1290 Doubleline Correlations
| TNVDX Fund | USD 10.99 0.02 0.18% |
The current 90-days correlation between 1290 Doubleline Dynamic and Legg Mason Partners is -0.29 (i.e., Very good diversification). The correlation of 1290 Doubleline 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.
1290 Doubleline Correlation With Market
Poor diversification
The correlation between 1290 Doubleline Dynamic and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 1290 Doubleline Dynamic and DJI in the same portfolio, assuming nothing else is changed.
1290 |
Moving together with 1290 Mutual Fund
| 0.76 | TNBIX | 1290 Smartbeta Equity | PairCorr |
| 0.77 | TNBRX | 1290 Smartbeta Equity | PairCorr |
| 0.77 | TNBAX | 1290 Smartbeta Equity | PairCorr |
| 0.93 | TNIIX | 1290 Retirement 2020 | PairCorr |
| 0.73 | TNHAX | 1290 High Yield | PairCorr |
| 0.73 | TNHIX | 1290 High Yield | PairCorr |
| 0.73 | TNHCX | 1290 High Yield | PairCorr |
| 0.76 | TNHRX | 1290 High Yield | PairCorr |
| 0.93 | TNKIX | 1290 Retirement 2030 | PairCorr |
| 0.95 | TNJIX | 1290 Retirement 2025 | PairCorr |
| 0.84 | TNMAX | 1290 Multi Alternative | PairCorr |
| 0.83 | TNMIX | 1290 Multi Alternative | PairCorr |
| 0.85 | TNMRX | 1290 Multi Alternative | PairCorr |
| 0.89 | TNLIX | 1290 Retirement 2035 | PairCorr |
| 0.83 | TNOIX | 1290 Retirement 2045 | PairCorr |
| 0.86 | TNNIX | 1290 Retirement 2040 | PairCorr |
| 0.76 | TNQIX | 1290 Retirement 2055 | PairCorr |
| 1.0 | TNXAX | 1290 Doubleline Dynamic | PairCorr |
| 0.8 | TNWIX | 1290 Retirement 2050 | PairCorr |
| 1.0 | TNYRX | 1290 Doubleline Dynamic | PairCorr |
| 0.83 | VWINX | Vanguard Wellesley Income | PairCorr |
| 0.9 | VWIAX | Vanguard Wellesley Income | PairCorr |
| 0.91 | BKMIX | Blackrock Multi Asset | PairCorr |
| 0.95 | HBLTX | Hartford Balanced | PairCorr |
| 0.95 | HBLRX | Hartford Balanced | PairCorr |
| 0.85 | HBLSX | Hartford Balanced | PairCorr |
Related Correlations Analysis
| 0.92 | 1.0 | 0.41 | 0.41 | 1.0 | SMGXX | ||
| 0.92 | 0.92 | 0.38 | 0.38 | 0.92 | BCTXX | ||
| 1.0 | 0.92 | 0.41 | 0.41 | 1.0 | PRRXX | ||
| 0.41 | 0.38 | 0.41 | 1.0 | 0.41 | GMCXX | ||
| 0.41 | 0.38 | 0.41 | 1.0 | 0.41 | UATXX | ||
| 1.0 | 0.92 | 1.0 | 0.41 | 0.41 | STPXX | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between 1290 Mutual Fund performing well and 1290 Doubleline 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 1290 Doubleline'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SMGXX | 0.03 | 0.01 | 0.00 | (0.12) | 0.00 | 0.00 | 1.01 | |||
| BCTXX | 0.03 | 0.00 | 0.00 | 0.48 | 0.00 | 0.00 | 1.01 | |||
| PRRXX | 0.03 | 0.01 | 0.00 | (0.12) | 0.00 | 0.00 | 1.01 | |||
| GMCXX | 0.03 | 0.01 | 0.00 | (0.37) | 0.00 | 0.00 | 1.01 | |||
| UATXX | 0.03 | 0.01 | 0.00 | (0.37) | 0.00 | 0.00 | 1.01 | |||
| STPXX | 0.03 | 0.01 | 0.00 | (0.12) | 0.00 | 0.00 | 1.01 |