving together with Doubleline Mutual Fund

0.93	DLENX	Doubleline Emerging	Pair Corr
1.0	DLELX	Doubleline Emerging	Pair Corr
0.9	DLFNX	Doubleline E Fixed	Pair Corr
0.97	DLEUX	Doubleline Shiller	Pair Corr
0.96	DLGBX	Doubleline Global Bond	Pair Corr
0.92	DLINX	Doubleline Flexible	Pair Corr
0.86	DLLDX	Doubleline Long Duration	Pair Corr
0.93	DLSNX	Doubleline Low Duration	Pair Corr
0.91	DLTNX	Doubleline Total Return	Pair Corr
0.9	BILTX	Doubleline Infrastructure	Pair Corr
0.91	BILDX	Doubleline Infrastructure	Pair Corr
0.97	DSEUX	Doubleline Shiller	Pair Corr
0.91	DBLTX	Doubleline Total Return	Pair Corr
0.92	DBLSX	Doubleline Low Duration	Pair Corr
0.9	DBLNX	Doubleline Income	Pair Corr
0.95	DBLLX	Doubleline Low Duration	Pair Corr
0.9	DBLIX	Doubleline Income	Pair Corr
0.94	DBLEX	Doubleline Emerging	Pair Corr
0.96	DBLGX	Doubleline Global Bond	Pair Corr
0.9	DBLFX	Doubleline E Fixed	Pair Corr
0.86	DBLDX	Doubleline Long Duration	Pair Corr
0.93	DBSCX	Doubleline Selective	Pair Corr
0.9	DDCFX	Doubleline Core Fixed	Pair Corr
0.91	DDLDX	Doubleline Low Duration	Pair Corr
0.91	DDTRX	Doubleline Total Return	Pair Corr
0.94	DELNX	Doubleline Low Duration	Pair Corr
0.92	DFFLX	Doubleline Flexible	Pair Corr
0.92	DFLEX	Doubleline Flexible	Pair Corr
0.98	PLMPX	Pimco Emerging Markets	Pair Corr
0.98	PLMIX	Pimco Emerging Markets	Pair Corr

Moving against Doubleline Mutual Fund

0.64	DLMOX	Doubleline Multi Asset	Pair Corr
0.65	DBMOX	Doubleline Multi Asset	Pair Corr

Related Correlations Analysis

	GCFSX	MODXX	HEWXX	JRSXX	FIKBX	DVFYX	IAAEX
GCFSX		0.0	0.0	0.0	0.46	0.83	0.54	GCFSX
MODXX	0.0		0.0	0.0	0.0	0.0	0.0	MODXX
HEWXX	0.0	0.0		0.0	0.0	0.0	0.0	HEWXX
JRSXX	0.0	0.0	0.0		0.0	0.0	0.0	JRSXX
FIKBX	0.46	0.0	0.0	0.0		0.86	0.53	FIKBX
DVFYX	0.83	0.0	0.0	0.0	0.86		0.63	DVFYX
IAAEX	0.54	0.0	0.0	0.0	0.53	0.63		IAAEX
	GCFSX	MODXX	HEWXX	JRSXX	FIKBX	DVFYX	IAAEX

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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

DVFYX	+ 0.86	FIKBX
DVFYX	+ 0.83	GCFSX
IAAEX	+ 0.63	DVFYX
IAAEX	+ 0.54	GCFSX
IAAEX	+ 0.53	FIKBX
FIKBX	+ 0.46	GCFSX

High negative correlations

IAAEX	- 0.0	JRSXX
DVFYX	- 0.0	JRSXX
FIKBX	- 0.0	JRSXX
IAAEX	- 0.0	HEWXX
DVFYX	- 0.0	HEWXX
FIKBX	- 0.0	HEWXX

Risk-Adjusted Indicators

There is a big difference between Doubleline Mutual Fund performing well and Doubleline Emerging 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 Emerging'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
GCFSX	0.73	0.13	0.13	0.10	0.90	(0.78)	1.80	(1.43)	4.68
MODXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HEWXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
JRSXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FIKBX	0.85	0.05	0.00	(0.02)	0.00	0.00	1.73	(2.05)	6.29
DVFYX	0.81	0.10	0.08	0.04	1.13	(0.81)	1.65	(1.88)	6.47
IAAEX	0.77	(0.07)	0.00	(0.18)	0.00	0.00	1.40	(1.19)	7.75

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