DoubleLine Shiller Correlations

DCPE Etf

USD 32.05 0.09 0.28%

The current 90-days correlation between DoubleLine Shiller CAPE and FT Vest Equity is 0.46 (i.e., Very weak diversification). The correlation of DoubleLine Shiller 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.

DoubleLine Shiller Correlation With Market

Very poor diversification

The correlation between DoubleLine Shiller CAPE and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DoubleLine Shiller CAPE 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 Shiller CAPE. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with DoubleLine Etf

0.92	VTI	Vanguard Total Stock	Pair Corr
0.9	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.9	IVV	iShares Core SP	Pair Corr
0.84	VIG	Vanguard Dividend Sell-off Trend	Pair Corr
0.91	VV	Vanguard Large Cap	Pair Corr
0.91	RSP	Invesco SP 500	Pair Corr
0.92	IWB	iShares Russell 1000	Pair Corr
0.91	ESGU	iShares ESG Aware	Pair Corr
0.93	DFAC	Dimensional Core Equity	Pair Corr
0.9	SPLG	SPDR Portfolio SP	Pair Corr
0.85	DSJA	DSJA	Pair Corr
0.89	RSPY	Tuttle Capital Management	Pair Corr
0.91	MEME	Roundhill Investments	Pair Corr
0.68	ITDD	iShares Trust	Pair Corr
0.96	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.63	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.88	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.93	WMT	Walmart Aggressive Push	Pair Corr
0.77	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.67	HD	Home Depot	Pair Corr
0.82	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.93	DIS	Walt Disney Aggressive Push	Pair Corr
0.93	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.9	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.81	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr

Moving against DoubleLine Etf

0.83	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.83	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.82	JNJ	Johnson Johnson Sell-off Trend	Pair Corr

Related Correlations Analysis

	DCPE	DHDG	Z	MBCC	MBBB	BZDYF	MBOX	MBNE	MBND
DCPE		-0.21	0.91	0.85	-0.47	0.76	0.8	-0.32	-0.16	DCPE
DHDG	-0.21		0.01	-0.09	0.74	-0.6	0.21	0.78	0.71	DHDG
Z	0.91	0.01		0.84	-0.19	0.55	0.84	0.0	0.17	Z
MBCC	0.85	-0.09	0.84		-0.26	0.53	0.87	-0.14	0.02	MBCC
MBBB	-0.47	0.74	-0.19	-0.26		-0.75	-0.11	0.88	0.82	MBBB
BZDYF	0.76	-0.6	0.55	0.53	-0.75		0.4	-0.68	-0.53	BZDYF
MBOX	0.8	0.21	0.84	0.87	-0.11	0.4		0.03	0.17	MBOX
MBNE	-0.32	0.78	0.0	-0.14	0.88	-0.68	0.03		0.96	MBNE
MBND	-0.16	0.71	0.17	0.02	0.82	-0.53	0.17	0.96		MBND
	DCPE	DHDG	Z	MBCC	MBBB	BZDYF	MBOX	MBNE	MBND

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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

MBND	+ 0.96	MBNE
Z	+ 0.91	DCPE
MBNE	+ 0.88	MBBB
MBOX	+ 0.87	MBCC
MBCC	+ 0.85	DCPE
MBCC	+ 0.84	Z

High negative correlations

BZDYF	- 0.75	MBBB
MBNE	- 0.68	BZDYF
BZDYF	- 0.6	DHDG
MBND	- 0.53	BZDYF
MBBB	- 0.47	DCPE
MBNE	- 0.32	DCPE

DoubleLine Shiller Constituents Risk-Adjusted Indicators

There is a big difference between DoubleLine Etf performing well and DoubleLine Shiller ETF 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 Shiller'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
DCPE	0.55	0.05	0.03	0.20	0.48	(0.62)	1.25	(0.97)	3.11
DHDG	0.28	0.03	(0.13)	0.28	0.24	(0.29)	0.53	(0.68)	2.01
Z	2.14	0.65	0.26	3.76	1.60	(2.55)	4.77	(2.96)	25.67
MBCC	0.53	0.00	(0.05)	0.13	0.57	(0.54)	1.12	(1.07)	3.36
MBBB	0.24	0.00	(0.36)	0.07	0.31	(0.26)	0.56	(0.55)	1.49
BZDYF	0.28	0.11	0.00	1.52	0.00	0.00	0.82	0.00	6.11
MBOX	0.61	(0.05)	(0.08)	0.07	0.63	(0.70)	1.25	(1.29)	3.49
MBNE	0.13	0.01	(0.58)	(0.04)	0.15	(0.15)	0.30	(0.27)	0.98
MBND	0.15	0.02	(0.44)	(0.08)	0.18	(0.18)	0.40	(0.29)	1.49

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