Doubleline Floating Correlations

DBFRX Fund

USD 8.93 0.04 0.45%

The current 90-days correlation between Doubleline Floating Rate and Doubleline Strategic Modity is 0.53 (i.e., Very weak diversification). The correlation of Doubleline Floating 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 Floating Correlation With Market

Modest diversification

The correlation between Doubleline Floating Rate and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Doubleline Floating Rate 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 Floating Rate. 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 metropolitan statistical area.

Moving together with Doubleline Mutual Fund

0.79	OOSYX	Oppenheimer Senior	Pair Corr
0.86	OOSIX	Oppenheimer Senior	Pair Corr
0.91	LFRIX	Floating Rate	Pair Corr
0.9	LARCX	Floating Rate	Pair Corr
0.91	LFRRX	Lord Abbett Inv	Pair Corr
0.91	LFRFX	Floating Rate	Pair Corr
0.91	LRRRX	Floating Rate	Pair Corr
0.91	LRRTX	Floating Rate	Pair Corr
0.92	LRRVX	Floating Rate	Pair Corr
0.91	LRRKX	Floating Rate	Pair Corr
0.8	LSHCX	Horizon Spin Off	Pair Corr
0.69	LSHAX	Horizon Spin Off	Pair Corr
0.62	KNPAX	Kinetics Paradigm	Pair Corr
0.62	WWNPX	Kinetics Paradigm	Pair Corr
0.62	KNPYX	Kinetics Paradigm	Pair Corr
0.83	KNPCX	Kinetics Paradigm	Pair Corr
0.63	BNIVX	Advisors Inner Circle	Pair Corr
0.78	PIEFX	Pnc Emerging Markets	Pair Corr
0.81	SGLYX	Simt Global Managed	Pair Corr
0.83	EMPTX	Ubs Emerging Markets	Pair Corr
0.85	VPKIX	Vanguard Pacific Stock	Pair Corr

Moving against Doubleline Mutual Fund

0.78	RYCWX	Inverse Dow 2x Downward Rally	Pair Corr
0.38	JAFYX	John Hancock Variable	Pair Corr

Related Correlations Analysis

	DLCMX	DLENX	DLELX	DLFRX	DLFNX	DLEUX	DLGBX	DLINX	DLLDX	DLSNX
DLCMX		0.65	-0.39	0.68	-0.16	0.24	-0.68	0.2	0.16	-0.56	DLCMX
DLENX	0.65		0.01	0.67	0.55	0.62	-0.33	0.81	0.66	0.05	DLENX
DLELX	-0.39	0.01		0.07	0.39	0.67	0.88	0.41	-0.16	0.82	DLELX
DLFRX	0.68	0.67	0.07		0.03	0.55	-0.32	0.56	0.11	-0.21	DLFRX
DLFNX	-0.16	0.55	0.39	0.03		0.52	0.37	0.79	0.82	0.71	DLFNX
DLEUX	0.24	0.62	0.67	0.55	0.52		0.37	0.73	0.26	0.47	DLEUX
DLGBX	-0.68	-0.33	0.88	-0.32	0.37	0.37		0.14	-0.18	0.86	DLGBX
DLINX	0.2	0.81	0.41	0.56	0.79	0.73	0.14		0.65	0.5	DLINX
DLLDX	0.16	0.66	-0.16	0.11	0.82	0.26	-0.18	0.65		0.19	DLLDX
DLSNX	-0.56	0.05	0.82	-0.21	0.71	0.47	0.86	0.5	0.19		DLSNX
	DLCMX	DLENX	DLELX	DLFRX	DLFNX	DLEUX	DLGBX	DLINX	DLLDX	DLSNX

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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

DLGBX	+ 0.88	DLELX
DLSNX	+ 0.86	DLGBX
DLSNX	+ 0.82	DLELX
DLLDX	+ 0.82	DLFNX
DLINX	+ 0.81	DLENX
DLINX	+ 0.79	DLFNX

High negative correlations

DLGBX	- 0.68	DLCMX
DLSNX	- 0.56	DLCMX
DLELX	- 0.39	DLCMX
DLGBX	- 0.33	DLENX
DLGBX	- 0.32	DLFRX
DLSNX	- 0.21	DLFRX

Risk-Adjusted Indicators

There is a big difference between Doubleline Mutual Fund performing well and Doubleline Floating 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 Floating'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	0.55	(0.03)	0.00	(0.56)	0.00	0.00	0.92	(1.27)	4.50
DLENX	0.16	0.00	0.19	0.02	0.26	(0.20)	0.34	(0.33)	1.68
DLELX	0.31	0.06	0.33	(1.21)	0.21	(0.41)	0.71	(0.70)	2.09
DLFRX	0.11	0.00	0.22	(0.16)	0.16	(0.19)	0.34	(0.46)	1.14
DLFNX	0.27	0.00	0.22	(0.07)	0.31	(0.28)	0.55	(0.44)	1.63
DLEUX	0.96	0.08	0.08	0.42	1.74	(0.96)	2.31	(2.20)	7.88
DLGBX	0.28	0.04	0.37	(0.86)	0.16	(0.35)	0.71	(0.46)	2.26
DLINX	0.07	0.00	0.44	0.14	0.00	(0.12)	0.12	(0.12)	0.46
DLLDX	0.65	(0.03)	0.00	0.25	0.00	0.00	1.11	(1.42)	4.09
DLSNX	0.07	0.01	0.63	(1.59)	0.00	(0.12)	0.11	(0.10)	0.42

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