Doubleline Flexible Correlations

Mutual Funds . USA . 
Fund . Doubleline Flexible Income
DFLEX Fund  USD 8.78  0.01  0.11%   
The current 90-days correlation between Doubleline Flexible and Janus High Yield Fund is -0.07 (i.e., Good diversification). The correlation of Doubleline Flexible 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 Flexible Correlation With Market

Very poor diversification

The correlation between Doubleline Flexible Income and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Doubleline Flexible 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 Flexible 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 services.

Moving together with Doubleline Mutual Fund

  0.82DLCMX Doubleline StrategicPairCorr
  0.93DLENX Doubleline EmergingPairCorr
  0.95DLELX Doubleline EmergingPairCorr
  0.87DLFRX Doubleline Floating RatePairCorr
  0.88DLFNX Doubleline E FixedPairCorr
  0.89DLEUX Doubleline ShillerPairCorr
  0.88DLGBX Doubleline Global BondPairCorr
  0.99DLINX Doubleline FlexiblePairCorr
  0.99DLSNX Doubleline Low DurationPairCorr
  0.82DLTNX Doubleline Total ReturnPairCorr
  0.92BILTX Doubleline InfrastructurePairCorr
  0.91BILDX Doubleline InfrastructurePairCorr
  0.9DSEUX Doubleline ShillerPairCorr
  0.92DSENX Doubleline ShillerPairCorr
  0.92DSEEX Doubleline ShillerPairCorr
  0.83DBCMX Doubleline StrategicPairCorr
  0.95DBELX Doubleline EmergingPairCorr
  0.88DBFRX Doubleline Floating RatePairCorr
  0.83DBLTX Doubleline Total ReturnPairCorr
  0.99DBLSX Doubleline Low DurationPairCorr
  0.89DBLNX Doubleline IncomePairCorr
  0.99DBLLX Doubleline Low DurationPairCorr
  0.88DBLIX Doubleline IncomePairCorr
  0.9DBLEX Doubleline EmergingPairCorr
  0.88DBLGX Doubleline Global BondPairCorr
  0.9DBLFX Doubleline E FixedPairCorr
  0.97DBSCX Doubleline SelectivePairCorr
  0.9DDCFX Doubleline Core FixedPairCorr
  0.93DDCPX Doubleline ShillerPairCorr
  0.99DDLDX Doubleline Low DurationPairCorr
  0.87DDTRX Doubleline Total ReturnPairCorr
  0.99DELNX Doubleline Low DurationPairCorr
  0.99DFFLX Doubleline FlexiblePairCorr
  0.95PONAX Pimco IncomePairCorr
  0.94PONCX Pimco IncomePairCorr
  0.94PIPNX Pimco IncomePairCorr
  0.94PONRX Pimco IncomePairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Doubleline Mutual Fund performing well and Doubleline Flexible 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 Flexible'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
DLINX  0.05  0.01  0.00  0.57  0.00 
 0.00 
 0.12 
(0.11)
 0.23 
WSHNX  0.06  0.01 (0.79)(5.13) 0.00 
(0.14)
 0.17 
(0.08)
 0.50 
LZHOX  0.09  0.01 (0.58) 0.14  0.00 
(0.12)
 0.21 
(0.16)
 0.86 
BDHIX  0.29  0.01 (0.10) 0.09  0.29 
(0.33)
 0.57 
(0.57)
 2.01 
ETIHX  1.19  0.11  0.05  0.29  1.29 
(1.35)
 3.22 
(2.17)
 7.33 
FAFWX  0.22  0.03 (0.07) 0.19  0.08 
(0.26)
 0.55 
(0.47)
 1.41 
JHYRX  0.13  0.00 (0.31) 0.12  0.00 
(0.24)
 0.27 
(0.27)
 1.08 
JHYAX  0.15  0.00 (0.32) 0.12  0.00 
(0.20)
 0.27 
(0.27)
 1.07 
JAHYX  0.14  0.00 (0.32) 0.11  0.00 
(0.22)
 0.27 
(0.27)
 1.22 
JHYNX  0.13  0.00 (0.34) 0.11  0.00 
(0.24)
 0.27 
(0.27)
 1.08 

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