Doubleline Long Correlations

DBLDX Fund

USD 6.25 0.01 0.16%

The current 90-days correlation between Doubleline Long Duration and Jhancock Real Estate is -0.08 (i.e., Good 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 0.09 (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

0.78	DLELX	Doubleline Emerging	Pair Corr
0.81	DLFNX	Doubleline E Fixed	Pair Corr
0.65	DLEUX	Doubleline Shiller	Pair Corr
0.93	DLGBX	Doubleline Global Bond	Pair Corr
1.0	DLLDX	Doubleline Long Duration	Pair Corr
0.82	DLMOX	Doubleline Multi Asset	Pair Corr
0.85	DLTNX	Doubleline Total Return	Pair Corr
0.85	BILTX	Doubleline Infrastructure	Pair Corr
0.74	BILDX	Doubleline Infrastructure	Pair Corr
0.65	DSEUX	Doubleline Shiller	Pair Corr
0.65	DSENX	Doubleline Shiller	Pair Corr
0.66	DSEEX	Doubleline Shiller	Pair Corr
0.78	DBELX	Doubleline Emerging	Pair Corr
0.85	DBLTX	Doubleline Total Return	Pair Corr
0.89	DBLGX	Doubleline Global Bond	Pair Corr
0.77	DBLFX	Doubleline E Fixed	Pair Corr
0.81	DBMOX	Doubleline Multi Asset	Pair Corr
0.85	DDCFX	Doubleline Core Fixed	Pair Corr
0.66	DDCPX	Doubleline Shiller	Pair Corr
0.85	DDTRX	Doubleline Total Return	Pair Corr
0.94	FTLTX	Fidelity Series Long	Pair Corr
1.0	VLGSX	Vanguard Long Term	Pair Corr

Moving against Doubleline Mutual Fund

0.65	DBLIX	Doubleline Income	Pair Corr
0.62	DBLNX	Doubleline Income	Pair Corr
0.59	DLCMX	Doubleline Strategic	Pair Corr
0.59	DBCMX	Doubleline Strategic	Pair Corr
0.58	DLFRX	Doubleline Floating Rate	Pair Corr
0.58	DBFRX	Doubleline Floating Rate	Pair Corr
0.55	DLINX	Doubleline Flexible	Pair Corr
0.41	DBLSX	Doubleline Low Duration	Pair Corr
0.4	DLSNX	Doubleline Low Duration	Pair Corr
0.38	DBLLX	Doubleline Low Duration	Pair Corr
0.55	DFFLX	Doubleline Flexible	Pair Corr
0.54	DFLEX	Doubleline Flexible	Pair Corr
0.35	DDLDX	Doubleline Low Duration	Pair Corr
0.35	DELNX	Doubleline Low Duration	Pair Corr

Related Correlations Analysis

	JYEBX	CREMX	FORFX	VREQX	VGSIX	REPIX	VUVAF	IVRSX
JYEBX		-0.73	-0.71	0.92	0.93	0.93	0.0	0.93	JYEBX
CREMX	-0.73		0.98	-0.78	-0.72	-0.77	0.0	-0.76	CREMX
FORFX	-0.71	0.98		-0.76	-0.69	-0.75	0.0	-0.73	FORFX
VREQX	0.92	-0.78	-0.76		0.99	0.99	0.0	1.0	VREQX
VGSIX	0.93	-0.72	-0.69	0.99		0.99	0.0	0.99	VGSIX
REPIX	0.93	-0.77	-0.75	0.99	0.99		0.0	0.99	REPIX
VUVAF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	VUVAF
IVRSX	0.93	-0.76	-0.73	1.0	0.99	0.99	0.0		IVRSX
	JYEBX	CREMX	FORFX	VREQX	VGSIX	REPIX	VUVAF	IVRSX

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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

IVRSX	+ 1.0	VREQX
VGSIX	+ 0.99	VREQX
REPIX	+ 0.99	VREQX
REPIX	+ 0.99	VGSIX
IVRSX	+ 0.99	VGSIX
IVRSX	+ 0.99	REPIX

High negative correlations

VREQX	- 0.78	CREMX
REPIX	- 0.77	CREMX
VREQX	- 0.76	FORFX
IVRSX	- 0.76	CREMX
REPIX	- 0.75	FORFX
IVRSX	- 0.73	FORFX

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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
JYEBX	0.82	(0.13)	(0.24)	1.32	(1.61)	5.47
CREMX	0.03	0.01	2.68	0.08	0.00	0.08
FORFX	0.06	0.04	6.82	0.11	0.00	0.32
VREQX	0.86	(0.10)	(1.33)	1.38	(1.79)	5.27
VGSIX	0.88	(0.08)	(0.79)	1.48	(1.71)	5.53
REPIX	1.38	(0.13)	(1.19)	2.49	(2.65)	8.45
VUVAF	0.00	0.00	0.00	0.00	0.00	0.00
IVRSX	0.84	(0.09)	(1.41)	1.35	(1.69)	5.23

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