Doubleline Income Correlations

DBLNX Fund

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The current 90-days correlation between Doubleline Income and Corporate Bond Portfolio is 0.37 (i.e., Weak diversification). The correlation of Doubleline Income 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 Income Correlation With Market

Poor diversification

The correlation between Doubleline Income and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Doubleline Income 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 Income. 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 employment.

Moving together with Doubleline Mutual Fund

0.74	DLELX	Doubleline Emerging	Pair Corr
0.86	DLFRX	Doubleline Floating Rate	Pair Corr
0.7	DLFNX	Doubleline E Fixed	Pair Corr
0.67	DLGBX	Doubleline Global Bond	Pair Corr
0.94	DLINX	Doubleline Flexible	Pair Corr
0.87	DLSNX	Doubleline Low Duration	Pair Corr
0.72	DLTNX	Doubleline Total Return	Pair Corr
0.79	DSENX	Doubleline Shiller	Pair Corr
0.7	DSEEX	Doubleline Shiller	Pair Corr
0.77	DBELX	Doubleline Emerging	Pair Corr
0.93	DBFRX	Doubleline Floating Rate	Pair Corr
0.73	DBLTX	Doubleline Total Return	Pair Corr
0.94	DBLSX	Doubleline Low Duration	Pair Corr
0.8	DBLLX	Doubleline Low Duration	Pair Corr
0.91	DBLIX	Doubleline Income	Pair Corr
0.63	DBLEX	Doubleline Emerging	Pair Corr
0.71	DBLFX	Doubleline E Fixed	Pair Corr
0.79	DBSCX	Doubleline Selective	Pair Corr
0.74	DDCFX	Doubleline Core Fixed	Pair Corr
0.8	DDCPX	Doubleline Shiller	Pair Corr
0.83	DDLDX	Doubleline Low Duration	Pair Corr
0.82	DDTRX	Doubleline Total Return	Pair Corr
0.82	DELNX	Doubleline Low Duration	Pair Corr
0.81	DFFLX	Doubleline Flexible	Pair Corr
0.94	DFLEX	Doubleline Flexible	Pair Corr
0.82	PONAX	Pimco Income	Pair Corr
0.9	PONCX	Pimco Income	Pair Corr
0.91	PIPNX	Pimco Income	Pair Corr
0.82	PONRX	Pimco Income	Pair Corr

Related Correlations Analysis

	FLBDX	ETGAX	PAI	RMMZ	HCYIX	DELNX	PFO	GRSPX	ETMAX	MPFDX
FLBDX		0.82	0.8	-0.46	0.81	0.92	0.36	0.61	0.78	0.8	FLBDX
ETGAX	0.82		0.73	-0.32	0.76	0.82	0.38	0.59	0.88	0.58	ETGAX
PAI	0.8	0.73		-0.24	0.76	0.76	0.5	0.79	0.64	0.61	PAI
RMMZ	-0.46	-0.32	-0.24		-0.41	-0.42	0.17	-0.16	-0.26	-0.57	RMMZ
HCYIX	0.81	0.76	0.76	-0.41		0.86	0.09	0.81	0.58	0.63	HCYIX
DELNX	0.92	0.82	0.76	-0.42	0.86		0.25	0.65	0.79	0.68	DELNX
PFO	0.36	0.38	0.5	0.17	0.09	0.25		0.11	0.44	0.23	PFO
GRSPX	0.61	0.59	0.79	-0.16	0.81	0.65	0.11		0.44	0.41	GRSPX
ETMAX	0.78	0.88	0.64	-0.26	0.58	0.79	0.44	0.44		0.48	ETMAX
MPFDX	0.8	0.58	0.61	-0.57	0.63	0.68	0.23	0.41	0.48		MPFDX
	FLBDX	ETGAX	PAI	RMMZ	HCYIX	DELNX	PFO	GRSPX	ETMAX	MPFDX

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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

DELNX	+ 0.92	FLBDX
ETMAX	+ 0.88	ETGAX
DELNX	+ 0.86	HCYIX
ETGAX	+ 0.82	FLBDX
DELNX	+ 0.82	ETGAX
HCYIX	+ 0.81	FLBDX

High negative correlations

MPFDX	- 0.57	RMMZ
RMMZ	- 0.46	FLBDX
DELNX	- 0.42	RMMZ
HCYIX	- 0.41	RMMZ
RMMZ	- 0.32	ETGAX
ETMAX	- 0.26	RMMZ

Risk-Adjusted Indicators

There is a big difference between Doubleline Mutual Fund performing well and Doubleline Income 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 Income'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
FLBDX	0.10	0.00	(0.39)	0.05	0.00	(0.14)	0.21	(0.21)	0.52
ETGAX	0.07	0.00	(0.30)	0.13	0.00	(0.20)	0.25	(0.12)	0.86
PAI	0.26	(0.01)	(0.16)	0.04	0.31	(0.27)	0.56	(0.49)	1.77
RMMZ	0.50	(0.01)	0.00	(1.39)	0.00	0.00	1.01	(0.97)	3.20
HCYIX	0.28	0.02	(0.05)	0.13	0.19	(0.32)	0.57	(0.40)	3.84
DELNX	0.04	0.00	0.00	0.00	0.00	0.00	0.10	0.00	0.21
PFO	0.37	(0.01)	(0.07)	0.05	0.57	(0.36)	0.74	(0.97)	2.85
GRSPX	0.89	0.12	0.10	0.19	0.84	(1.01)	1.73	(1.88)	10.07
ETMAX	0.07	0.00	(0.31)	0.15	0.00	(0.17)	0.13	(0.13)	0.77
MPFDX	0.16	(0.01)	0.00	(2.84)	0.00	0.00	0.28	(0.37)	0.84

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