Doubleline Emerging Correlations

DLELX Fund

USD 8.46 0.02 0.24%

The current 90-days correlation between Doubleline Emerging and Doubleline Strategic Modity is 0.02 (i.e., Significant 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

Significant diversification

The correlation between Doubleline Emerging Markets and DJI is 0.06 (i.e., Significant 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

0.9	DLFNX	Doubleline E Fixed	Pair Corr
0.9	DLEUX	Doubleline Shiller	Pair Corr
0.77	DLLDX	Doubleline Long Duration	Pair Corr
0.92	DLMOX	Doubleline Multi Asset	Pair Corr
0.87	DLTNX	Doubleline Total Return	Pair Corr
0.9	BILTX	Doubleline Infrastructure	Pair Corr
0.9	BILDX	Doubleline Infrastructure	Pair Corr
0.9	DSEUX	Doubleline Shiller	Pair Corr
0.97	DBELX	Doubleline Emerging	Pair Corr
0.87	DBLTX	Doubleline Total Return	Pair Corr
0.66	DBLEX	Doubleline Emerging	Pair Corr
0.89	DBLGX	Doubleline Global Bond	Pair Corr
0.9	DBLFX	Doubleline E Fixed	Pair Corr
0.81	DBLDX	Doubleline Long Duration	Pair Corr
0.92	DBMOX	Doubleline Multi Asset	Pair Corr
0.9	DDCFX	Doubleline Core Fixed	Pair Corr
0.83	DDTRX	Doubleline Total Return	Pair Corr
0.91	PLMPX	Pimco Emerging Markets	Pair Corr
0.91	PLMIX	Pimco Emerging Markets	Pair Corr
0.96	PELPX	Pimco Emerging Local	Pair Corr

Moving against Doubleline Mutual Fund

0.73	DLFRX	Doubleline Floating Rate	Pair Corr
0.68	DBFRX	Doubleline Floating Rate	Pair Corr
0.58	DSENX	Doubleline Shiller	Pair Corr
0.58	DSEEX	Doubleline Shiller	Pair Corr
0.59	DDCPX	Doubleline Shiller	Pair Corr

Related Correlations Analysis

	DLCMX	DLELX	DLEUX	DLGBX	DLINX	DLLDX	DLMOX	DLTNX	BILDX	DSENX
DLCMX		0.58	0.53	0.42	-0.21	0.2	0.43	0.25	0.29	-0.32	DLCMX
DLELX	0.58		0.9	0.93	-0.25	0.77	0.92	0.87	0.9	-0.58	DLELX
DLEUX	0.53	0.9		0.88	-0.41	0.74	0.86	0.78	0.79	-0.77	DLEUX
DLGBX	0.42	0.93	0.88		-0.49	0.93	0.89	0.96	0.91	-0.73	DLGBX
DLINX	-0.21	-0.25	-0.41	-0.49		-0.56	-0.23	-0.38	-0.14	0.75	DLINX
DLLDX	0.2	0.77	0.74	0.93	-0.56		0.76	0.95	0.84	-0.68	DLLDX
DLMOX	0.43	0.92	0.86	0.89	-0.23	0.76		0.86	0.87	-0.55	DLMOX
DLTNX	0.25	0.87	0.78	0.96	-0.38	0.95	0.86		0.95	-0.62	DLTNX
BILDX	0.29	0.9	0.79	0.91	-0.14	0.84	0.87	0.95		-0.51	BILDX
DSENX	-0.32	-0.58	-0.77	-0.73	0.75	-0.68	-0.55	-0.62	-0.51		DSENX
	DLCMX	DLELX	DLEUX	DLGBX	DLINX	DLLDX	DLMOX	DLTNX	BILDX	DSENX

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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

DLTNX	+ 0.96	DLGBX
DLTNX	+ 0.95	DLLDX
BILDX	+ 0.95	DLTNX
DLGBX	+ 0.93	DLELX
DLLDX	+ 0.93	DLGBX
DLMOX	+ 0.92	DLELX

High negative correlations

DSENX	- 0.77	DLEUX
DSENX	- 0.73	DLGBX
DSENX	- 0.68	DLLDX
DSENX	- 0.62	DLTNX
DSENX	- 0.58	DLELX
DLLDX	- 0.56	DLINX

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
DLCMX	0.62	(0.03)	0.00	(0.19)	0.00	0.00	1.12	(1.37)	3.49
DLELX	0.34	(0.07)	0.00	(1.98)	0.00	0.00	0.67	(0.70)	1.96
DLEUX	0.68	(0.15)	0.00	(0.76)	0.00	0.00	1.30	(1.36)	4.75
DLGBX	0.28	(0.08)	0.00	(1.48)	0.00	0.00	0.48	(0.58)	2.14
DLINX	0.05	0.01	(0.73)	0.41	0.00	(0.12)	0.12	(0.12)	0.35
DLLDX	0.52	(0.07)	0.00	0.45	0.00	0.00	1.10	(1.35)	3.19
DLMOX	0.38	(0.06)	0.00	(5.17)	0.00	0.00	0.93	(0.92)	2.48
DLTNX	0.22	(0.05)	0.00	(0.66)	0.00	0.00	0.45	(0.45)	1.45
BILDX	0.17	(0.02)	0.00	(0.78)	0.00	0.00	0.32	(0.53)	1.18
DSENX	0.55	0.04	0.01	0.17	0.46	(0.62)	0.99	(1.07)	3.02

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